Author: Deepashree MC

Won Europe Today

Posted on by Deepashree MC

On Friday,

  • European markets rallied to a five-month high after Fed Chair Jerome Powell signaled the possibility of a September rate cut. Traders now see nearly a 90% chance of easing, up from ~75% before his remarks. Separately, data showed Germany’s economy contracted more than initially estimated in Q2.
  • The Stoxx 600 closed 0.4% higher, marking its third consecutive week of gains. It is trading above all its key moving averages. Next resistance is at its early March high (563.1; +0.3%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key resistance levels.
  • Among significant movers on the Stoxx 600, shares of Polish lender PKO Bank (PKB.PL; PKO:PW) fell more than 12% after the country’s finance ministry proposed raising corporate income tax for the sector.
  • Among sectors, Mining (+164bps) and Automobiles (+140bps) were the top gainers, while Utility (-17bps) and Food and Beverage (-13bps) lagged the most.
  • Among major indices, France’s CAC 40 closed 0.4% higher. The index was consolidating after rallying in the previous week. Near-term support is at its 10-DMA, followed by its 21-DMA. Germany’s DAX 30 was up 0.2% and tested support at its flattish 10-DMA. Next support is at its 21-DMA. The U.K.’s FTSE 100 marked its fifth consecutive session of gains, closing 0.1% higher. The index is making new highs.
  • Finland was upgraded to a Confirmed Uptrend from a Rally Attempt after the index reclaimed its previous rally high.
  • Austria and Portugal recorded their second and third distribution day, respectively.
  • All the 16 indices we track closed in the green, except Austria and Portugal. Twelve are in a Confirmed Uptrend, three in a Rally Attempt, and one in an Uptrend Under Pressure. The average distribution day count stands at 2.14.
  • All the 28 European Focus List names are trading above their 200-DMA, while 23 ideas are trading above their 50-DMA.

Actionable names in the European Focus List are Abb (ABBN.CH; ABBN:SW), UCB (UCB.BE; UCB:BB), Talanx (TLXX.DE; TLX:GR), and Bawag (BWGP.AT; BG:AV).

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. Indices are at or near all-time highs after accelerating higher at the end of last week. On
Friday, the S&P 500 and Nasdaq advanced 1.5% and 1.9%, respectively, and regained their 10- and 21-DMA (6,415/21,249). Indices have
been chopping around in a sideways range for the last three weeks. The distribution day count stands at six and three, respectively.

Won Europe Today

Posted on by Deepashree MC

We released our Weekly Global Laggards Report today. Click here to access the full report. The stocks highlighted in this report are laggards relative to their own domestic markets. We recommend that they be underweighted as they may be vulnerable to further downside risk and underperformance. European stocks include Kongsberg Gruppen (KOG.NO; KOG:NO) and Hermes (RMS.FR; RMS:FP).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 declined ~40bps on lower d/d volume, closing just below its 21-DMA.
The Nasdaq ended ~35bps lower on lower d/d volume and remained below its 21-DMA. Next support for the indices is at their 50-DMA
(6,261/20,686). The distribution day count stands at six and three, respectively.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European indices closed mixed. The Stoxx 600 closed higher as strength in consumer and healthcare shares offset weakness in technology and defense stocks. Markets turned optimistic on a potential Russia-Ukraine peace agreement after U.S. and allied talks, but caution prevailed amid uncertainty over military commitments.
  • Among key movers on the Stoxx 600, shares of Rockwool (ROA.DK; ROCKA:DC) fell 16.2%, its sharpest decline in over two years, after the company cut its full-year guidance. Meanwhile, shares of Alcon (ALC.CH; ALC:SW) slid 9.4%, marking its steepest fall in five years, as the company lowered its 2025 sales outlook due to expected U.S. tariff effects.
  • The Stoxx 600 booked a gain of 0.2%. It has next resistance at its March high (+0.8%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Food & Beverage (+232bps), Chemicals (+105bps), and Chemicals (+84bps) were the top gainers, while Travel & Leisure (-115bps), Automobiles & Parts (-61bps), and Technology (-55bps) lagged the most.
  • Among major indices, France’s CAC closed 0.1% lower. It is trading above all key moving averages, with immediate support at its 10-DMA (-1.5%). Germany’s DAX fell 0.6% and tested support at its 10-DMA. Next support is at its 21-DMA (-0.6%). The U.K.’s FTSE bounced off its 10-DMA and advanced 1.2%, hitting an all-time high. Next support is at its 21-DMA (-1.6%).
  • Eight of the 16 markets closed in the green. Eleven are in a Confirmed Uptrend, one in an Uptrend Under Pressure, and four in a Rally Attempt.
  • All 28 European Focus List names are trading above their 200-DMA, while 22 names are trading above their 50-DMA.
  • Actionable names in the Focus List include UCB (UCB.BE; UCB:BB),Abb (ABBN.CH; ABBN:SW), Bawag (BWGP.AT; BG:AV), NatWest (NWG.GB; NWG:LN), and Talanx (TLXX.DE; TLX:GR).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 closed ~25bps lower on higher d/d volume, registering its sixth
distribution day. The index has its first level of support at its 21-DMA (6,373), followed by its 50-DMA (6,254). Meanwhile, the Nasdaq
declined ~70bps on lower d/d volume and broke below its 21-DMA with next support at its 50-DMA (20,658). The distribution day count
stands at six and three, respectively.

