|International Equity Index Daily Hotline
7 October 2014 By Cornelia Dichio, Analyst
The Australian ASX 200 index resumed its short-term decline, at first, during today's. However, the 'thin lower tail' on the last candlestick indicates that firm intraday support arrived at the low, at 5208.3, by the close of business. With the RSI still languishing near oversold levels, there is a chance that the market may yet launch a counter move up. A push past initial resistance at 5337.2 would probably signal the start of such a recovery by the Australian market.
The Thai Bangkok SET index has recorded a 1.7% loss for today's session. The market corrects from overbought, having encountered resistance near the 2013 peaks, near 1600. What is more, valuations have dropped beneath uptrend support at the 50-day moving average. Unless a quick reversal is seen, there is a danger of further slippage towards the 1500 region.
The Greek Athens SE index has registered a 1.4% loss for Monday's trading. The market falls to a lower low for the year. Next chart support is near the psychological 1000 level. We would point out that the RSI is indicating the onset of an oversold condition, which increases the likelihood of a counter move before long.
Spain's IBEX 35 is currently one of the weaker of the European bourses on our Focus List. The market was changing hands at 10481.4, down 1.54%, a short time ago. This means that it is potentially reasserting the decline from the June-September ceiling, towards the sideways area along the round 10000 number.
In contrast, Brazil's Bovespa index has jumped up from an oversold position. Making an appearance on the 'Gainers' list a second time, to follow +1.9% with +4.7%, the market is enjoying a surging recovery from the late-June/early-July lows near 52000. That said, however, one notes that some of the gains evaporated by the close, as intraday resistance arrived at 58897.3.
|VIX||CBOE Volatility Index (VIX)||15.46||+6.3%|
|IBOV||Brazil Bovespa Index||57115.9||+4.7%|
|HKX||AMEX Hong Kong Index||1110.97||+2.6%|
|HUI||NYSE Arca Gold Bugs Index||193.488||+2.0%|
|IBG||Argentina General Index||522622||-2.7%|
|ASE||Greece Athens SE Index||1035.43||-1.4%|
|ZAR||South African Rand per 1 US Dollar||11.2122||-1.2%|
|SENSEX||India BSE Sensex Index||26272||-1.1%|
|CAD||Canadian Dollar per 1 US Dollar||1.1132||-1.0%|
|Date||Stock||Code||Type||Open Price||Current Price||% P&L||Stop||Comment|
|18 Sep 2014||India BSE Sensex Index||SENSEX||Long||27112.2||26272||-3.10%||26000|
- There are no changes today.
|SPGLOB||S&P Global 1200 Index||Counter move from oversold.||1873.26||+0.5%||1823.71/1855.2||1961.12|
|INDU||DJ Industrials||Potentially reasserting the uptrend.||16991.9||-0.1%||16312.7/16674||17350.6|
|SPX||S&P 500 Index||Fall from the Sept, and all-time, high reverses at 1926.03; above the Aug low and 200-day MA.||1964.82||-0.2%||1904.78/1926.03||2019.26|
|CCMP||NASDAQ Comp.||Oct rebound finds intraday resistance at 4496.26; near the 50-day MA.||4454.8||-0.5%||4321.89/4367.74||5132.52/4610.57?|
|NDX||NASDAQ 100||Possibly reasserting the uptrend.||4016.27||-0.3%||3837.16/3934.94||4147.19/4118.91?|
|UKX||FTSE 100||Rebound follows the accelerated and oversold decline to the Feb floor (6416.72).||6563.65||+0.5%||6416.72/6446.39||6950.6/6904.86|
|SX5E||Euro Stoxx 50||S-t decline slows near 3100.||3138.67||+0.2%||2971.47||3325.5|
|CAC||France CAC40 Index||The reaction from 4500 pauses.||4286.52||+0.1%||4109.31||4598.65/4509.58|
|DAX||Germany DAX Index||Extends the s-t fall. RSI low.||9209.51||+0.2%||8903.49||10051/9891.2|
|SPMIB||Italy S&P MIB Index||Fall from the Sept high slows.||20119.7||-0.4%||18788.3||21481.9/20940.3|
|CRTX||Russian Traded Index||Oversold fall slows near the Apr low.||1585.46||+1.3%||1431.59/1522.73||1978.67/1773.78|
|IBEX||Spain IBEX 35 Index||Pauses the s-t fall from the June-Sept ceiling.||10645.7||+0.7%||9946.9/10418.1?||11566.1/11249.4|
|OMX||Sweden OMX Index||Pauses the pullback from the Sept high.||1365.71||-0.3%||1320.99||1547.87/1424.22|
|SMI||Switzerland SMI Index||Falls out of the s-t range, renewing the correction from overbought.||8723.04||+0.5%||8090.74/8183.55||8918.77/8874.48|
|AS51||Australia ASX200 Index||Renews the s-t fall before finding intraday support at 5208.3.||5284.2||-0.2%||5052.2||5443.2/5337.2|
|SHASHR||China Shanghai A Index||Holds the uptrend.||2474.59||+0.3%||2283.06/2389.7||2558.83/2458.04|
|HSI||HK Hang Seng Index||Counter move from oversold.||23422.5||+0.5%||21680.3/22565.6||25363/24470.3|
|SENSEX||India BSE Sensex Index||Reaffirms resistance near the early-Sept all-time high with a 'Peak' KDR. Tests uptrend support at the 50-day MA.||26272||-1.1%||25232.8/26464||27355|
|NKY||Japan Nikkei 225 Index||Possibly reasserting the uptrend after the pullback from overbought.||15783.8||-0.7%||15356/15559.1||17489/16374.1|
|IBOV||Brazil Bovespa Index||Surging recovery from oversold.||57115.9||+4.7%||51239.3/52480.5||60242.8/57488.8|
|SPTSX||Canada TSX Composite||Oversold fall finds intraday support at 14545.6; near the 200-day MA.||14743.1||-0.3%||14459.8||15685.1/15055.8|
|VIX||CBOE Volatility Index (VIX)||Reacts to sideways resistance around 18.||15.46||+6.3%||10.28/11.24||21.48/18.22|
Copyright 2014 by Stockcube Research Ltd.