Equity Indices Summary for Apr 22, 2019
Major World Indices Technical Analysis Market Overview Report for Apr 22, 2019 | by Techniquant Editorial Team
With three out of the four Major World Indices closing higher today, the ones that stand out on the positive side are NDX gaining 0.31% and SPX closing 0.1% higher. On the flipside the worst performer has been DJIA closing -0.18% lower.
One of today's most interesting market conditions in the Major World Indices showed up in SPX: Among the nine market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Last Engulfing Top Pattern" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for S&P 500. Out of 61 times, SPX closed higher 55.74% 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 68.85% with an average market move of 0.16%. Read more