Equity Indices Summary for Aug 13, 2019
Major World Indices Technical Analysis Market Overview Report for Aug 13, 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 NDX gaining 2.2% and SPX closing 1.51% higher. On the flipside the worst performers have been HSI closing -2.1% lower and NKY losing -1.11%.
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 "Bearish Bounce off SMA 100" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for Dow Indu.. Out of 16 times, DJIA closed higher 62.50% 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 68.75% with an average market move of 0.50%. Read more