Equity Indices Summary for May 15, 2019
Major World Indices Technical Analysis Market Overview Report for May 15, 2019 | by Techniquant Editorial Team
With seven out of the seven Major World Indices closing higher today, the ones that stand out on the positive side are NDX gaining 1.37% and DAX closing 0.9% higher. None of the markets ended the day in the red.
One of today's most interesting market conditions in the Major World Indices showed up in DJIA: Among the seven 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. Although it is usually interpreted as bearish, it has actually shown to be bullish for Dow Indu.. Out of 598 times, DJIA closed higher 55.69% 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 63.88% with an average market move of 0.46%. Read more