Equity Indices Summary for Mar 14, 2019
Major World Indices Technical Analysis Market Overview Report for Mar 14, 2019 | by Techniquant Editorial Team
With four out of the seven Major World Indices closing higher today, the ones that stand out on the positive side are FTSE gaining 0.37% and HSI closing 0.15% higher. On the flipside the worst performers have been NDX closing -0.19% lower and SPX losing -0.09%.
One of today's most interesting market conditions in the Major World Indices showed up in FTSE: Among the four market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bullish Break through SMA 20" stand out. While it is usually interpreted as bullish, it has actually shown to be bearish for FTSE 100. Out of 157 times, FTSE closed lower 52.87% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after 10 trading days, showing a win rate of 50.96% with an average market move of 0.02%. Read more