Equity Indices Summary for Jul 17, 2019
Major World Indices Technical Analysis Market Overview Report for Jul 17, 2019 | by Techniquant Editorial Team
With seven out of the seven Major World Indices closing lower today, the ones that stand out on the negative side are DAX losing -0.72% and SPX closing -0.65% lower. None of the markets managed to end the day in the green.
One of today's most interesting market conditions in the Major World Indices showed up in NDX: Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Close near low of period" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for Nasdaq 100. Out of 431 times, NDX closed higher 58.70% 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 65.20% with an average market move of 1.11%. Read more