|International Equity Index Daily Hotline
17 August 2015 By Cornelia Dichio, Analyst
The JSE Africa Industrial 25 index has recorded a 1.3% loss for Friday's session. The market has dipped within the broad range forming beneath the all-time high near 70000. If support at the lower boundary around 64000 fails, a large top will have formed. We will consider selling such a development.
The Italian S&P MIB index continues to encounter resistance at the sideways area around 24000. Initial support near 23000 is under scrutiny. A sustained breach will leave a medium-term top heavy pattern.
Australia's ASX 200 index has extended its short-term fall from resistance in the 5700 region to dip under the June/July floor. A quick push back over 5400 would be required to delay additional slippage towards the January low near 5300.
Malaysia's KLSE Composite index has registered a 1.4% loss for today's session. The market's decline has accelerated. This is a trend-ending feature. Also, the RSI confirms an oversold state. Another feature on the chart worth pointing out is the 'thin lower tail' on the last candlestick. This shows intraday support arriving at the low at 1545.98. Perhaps the counter move has already begun.
In the US, the S&P 500 has reversed up within its broad trading band. Finding support at the lower boundary near 2050, the market points towards the upper perimeter; at the all-time high at 2134.72. However, the pattern may yet turn out to be a large top formation.
|KFX||Denmark KFX Index||997.558||+0.9%|
|RTSI$||Russian Trading System Index $||835.17||+0.8%|
|SHASHR||China Shanghai A Index||4184.13||+0.7%|
|SHCOMP||Shanghai Composite Index||3993.67||+0.7%|
|RTY||Russell 2000 Index||1212.69||+0.7%|
|VIX||CBOE Volatility Index (VIX)||12.83||-4.9%|
|VNINDEX||Vietnam Stock Exchange Index||573.15||-2.7%|
|ASE||Greece Athens SE Index||673.93||-1.9%|
|KLCI||Malaysia KLSE Comp Index||1574.02||-1.4%|
|INDI25||FTSE JSE Africa Industrial 25 Index||65517.8||-1.3%|
- We watch to sell the African index (Chart of the Day).
|SPGLOB||S&P Global 1200 Index||Probable top formation||1922.8||+0.1%||1861.72/1888.2||2007.62/1969.64|
|INDU||DJ Industrials||Finds support above the late-2014/early-2015 floor, but top heavy.||17477.4||+0.4%||17037.8||17783.6/17629.1|
|SPX||S&P 500 Index||Extends the broad range (top?).||2091.54||+0.4%||1980.9/2039.69||2134.72|
|CCMP||NASDAQ Comp.||Rallies into short term tops||5048.23||+0.3%||4825.93/4888.17||5231.94|
|NDX||NASDAQ 100||forms short term tops||4530.74||+0.3%||4280.95/4333.11||4816.35/4694.13|
|UKX||FTSE 100||Reacts to resistance at 50 and 200-day MAs.||6550.74||-0.3%||6298.15/6430.36||6813.41/6764.82|
|SX5E||Euro Stoxx 50||top formation testing its 200-day MA||3491.03||-0.7%||2998.53/3291.3||3836.28/3714.26|
|CAC||France CAC40 Index||Reacts to resistance in the 5200 region. Potential m-t top.||4956.47||-0.6%||4076.16/4571.05||5283.71/5217.8|
|DAX||Germany DAX Index||tests its 200-day MA||10985.1||-0.3%||9382.82/10552.8||12079/11920.3|
|SPMIB||Italy S&P MIB Index||Continues to find resistance around 24000||23248.5||-0.5%||20937.3/22809.3||24558.5/24157.4|
|IBEX||Spain IBEX 35 Index||Develops medium term top||10879.3||-0.6%||10136.4/10316.4||11884.6/11684.6|
|OMX||Sweden OMX Index||encounters top formation||1586.83||-0.5%||1421.34/1507.01||1720.02/1669.13|
|SMI||Switzerland SMI Index||tests short term support at 9200||9346.56||+0.2%||8300.37/8727.95||9548.09/9525.79|
|AS51||Australia ASX200 Index||Holds the s-t fall towards the Jan floor.||5367.66||+0.2%||5267.4/5383.7||5803/5718.9|
|SHASHR||China Shanghai A Index||Probes potential resistance at the 50-day MA.||4184.13||+0.7%||3351.05/3535.59||4521.48/4384.39|
|HSI||HK Hang Seng Index||Retraces the recovery from the oversold and accelerated 8 Jul low.||23814.7||-0.7%||22529.8||26470.4/25634.3|
|SENSEX||India BSE Sensex Index||unwinds into 200-day MA||27878.3||-0.7%||26307.1/27209.2||30024.7/29094.6|
|NKY||Japan Nikkei 225 Index||unwinds into its 50-day MA||20620.3||+0.5%||18928||22750.7/20952.7|
|IBOV||Brazil Bovespa Index||Downtrend towards the Dec-Jan floor.||47508.4||-1.0%||45852.8||53417/50894.5|
|SPTSX||Canada TSX Composite||encounters its 50-day MA at 14,622.||14277.9||+0.3%||13635.5/13892.6||14995.3/14748|
|VIX||CBOE Volatility Index (VIX)||Falls back towards the lows near 12.||12.83||-4.9%||10.28/11.24||25.2/20.05|
Copyright 2015 by Stockcube Research Ltd.