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 fell ~0.6% on lower d/d volume, while the Nasdaq declined ~1.5% on
higher d/d volume and registered its third distribution day. The first level of support is at the rising 21-DMA (6,371/21,240), followed by the
50-DMA (6,246/20,627). The distribution day count stands at five and three, respectively

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European stocks closed higher as investors weighed White House talks on the conflict in Ukraine and the potential lifting of sanctions on Russian oil, which put pressure on crude prices. Investors are now shifting their focus to the Federal Reserve’s Jackson Hole meeting later this week, where market sentiment may be influenced by Chair Jerome Powell’s outlook on inflation and growth.
  • The Stoxx 600 booked a gain of 0.7%. Next resistance is at its March high (+1%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • All sectors closed in the green. Automobiles & Parts (+247bps), Chemicals (+201bps), Retail (+183bps), and Food & Beverage (+161bps) were the top gainers.
  • Among major indices, France’s CAC jumped 1.2% on higher volume. Next resistance is at its March high (+0.2%). Germany’s DAX closed 0.4% higher. It traded above all its key moving averages and has next support at its 21-DMA (-1.2%). The U.K.’s FTSE advanced 0.4% and continued to trade above all its key moving averages. Next support is at its 21-DMA (-0.6%).
  • Fourteen of the 16 markets closed in the green. Eleven markets are in a Confirmed Uptrend, one in an Uptrend Under Pressure, and four in a Rally Attempt.
  • France and the Stoxx 600 were upgraded to a Confirmed Uptrend from a Rally Attempt after the indices reclaimed their previous rally high. Sweden was shifted to a Confirmed Uptrend from an Uptrend Under Pressure after the index reclaimed its previous rally high.
  • Belgium recorded its second distribution day. The total average distribution day count stood at 2.57.
  • All 28 European Focus List names are trading above their 200-DMA, while 22 names are trading above their 50-DMA.
  • Actionable names in the Focus List include Abb (ABBN.CH; ABBN:SW), Bawag (BWGP.AT; BG:AV), NatWest (NWG.GB; NWG:LN), Airbus (AIRS.FR; AIR:FP), and Talanx (TLXX.DE; TLX:GR).

Won Europe Today

Posted on by Deepashree MC

We released our European Weekly Summary yesterday. Click here to access the full report. Key points from it include:

  • European markets ended last week mostly positive, with several indices trading at/near their 52-week highs. Italy, Austria, Spain, and Ireland hit fresh highs with ~3% gains, while the U.K. and Belgium made new 52-week highs, up 0.9% each. Denmark, Switzerland, and the Netherlands still face resistance at their key moving averages. France, Sweden, Germany, and others held above their key moving averages.
  • All sectors ended the week in positive territory, except Energy (-0.5%). Health Care (+3.4%) outperformed. Transportation, Basic Material, and Consumer Staple gained 0.4–0.6%. The remaining sectors were up 1.0–1.5%.

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 closed almost flat, while the Nasdaq was up 3bps. The first level of
support is at the rising 10-DMA (6,415/21,481), followed by the 21-DMA (6,367/21,232). The distribution day count stands at five and two,
respectively, after one expired on the S&P 500 following yesterday’s close.