Twenty-three developed markets lost 2.6% on average this week. Twenty-one markets fell by at least 1% apiece. Sixteen markets fell by at least 2%, and 10 markets (the U.K., France, Germany, Japan, Spain, Switzerland, Denmark, New Zealand, Finland, Italy) by at least 3%. Just one market, Ireland (0.1%), managed a gain.
Author: Kenley Scott
Kenley Scott is a senior equity analyst and sector strategist covering the APAC region and the Energy sector. He is a member of the Global Focus List Committee, which approves all equity recommendations for developed, emerging, and frontier markets. Kenley also writes the Global Sector Summary, part of the Sector Strategy service, which identifies emerging sector strength and weakness across 46 countries every week. After working as a commodities broker, Kenley joined the firm in July 2006. He has a B.S. in Statistics from the University of California, Riverside and also holds a Series 65 securities license.
Breadth in Global Leadership Diminishing
Twenty-three developed markets lost 0.5% on average this week. Seventeen markets fell, including five (Australia, Hong Kong, Switzerland, Denmark, Ireland) by at least 1%. Six markets gained, including four (Japan, Spain, Norway, Austria) by at least 1%.
Global Sector Strategy with Kenley Scott – October 27, 2016
Kenley Scott, lead sector strategist for O’Neil Equity Research, will highlight names of interest from the US, developed, and emerging markets.
Market View
The market remains Under Pressure until we see the indices begin to trade back above their respective 50-day moving averages, distribution subside, and leadership re-emerge. U.S. indices traded slightly higher this week, still trading within a range and above the breakout in early July. Distribution stands at five days for the S&P 500 and four for the Nasdaq, with no days set to expire until November 2. Leadership has improved, though most ideas continue to consolidate ahead of a heavy influx of earnings results set to hit the tape over the next few weeks.
Market View
U.S. indices have now been range bound for several weeks. Distribution on the S&P 500 remains elevated, though two days fall off next week. The Nasdaq continues to be the leading index, trading just off all-time highs and above its 50-day moving average. Isolated leadership from multiple technology industry groups have ex-tended their gains, but again, a widening of breadth is still needed in order for the market to make new highs. The market remains in a Confirmed Uptrend, despite very little progress on the S&P 500 since the July 8 follow-through day.
Global Sector Strategy with Kenley Scott – September 29, 2016
Kenley Scott, lead sector strategist for O’Neil Equity Research, will look at key market conditions across the globe. He will then focus on areas of interest in the US, specifically the relationship between the outperforming technology sector and lagging transport sector. Then he will look at the developed and emerging markets, using a bottom-up approach to pick stocks.
Resilient Markets Attempt to Shake Off Rising Distribution
Twenty-three developed markets gained 0.8% on average this week. Much of the gain was due to astrong showing Friday from European markets, which were up well over 1% on average. Seventeen markets gained, including five (Japan, France, Spain, the Netherlands, Belgium) by at least 1.7%. Five markets fell, including Australia (-2.4%) and Singapore (-1.9%).
Global Sector Strategy with Kenley Scott – September 1, 2016
Kenley Scott, lead sector strategist for O’Neil Equity Research, will begin by looking at key points on global market conditions and the general rise in distribution. He will then focus on each market classification, looking at the post-breakout US market, Japan’s possible turn in the developed markets, and India’s strength in the emerging markets.
Global Distribution Rises Further
Twenty-three developed markets gained 0.4% on average this week. Thirteen markets gained, including four (Italy, Spain, Ireland, Austria) by at least 1.4%. Nine markets fell, although only Japan (-1.1%) lost at least 1%.
Nearly all Markets Rise, Developed Outperforms
Twenty-three developed markets together gained 1.7% on average this week. Twenty-one markets gained, including 12 by at least 2% and four (Japan, Germany, Finland, Portugal) by at least 3%. Denmark (-2.2%) and Israel (-0.1%) were the only two markets to fall.
