Equity Indices Summary for Apr 15, 2019
Major World Indices Technical Analysis Market Overview Report for Apr 15, 2019 | by Techniquant Editorial Team
With four out of the seven Major World Indices closing lower today, the ones that stand out on the negative side are HSI losing -0.33% and DJIA closing -0.1% lower. On the flipside the best performers have been NKY closing 1.37% higher and DAX gaining 0.17%.
One of today's most interesting market conditions in the Major World Indices showed up in DJIA: Among the three market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "High close to previous High" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for Dow Indu.. Out of 599 times, DJIA closed higher 55.76% 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 64.11% with an average market move of 0.48%. Read more