|International Equity Index Daily Hotline
28 January 2016 By Cornelia Dichio, Analyst
The US NASDAQ Composite lost 2.2% for Wednesday's session. Also, the fall through 4500 generated a bearish P&F Breakout signal on the automated scanner. The market had been enjoying a recovery, having languished in oversold territory for most of the month, from prior support at the August floor (4292.14). A push past 4600 is now required to remove the risk of an additional retracement of the recent rebound.
In contrast, the US S&P 500 index had produced a bullish P&F Breakout signal, on the move through 1910. However, the market did not maintain that breakout, finding intraday resistance at 1916.99. In fact, unless that level is cleared beforehand, there is some danger of a further retreat back towards the recent low at 1812.29.
The RSI indicator for Brazil's Bovespa index has been in oversold ground for most of the month. Finally, there is some signs of life in the market, which recorded a 2.3% gain yesterday. That said, though, a more dynamic up move would be needed to signal scope for a further recovery towards the sideways region around 45000.
Russia's Trading System $ index has posted a 5.2% gain for today's trading. The market has restarted the recovery from oversold after a brief pause. We would point out the potential resistance near 750, from the 50-day MA line. Otherwise, the next chart target is the mid to late-December ceiling at 795.16.
In contrast, Chinese Shanghai indices appear on the 'Losers' list. We continue to hold a short trade in the B version, which shed 1.7%, as it reasserted the decline towards the August/September floor around 280.
|RTSI$||Russian Trading System Index $||715.9||+5.2%|
|XAU||PHLX Gold & Silver Index||45.6615||+2.8%|
|VIX||CBOE Volatility Index (VIX)||23.11||+2.7%|
|HUI||NYSE Arca Gold Bugs Index||120.542||+2.6%|
|IBOV||Brazil Bovespa Index||38376.4||+2.3%|
|SHASHR||China Shanghai A Index||2778.98||-2.9%|
|SHCOMP||Shanghai Composite Index||2655.66||-2.9%|
|SHBSHR||China Shanghai B Index||335.361||-1.7%|
|Date||Stock||Code||Type||Open Price||Current Price||% P&L||Target||Stop|
|20 Jan 2016||FTSE 100||UKX||Short||5768.22||5990.37||-3.85%||6100|
|26 Jan 2016||China Shanghai B Index||SHBSHR||Short||341.365||335.361||+1.76%||390|
- There are no changes today.
|SPGLOB||S&P Global 1200 Index||Oversold s-t fall reverses near the Aug 2013 low.||1691.27||-0.3%||1640.59||1900.53|
|INDU||DJ Industrials||Recovery from oversold and support near the Aug floor (15370.3) pauses again.||15944.5||-1.4%||14719.4/15340.7/15370.3||17977.9/16593.5|
|SPX||S&P 500 Index||Renews the counter rally from oversold before finding intraday resistance at 1916.99.||1882.95||-1.1%||1737.92/1812.29||2116.48/1950.33|
|CCMP||NASDAQ Comp.||Retraces the recovery from oversold and the Aug floor (4292.14).||4468.17||-2.2%||4116.6/4292.14||4714.8/4591.18|
|NDX||NASDAQ 100||Retraces the counter move from oversold.||4128.86||-2.5%||3787.23/3992.91||4359.3/4268.11|
|UKX||FTSE 100||Recovery from the Nov 2012 low (5605.59) continues to test resistance near 6000.||5990.37||+1.3%||5478.02/5605.59||6314.57/6011.13|
|SX5E||Euro Stoxx 50||Reasserts the recovery from oversold.||3043.47||+0.4%||2789.63/2855.44||3524.04/3345.2|
|CAC||France CAC40 Index||Reasserts the counter move from oversold.||4380.36||+0.5%||3926.34/4084.68||5011.65/4748.76|
|DAX||Germany DAX Index||'Bear trap' recovery follows the failed dip under the Aug/Sept floor (9325.05).||9880.82||+0.6%||9219.05/9314.57||11430.9/10992.6|
|SPMIB||Italy S&P MIB Index||Reasserts the recovery from the oversold 'Trough' KDR of 21 Jan.||18848||-0.4%||17555.8/17836||22875/21730.2|
|IBEX||Spain IBEX 35 Index||Reasserts the small recovery from oversold.||8741||+0.6%||8275.9/8206||10631.6/10000.4|
|OMX||Sweden OMX Index||Renews the counter rally from oversold. Tests initial resistance (1379.95).||1365.59||-0.7%||1246.56/1283.13||1461.49/1379.95|
|SMI||Switzerland SMI Index||Reverses the s-t fall. Failed break under the Aug low.||8322.68||+0.1%||7852.83/7935.47||9080.56/8487.61|
|AS51||Australia ASX200 Index||Small 'bear trap' recovery dithers near the round 5000 level; at the lower side of the prior multi-month trading band.||4976.16||+0.6%||4632.3/4803.9||5384.8|
|SHASHR||China Shanghai A Index||Tests Wed intraday support at 2760.92. RSI oversold again.||2778.98||-2.9%||2552.2||3856.74/3201.75|
|HSI||HK Hang Seng Index||Reasserts the fall towards the mid-2012 low (18056.4) after a small bounce from oversold.||19195.8||+0.8%||17657.7/18056.4||23423.6/22217.5|
|SENSEX||India BSE Sensex Index||Oversold s-t fall pauses.||24469.6||-0.1%||22197.5/23839.8||27618.1/26256.4|
|NKY||Japan Nikkei 225 Index||Renews the rebound from oversold.||17041.5||-0.7%||14529/16017.3||20012.4/17717.8|
|IBOV||Brazil Bovespa Index||Oversold fall shows a loss of momentum.||38376.4||+2.3%||35721.8/37046.1||50894.5/49752|
|SPTSX||Canada TSX Composite||Renews the recovery from oversold.||12377.8||+0.4%||11209.6/11531.2||13344.2|
|VIX||CBOE Volatility Index (VIX)||Retraces the s-t rally.||23.11||+2.7%||10.88/12.8||33.82/32.09|
Copyright 2015 by Stockcube Research Ltd.