Equity Indices Summary for Dec 06, 2018


Major World Indices Technical Analysis Market Overview Report for Dec 06, 2018 | by Techniquant Editorial Team

Highlights

FTSE closes lower for the 3rd day in a row
DAX dominated by bears dragging the market lower throughout the day
DJIA ends the day indecisive
HSI tanks, losing $663.30 (-2.47%) within a single day
NKY breaks below key technical support level
NDX dominated by bulls lifting the market higher throughout the day
SPX closes above its opening price after recovering from early selling pressure

Summary

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

Major World Indices Overviews

FTSE 6,704.10 -217.70 (-3.15%) Moving lower for the 3rd day in a row, FTSE ended Thursday at 6704.05 tanking £217.75 (-3.15%). This is the biggest single-day loss in over three years. Today's close at 6704.05 marks the lowest recorded closing price since November 4, 2016. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 6921.80, the index confirmed its breakout through the previous session low after trading up to £248.23 below it intraday. Read more
DAX 10,810.98 -389.26 (-3.48%) Moving lower for the 3rd day in a row, DAX finished Thursday at 10810.98 tanking €389.26 (-3.48%). This is the biggest single-day loss in over two years. The last time we've seen such an unusually strong single-day loss on November 20th, DAX actually gained 1.61% on the following trading day. Today's close at 10810.98 marks the lowest recorded closing price since December 6, 2016. The bears were in full control today, moving the market lower throughout the whole session. Ending with a weak close near the low of the day sets a bearish note for the next session. Read more
DJIA 24,947.67 -79.40 (-0.32%) Moving lower for the 2nd day in a row, DJIA ended Thursday at 24947.67 losing $79.40 (-0.32%) on high volume ahead of tomorrow's NFP report. Trading up to $495.20 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on Monday, DJIA actually lost -3.10% on the following trading day. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session. Read more
HSI 26,156.38 -663.30 (-2.47%) Moving lower for the 2nd day in a row, HSI ended Thursday at 26156.38 tanking $663.30 (-2.47%). This is the biggest single-day loss in over a month. Read more
NKY 21,501.62 -417.71 (-1.91%) Moving lower for the 3rd day in a row, NKY ended Thursday at 21501.62 tanking ¥417.71 (-1.91%). Today's close at 21501.62 marks the lowest recorded closing price since October 30th. Closing below Wednesday's low at 21708.82, the Nikkei confirmed its breakout through the previous session low after trading up to ¥401.10 below it intraday. Read more
NDX 6,838.85 43.64 (0.64%) NDX ended Thursday at 6838.85 gaining $43.64 (0.64%) ahead of tomorrow's NFP report. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Read more
SPX 2,695.95 -4.11 (-0.15%) Moving lower for the 2nd day in a row, SPX ended Thursday at 2695.95 edging lower $4.11 (-0.15%) ahead of tomorrow's NFP report. Trading up to $41.98 lower after the open, the index managed to reverse during the session as bulls took control ending the day above its opening price. Read more

Detailed Reports

Daily technical analysis candlestick chart for Nikkei 225 Index (NKY) as at Dec 11, 2018
Dec 11, 2018
Daily technical analysis candlestick chart for Hong Kong Hang Seng Index (HSI) as at Dec 11, 2018
Dec 11, 2018
Daily technical analysis candlestick chart for Nasdaq 100 Index (NDX) as at Dec 10, 2018
Dec 10, 2018
Daily technical analysis candlestick chart for FTSE 100 Index (FTSE) as at Dec 10, 2018
Dec 10, 2018
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