|International Equity Index Daily Hotline
11 July 2016
The UK's FTSE 100 ended last week higher by 5.6% for 2016. The week itself saw consolidation, allowing momentum to cool off. The 14-day RSI has room to allow further short-term strength. Note the 50-day exponential moving average rising through the 200-day last week, a bullish golden-cross.
The U.S. S&P 600 Small Cap Index rallied 2.4% Friday, lifting its 2016 gain to 7.5%. The index remains short of the 2016 high and the record high of 742 from 2015. Both those levels will present resistance and with the P&F relative chart versus the large caps holding its reversal down from June, caution is still advised on the small caps.
Breadth, the Bullish % for the small cap index, also maintains downward direction, with a confirmed top for April through June. Therefore internals are yet to confirm the short-term strength on the index.
In the U.K., the small caps are also underperforming the large caps. The relative ratio for the FTSE SmallCap Index versus the FTSE 100 is trading around 52-week lows, reflecting underperformance. The index itself is struggling to overcome resistance from its 200-day exponential moving average.
|SPMIB||Italy S&P MIB Index||16066.4||+4.1%|
|STU6||Italy S&P/MIB Futures (Sep 16)||16049||+4.1%|
|BNK||BANKS PAN EURO||14.44||+3.7%|
|XAU||PHLX Gold & Silver Index||107.194||+3.2%|
|HUI||NYSE Arca Gold Bugs Index||271.53||+2.8%|
|VIX||CBOE Volatility Index (VIX)||13.2||-10.6%|
|ZAR||South African Rand per 1 US Dollar||14.5379||-1.5%|
|TPX||Japan Topix Index||1209.88||-1.3%|
|NEY||Japan Nikkei 300 Index||243.38||-1.2%|
|NKY||Japan Nikkei 225 Index||15107||-1.1%|
|SPGLOB||S&P Global 1200 Index||Finds support near the year's earlier small base area. Potential 'bear trap' under the prior range/top.||1843.93||+1.2%||1696.8/1743.89||1900.53/1881|
|INDU||DJ Industrials||Bounces back up into the s-t range/top. 'Bear trap' potential towards 18000 region.||18146.7||+1.4%||16821.9/17063.1||18351.4/18167.6|
|SPX||S&P 500 Index||Counter move from oversold. 'Bear trap' under the s-t range/top.||2129.9||+1.5%||1969.25/1991.68||2134.72/2120.55|
|CCMP||NASDAQ Comp.||Recovery from oversold and the year's earlier small base. 'Bear trap' under the s-t range/top.||4956.76||+1.6%||4425.72/4574.25||4980.14/4910.04|
|NDX||NASDAQ 100||Rebounds from oversold, back into the s-t range/top ('bear trap').||4528.36||+1.5%||4088.12/4179.73||4536.55/4467.48|
|UKX||FTSE 100||Recovers strongly to test stiff resistance at the Apr high (6427.32).||6590.64||+0.9%||5499.51/5788.74||6487.89/6427.32|
|SX5E||Euro Stoxx 50||Sharp retreat from resistance near the 200-day MA reverses by the Feb floor (2672.73).||2838.01||+2.1%||2494.54/2672.73||3345.2/3156.86|
|CAC||France CAC40 Index||Finds support above the Feb floor (3892.46).||4190.68||+1.8%||3789.11/3892.46||4607.69/4536.63|
|DAX||Germany DAX Index||Sharp fall reverses. Potential 'bear trap' beneath the prior lows alogn 9500.||9629.66||+2.2%||9125.19/ 9214.1||10474.4/10365.2|
|SPMIB||Italy S&P MIB Index||Oversold fall pauses near the Nov 2012 platform (14855.8).||16066.4||+4.1%||14855.8/15017.4||19305.3/17966.2|
|IBEX||Spain IBEX 35 Index||Oversold s-t fall finds support near the June 2013 floor (7508.4); also close to the Nov 2012 low at 7490.6.||8185.9||+2.2%||7490.6/7508.4||9724.9/9360.2|
|OMX||Sweden OMX Index||Failed nudge under the Feb low (1247.06). 'Bear trap' recovery follows.||1326.21||+1.6%||1206.12/1240.68||1431.64/1383.38|
|SMI||Switzerland SMI Index||Rally from support near the Feb low (7425.05) approaches the prior recovery high at 8079.48.||8037.94||+0.9%||7425.05||8310.88/8079.48|
|AS51||Australia ASX200 Index||Pauses the s-t downtrend from the May ceiling (5427.7).||5230.54||+0.1%||4893.5/5051||5427.7/5325.4|
|SHASHR||China Shanghai A Index||Rangebound between the late-Jan floor and Apr high.||3127.86||-1.0%||2760.92/2901.35||3241.33/3144.14|
|HSI||HK Hang Seng Index||Rallies from support by the May floor (19594.6). Points to resistance near the 200-day MA||20564.2||-0.7%||18867.7/19594.6||21654.1/21352.4|
|SENSEX||India BSE Sensex Index||Reasserts the advance towards the Oct 2015 peak (27618.1).||27126.9||-0.3%||25057.9/25911.3||27618.1/27105.4|
|NKY||Japan Nikkei 225 Index||Did not maintain the dip under the Feb low. Potential 'bear trap'.||15107||-1.1%||14529/14864||17251.4/16389.2|
|IBOV||Brazil Bovespa Index||Steadies above s-t range support at the 200-day MA. Points towards resistance near the sideways area around 52000.||53140.7||+2.2%||46520.8/47873.7||54977.7/51811.6|
|SPTSX||Canada TSX Composite||Correction from overbought reverses by the 200-day MA.||14259.8||+0.9%||13217.2/13535.5||14450.9/14150.4|
|VIX||CBOE Volatility Index (VIX)||Retraces to support near the 50 and 200-day MAs (16.59).||13.2||-10.6%||12.5/16.59||33.82/32.09|
Copyright 2016 by Stockcube Research Ltd.