|International Equity Index Daily Hotline
12 November 2015 By Cornelia Dichio, Analyst
The Brazilian Bovespa index has recorded a 1.9% gain for Wednesday's session. The market has steadied within the short-term ranging pattern that is forming beneath the psychological 50000 number. That barrier is reinforced by the presence of the 200-day Moving Average. We will consider buying an eventual breakout, as a base formation would be in place (see also hotlines for 4 and 9 November).
The Swedish OMX index has lifted from the 50-day Moving Average following the small pullback from the 'Peak' Key Day Reversal of 9 November at 1537.25; near the longer-term MA line. There is a chance that the market is reasserting the uptrend from the late-September floor. We remain long.
The French CAC 40 is similarly potentially reasserting its advance. In this case, the rally had become overbought near the round 5000 level. If the market can manage to sustain a breakout, the next chart target is around 5200.
HK's Hang Seng index has registered a 2.4% gain for today's trading. The market has steadied within the narrow ranging pattern forming above the late-August/early-October base. This could be part of a consolidation phase before the recovery is resumed. A drop back into the small base would be needed to negate that prospect.
In contrast, the Philippines Manila Composite index lost 1.1% during today's session. The market extended the 'bull trap' pullback (that followed the failed break over the lateral region along 7200) breaking the mid-October low at 6924.77. Next important chart support is at the late-September low at 6720.82 followed by the August floor at 6603.19.
|VIX||CBOE Volatility Index (VIX)||16.06||+5.0%|
|HSI||Hong Kong Hang Seng Index||22888.9||+2.4%|
|IBOV||Brazil Bovespa Index||47065||+1.9%|
|HSCEI||Hang Seng China Ent Indx||10408.9||+1.6%|
|INS||INSURANCE PAN EURO||33.58||+1.5%|
|IHZ5||SGX CNX NIFTY ETS||7813.5||-3.4%|
|RTSI$||Russian Trading System Index $||835.33||-1.5%|
|PCOMP||Philippines Manila Comp Index||6909.82||-1.1%|
|Date||Stock||Code||Type||Open Price||Current Price||% P&L||Target||Stop|
|22 Oct 2015||Italy S&P MIB Index||SPMIB||Long||22616.9||22385.1||-1.02%||21500|
|4 Nov 2015||Sweden OMX Index||OMX||Long||1524.23||1511.46||-0.84%||1420|
- We watch to buy Bovespa (Chart of the Day).
|SPGLOB||S&P Global 1200 Index||S-t rally has paused.||1870.43||+0.1%||1712.63/1830.3||1969.64/1900.53|
|INDU||DJ Industrials||Pauses the overbought rally within hefty supply from this year's earlier large top.||17702.2||-0.3%||15942.4/16887.7||18137.1|
|SPX||S&P 500 Index||Overbought s-t rally pauses within dense trading from the year's earlier top.||2075||-0.3%||1820.66/1867.01||2134.72|
|CCMP||NASDAQ Comp.||Rally towards the July high slows.||5067.02||-0.3%||4292.14/4487.06||5231.94|
|NDX||NASDAQ 100||Overbought rally towards the all-time high at the Mar 2000 peak (4816.35) pauses. Drifts back under the Jul high (4694.13). Potential 'bull trap'.||4636.94||-0.1%||4053.12/4328.96||4816.35/4737.11|
|UKX||FTSE 100||Recovery from the small base yields to ranging beneath the 200-day MA.||6297.2||+0.3%||5605.59/5768.22||6764.82|
|SX5E||Euro Stoxx 50||Overbought rally from the s-t base yields to narrow ranging.||3448.42||+0.7%||3178.43/3381.01||3714.26|
|CAC||France CAC40 Index||Possibly reasserting the rally from the s-t base after a brief correction from overbought.||4952.51||+0.8%||4580.84/4841.39||5217.8|
|DAX||Germany DAX Index||Overbought rally from the base gives way to narrow ranging.||10907.9||+0.7%||9325.05/9890.46||11920.3|
|SPMIB||Italy S&P MIB Index||Ranging recovery pauses. Probes support near the 50 and 200-day MAs.||22385.1||-0.3%||20158.2/21747.2||24157.4|
|IBEX||Spain IBEX 35 Index||Pauses the ranging recovery near the 200-day MA.||10377.2||+0.4%||9231.3/9992.4||11684.6/10631.6|
|OMX||Sweden OMX Index||Lifts from the 50-day MA after the small reaction from the 'Peak' KDR of 9 Nov. Possibly reasserting the s-t uptrend.||1511.46||+0.8%||1369.29/1434.72||1638.12/1537.25|
|SMI||Switzerland SMI Index||Dips back into the s-t range/base. Potential 'bull trap'.||8884.55||+0.4%||7852.83/8155.1||9537.9/9037.55|
|AS51||Australia ASX200 Index||The 'bull trap' reaction slows within the prior s-t base.||5125.69||+0.1%||4632.3/4918.4||5718.9/5384.8|
|SHASHR||China Shanghai A Index||Recovery from the Aug low becomes overbought.||3804.63||-0.5%||2986.39/3420.07||4197.46|
|HSI||HK Hang Seng Index||S-t recovery yields to ranging above the small base.||22888.9||+2.4%||20368.1/22332.7||25634.3/23423.6|
|SENSEX||India BSE Sensex Index||S-t decline is becoming oversold.||25743.3||-1.4%||24833.5/25287.3||28578.3/27618.1|
|NKY||Japan Nikkei 225 Index||Extends the s-t rally into the m-t top starting near 19000. RSI high.||19697.8||+0.0%||17758.1/18641.2||20952.7|
|IBOV||Brazil Bovespa Index||Ranging beneath the psychological 50000 level; and 200-day MA.||47065||+1.9%||42749.2/43766.6||50894.5/49752|
|SPTSX||Canada TSX Composite||Extends the 'bull trap' reaction within the prior s-t range (base).||13341.9||-0.5%||12705.2/12964.1||14748/14053.2|
|VIX||CBOE Volatility Index (VIX)||S-t decline towards the Aug floor at 10.88 pauses.||16.06||+5.0%||10.88||53.29/28.33|
Copyright 2015 by Stockcube Research Ltd.