Equity Indices Summary for Feb 13, 2020
Major World Indices Technical Analysis Market Overview Report for Feb 13, 2020 | 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 FTSE losing -1.09% and DJIA closing -0.43% 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 NKY: Among the six market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "High close to prior High" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for Nikkei 225. Out of 425 times, NKY closed higher 55.76% 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 58.35% with an average market move of 0.56%. Read more