FTSE probes potential resistance zone
Like many European bourses, theUK’s benchmark FTSE 100 index is enjoying a recovery after the previous decline had become oversold (see recent low level of the RSI).
View ArticleA recovery rally underway….
Chart of the day: A trading buy in Italy’s MIB Index? Are equity markets due for a recovery rally? Over the past four/five weeks, the bears were able to smash multiple support levels with ease. The...
View ArticleJapan re-starting rally
Chart of the day: Nasdaq Composite back at resistance trendline…. Nasdaq Composite recovered swiftly last week, where prices surged from 3,300 to 3,450 (see right). But are the bulls strong enough to...
View ArticleNew 2013 lows for Brazil
Chart of the day: Stoxx50 to stay below 2650? Price gaps can sometimes produce useful information. First, it tells us that a supply-demand imbalance has emerged. Second, it gives us some indication...
View ArticleFTSE 100: Not Far From A Temporary Support
After a sharp declinefrom the May high, amounting to more than 10% from peak to trough over only 24 trading days, many investors who did not cover their long positions will be using any forthcoming...
View ArticleBoE report lifts equity markets
Chart of the day: FTSE100 surged following MPC meeting…. The details of the first MPC meeting under Mark Carney have been released. And the market had mixed reactions. For one, the Pound Sterling...
View ArticleNew highs by Russell 2000
The US Russell 2000 index has followed the recent bullish P&F Breakout signal by pushing above the May ceiling at 1008.23.
View ArticleDAX reasserts up
Having recently reaffirmed support at the 200-day moving average, the German DAX index went on to clear short-term range resistance around 8000 on Tuesday. Note that that barrier had formed near the...
View ArticleHSCEI heads for 10000
The Hang Seng China Enterprise index tops the ‘Gainers’ list with +3.7% for today’s session. This market, alongside other China-related indices, is playing catch-up with the global rally in stocks....
View ArticleIndices surge after US Federal Reserve announces it will continue buying bonds..
Nasdaq Composite clears the May high with ease The Fed’s announcement that it will continue its bond buying scheme produced a surging rally in stock markets. A number of US indices are listed with...
View ArticleAfrican Ind.25 index probes all-time high. Italy’s and Spain’s indices react..
The JSE Africa Industrial 25index has generated a ‘Bull’ signal on the automated P&F scanner. This follows Friday’s move through 47500 (see below).
View ArticleNew high by US Mid-cap index
In the USA, the S&P 400 has now joined leading instruments,Russell 2000 and Value Line Composite, in breaking up into unchartered territory. Like the others, the Mid-cap index has been rallying...
View ArticleNew all-time high by Dow
The DJ Industrial Average, shown here, and S&P 500 are two of the US instruments on the Focus List to have achieved fresh highs on Thursday.
View ArticleHang Seng renews s-t uptrend
Hong Kong’s Hang Seng index has renewed its recovery off the oversold June floor. The market experienced only a brief pause near the 50-day moving average before today’s jump.
View ArticleOverbought NASDAQ rally struggles
The short-term rallies by the US NASDAQ indices display further evidence of tiring. The advances had recently become overbought (see high level of the RSI) and a correction is, therefore, due.
View ArticleRecovery scope for VIX
Towards the end of June, theCBOE Volatility Indexencountered stiff resistance near 22; at the December peak. This was in keeping with the high level of the RSI.
View ArticleNikkei 225 rally falters
On 19 July, the benchmarkJapanese Nikkei 225 index plotted a ‘Peak’ Key Day Reversal. That engulfing candlestick capped the rally towards the May ceiling, though nothing much happened for several...
View ArticleNASDAQ Comp. holds near multi-year highs
The US NASDAQ Compositeindex’ rally became overbought around the middle of the month. The market went on to plot a multi-year peak at 3624.54 on 18 July. The next day, a gap downwards occurred....
View ArticleGlobal index starts to correct
Last month, the S&P Global 1200index reaffirmed support at the late-February floor near 1550, having become oversold (see low level of the RSI back then). The subsequent rally from that platform...
View ArticleHang Seng gaps down. Indicators for some markets become overbought…
Chart of the day: Hang Seng tests initial support Hong Kong’s Hang Seng index has recorded a 1.3% loss for today’s session. The market has paused the rally from the June floor finding resistance at...
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