Key points from this week’s report:
Please refer to the attached PDF for the full report.
- The Stoxx 600 gained ~2.9% last week and reclaimed its prior rally high, breaking out to new all-time highs and decisively clearing the ~560 resistance level that had been tested multiple times in recent months. As a result, the index’s status was shifted back to a Confirmed Uptrend. Distribution has also improved; the current count stands at two, as two days aged out during the week.
- Along with the Stoxx 600, France, the U.K., Sweden, Switzerland, Portugal, Spain, and Belgium were all upgraded to a Confirmed Uptrend, while Denmark was shifted to a Rally Attempt from a Downtrend. Among the 16 indices we cover, nine are in a Confirmed Uptrend, four in a Rally Attempt, and three in an Uptrend Under Pressure. The average distribution now stands at ~2.3, improving from ~4.8 in the prior week.
