Equity Indices Summary for Jun 11, 2019
Major World Indices Technical Analysis Market Overview Report for Jun 11, 2019 | by Techniquant Editorial Team
With five out of the seven Major World Indices closing higher today, the ones that stand out on the positive side are DAX gaining 0.92% and HSI closing 0.76% higher. On the flipside the worst performers have been DJIA closing -0.05% lower and SPX losing -0.03%.
One of today's most interesting market conditions in the Major World Indices showed up in SPX: Among the three market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bearish Outside Bar" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for S&P 500. Out of 128 times, SPX closed higher 67.97% 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 60.16% with an average market move of 0.15%. Read more