Equity Indices Summary for Dec 06, 2018
Major World Indices Technical Analysis Market Overview Report for Dec 06, 2018 | by Techniquant Editorial Team
With six out of the seven Major World Indices closing lower today, the ones that stand out on the negative side are DAX losing -3.48% and FTSE closing -3.15% lower. On the flipside the best performer has been NDX closing 0.64% higher.
One of today's most interesting market conditions in the Major World Indices showed up in HSI: Among the eight market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Gap Down" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for Hang Seng. Out of 236 times, HSI closed higher 51.69% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 56.78% with an average market move of 0.72%. Read more