Equity Indices Summary for Jul 11, 2019
Major World Indices Technical Analysis Market Overview Report for Jul 11, 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 DJIA gaining 0.85% and HSI closing 0.81% higher. On the flipside the worst performers have been DAX closing -0.33% lower and FTSE losing -0.28%.
One of today's most interesting market conditions in the Major World Indices showed up in NDX: Among the two market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "High close to prior High" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for Nasdaq 100. Out of 533 times, NDX closed higher 55.91% 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 62.29% with an average market move of 0.62%. Read more