Equity Indices Summary for Oct 09, 2019
Major World Indices Technical Analysis Market Overview Report for Oct 09, 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 1.13% and DAX closing 1.04% higher. On the flipside the worst performers have been HSI closing -0.81% lower and NKY losing -0.61%.
One of today's most interesting market conditions in the Major World Indices showed up in DJIA: Among the four market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "High close to previous High" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for Dow Indu.. Out of 599 times, DJIA closed higher 56.09% 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 63.27% with an average market move of 0.41%. Read more