Equity Indices Summary for Sep 10, 2019
Major World Indices Technical Analysis Market Overview Report for Sep 10, 2019 | by Techniquant Editorial Team
With six out of the seven Major World Indices closing higher today, the ones that stand out on the positive side are FTSE gaining 0.45% and DAX closing 0.35% higher. On the flipside the worst performer has been NDX closing -0.23% lower.
One of today's most interesting market conditions in the Major World Indices showed up in NDX: Among the six market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "3 Consecutive Lower Closes" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for Nasdaq 100. Out of 126 times, NDX closed higher 60.32% 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 65.08% with an average market move of 1.28%. Read more