Equity Indices Summary for Dec 02, 2019
Major World Indices Technical Analysis Market Overview Report for Dec 02, 2019 | by Techniquant Editorial Team
With five out of the seven Major World Indices closing lower today, the ones that stand out on the negative side are DAX losing -2.05% and NDX closing -1.12% lower. On the flipside the best performers have been NKY closing 1.01% higher and HSI gaining 0.37%.
One of today's most interesting market conditions in the Major World Indices showed up in NDX: Among the 11 market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Price broke through Technical Support S1" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for Nasdaq 100. Out of 220 times, NDX closed higher 59.09% 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 65.91% with an average market move of 0.90%. Read more