Al Rajhi Bank is world’s leading Islamic bank with total assets of SAR 356B. The bank continues to grow by expanding its loan and deposit market share.
Author: Saminathan Jaganathan
China A Shares
Te CSI 300 rose 2.09% through Tursday, remaining in a Confrmed Uptrend with one distribution day. Te index consolidated constructively for the week and has rallied 35% year-todate. As long as key support holds, the market should trend positively, supported by strong fnancial and economic data from March and Q1 2019. Since trading volume fell this week, we expect continued consolidation in the near term while individual stock trends diverge. We recommend that investors stay disciplined and patient, not chasing extended stocks. Buy stocks with strong earnings and growth outlook at a proper entry point. Te CSI 300’s next resistance is at ~4,100 and support is at ~3,900
US Focus
Te U.S. market is in a Confrmed Uptrend. Te S&P 500 and Nasdaq continue to trend higher, holding near-term support along their respective 10-DMAs on Tursday. Distribution stands at three days each with no expiration until the end of next week. Should a pullback occur, we will be looking for the rising 21-DMA t
European Focus
On Wednesday, the Stoxx 600 closed 0.10% higher, gaining 0.53% on a weekly basis
Global Focus Developed
Australia’s ASX All Ordinaries Index was up 0.05% this week. Te index added one distribution day, taking the total count to four. It remains in a Confirmed Uptrend.
Global Focus Emerging
Te CSI 300 rose 2.09% through Tursday, remaining in a Confirmed Uptrend with one distribution day. Te index consolidated constructively for the week. Its next resistance is at ~4,100 and support is at ~3,900
Global Focus Frontier
Al Rajhi Bank is world’s leading Islamic bank with total assets of SAR 356B. Te bank continues to grow by expanding its loan and deposit market share.
China A Shares
Te CSI 300 dropped -1.81% for the week on decreased volume. Te market remains in a Confrmed Uptrend with no distribution days. It was not a surprise the index pulled back after a four-week gaining streak, and it remains constructive if key support holds and distribution days remain low. Te next immediate support is at ~3,900, and resistance at ~4,100 for the CSI 300
US Focus
Te U.S. market is in a Confrmed Uptrend. Te S&P 500 and Nasdaq continue to trend higher, making new year-to-date highs on Friday. Te distribution count has moderated to a reasonable level of just two days on the S&P 500 and three on the Nasdaq. Te 50-DMA on both indices is now well above the 200-DMA, though we still view the 21-DMA (S&P 500: 2,854; Nasdaq: 7,810) as a key level of short-term support.
European Focus
On Tursday, the Stoxx 600 closed 0.27% below last Friday’s close. Te index is in a Confirmed Uptrend with three distribution days. Tis week, the index reached a new high for the year and has been trading sideways since. Of the 17 indices in Europe that we cover, 15 are in a Confirmed Uptrend and two are in an Uptrend Under Pressure
