|International Equity Index Daily Hotline
25 September 2015 By Cornelia Dichio, Analyst
At the time of writing, the UK's benchmark FTSE 100 index is trading at 6113.16, up 2.54%. This means that the market has re-entered the prior short-term range, giving rise to hopes for a further near-term 'bear trap' rally towards the upper boundary near 6300. Note that that barrier is reinforced by the 50-day Moving Average.
The German DAX index is currently finding firm support at the August low (9338.2). Trading at 9695.32 a short while ago, the market is up 2.84% and has almost clawed back all yesterday's losses. Nonetheless, DAX would have to clear resistance near 10500 to confirm basing.
One notes that the Focus List Breadth Indicator has fallen again. Now plotted under 10% to confirm the oversold condition for its constituents.
This would include the Swiss SMI, which has approached support at last month's low; and the RSI indicator is near oversold levels. We err on the side of caution and book the profit, 4.3%, on the short trade.
Sweden's OMX and Spain's IBEX 35 indices have broken support levels, including last month's lows. However, we delay opening new shorts at this point in view of the oversold indicators.
The US DJ Industrial Average has produced a bearish P&F Breakout signal on Thursday's move through 16200 on the automated scanner. However, the 'thin lower tail' on the last candle indicates that intraday support arrived at 16016.4; near initial support from the 1 September reaction low (15980). Of course, a breach of resistance near the shorter-term MA, around 17000, would be needed to show significant pattern improvement.
|HUI||NYSE Arca Gold Bugs Index||112.916||+7.8%|
|XAU||PHLX Gold & Silver Index||47.8896||+7.4%|
|VIX||CBOE Volatility Index (VIX)||23.47||+6.1%|
|TA-100||Israel Tel Aviv 100 Index||1332.93||-3.5%|
|ISEQ||Ireland ISEQ Overall Index||6209.03||-2.8%|
|OMX||Sweden OMX Index||1381.87||-2.8%|
|IND||INDUSTRIAL GOODS PAN EURO||42.96||-2.7%|
|OIL||OIL & GAS PAN EURO||29.055||-2.7%|
|Date||Stock||Code||Type||Open Price||Current Price||% P&L||Target||Stop|
|16 Sep 2015||Russian Trading System Index $||RTSI$||Long||837.39||769.38||-8.12%||700|
- Profits are booked on short SMI.
|SPGLOB||S&P Global 1200 Index||Retraces the bounce from oversold. Retests the Feb 2014 low (1741.88).||1748.12||-0.7%||1694.1/1741.88||1969.64/1826.6|
|INDU||DJ Industrials||Fall from the 50-day MA; and old support from the Feb low, finds intraday support at 16016.4.||16201.3||-0.5%||15370.3/15980||17629.1/16933.4|
|SPX||S&P 500 Index||Fall from the 50-day MA finds intraday support at 1908.92.||1932.24||-0.3%||1867.01/1903.07||2134.72/2020.86|
|CCMP||NASDAQ Comp.||Retraces the rally from the Aug low. Intraday support is noted at 4670.12.||4734.48||-0.4%||4292.14/4614.91||5231.94/4960.87|
|NDX||NASDAQ 100||Retraces the rally from the Aug low. Intraday support is noted at 4198.11.||4261.1||-0.3%||3787.23/4121.83||4694.13/4450.66|
|UKX||FTSE 100||Holds the decline towards the Aug low.||5961.49||-1.2%||5605.59/5768.22||6764.82/6284.17|
|SX5E||Euro Stoxx 50||Retraces to the Aug low (2973.16).||3019.34||-2.0%||2921.73/2973.16||3714.26/3326.86|
|CAC||France CAC40 Index||Falls from the s-t range towards the Aug low.||4347.24||-1.9%||4076.16/4230.49||5217.8/4733.05|
|DAX||Germany DAX Index||Falls from the s-t range. Tests the Aug low. RSI oversold.||9427.64||-1.9%||9219.05/9338.2||11920.3/10512.6|
|SPMIB||Italy S&P MIB Index||Falls towards the Aug low (20158.2).||20581.8||-2.3%||17991.8/20158.2||24157.4/22448.8|
|IBEX||Spain IBEX 35 Index||Extends the fall past the Oct 2014 floor (9370.5) to dip under the Nov 2013 low (9232.1) during Thur. RSI low..||9291.4||-1.9%||9036.9||11684.6/10357.3|
|OMX||Sweden OMX Index||Breaks the Aug low (1405.01); and Dec 2014 floor (1386.61). RSI low.||1381.87||-2.8%||1246.56||1669.13/1524.23|
|SMI||Switzerland SMI Index||Falls towards the Aug low. RSI low.||8278.07||-2.0%||7852.83/8155.1||9537.9/8963.86|
|AS51||Australia ASX200 Index||Falls to the lows of the s-t range at the Aug low, which hold.||5042.11||-0.6%||4632.3/4928.3||5718.9/5305|
|SHASHR||China Shanghai A Index||Oersold s-t fall from resistance at the 50-day MA near 3000 yields to narrow ranging.||3239.04||-1.6%||2940.91/2986.39?||4384.39/4197.46|
|HSI||HK Hang Seng Index||Pauses at late-Aug resistance. Questions base theory.||21186.3||+0.4%||19426.4/20524.9||25634.3/22424.4|
|SENSEX||India BSE Sensex Index||Extends the s-t range forming near mid-2014 support.||25863.5||+0.2%||24163.6||29094.6/26687.3|
|NKY||Japan Nikkei 225 Index||Extends the s-t range forming beneath the m-t range/top; the sideways trading along 19000; and the 200-day MA.||17880.5||+1.8%||16592.6/17415.6||20952.7/19192.8|
|IBOV||Brazil Bovespa Index||S-t decline finds intraday support at 44182.7||45292||-0.1%||42749.2/45278.3||53417/50894.5/49395.6|
|SPTSX||Canada TSX Composite||Recovery from the oversold and accelerated Aug low yields to ranging beneath the 50-day MA.||13338.7||-0.3%||12678/12705.2||14748/13888.2|
|VIX||CBOE Volatility Index (VIX)||Pullback from the overbought Aug high finds intraday support at 17.87.||23.47||+6.1%||11.24||53.29|
Copyright 2015 by Stockcube Research Ltd.