Equity Indices Summary for Feb 14, 2020


Major World Indices Technical Analysis Market Overview Report for Feb 14, 2020 | by Techniquant Editorial Team

Highlights

SPX runs into sellers around 3380.69 for the third day in a row
NDX runs into sellers again around 9634.75
HSI closes within prior day's range after lackluster session
DAX closes below its opening price unable to hold early session gains
NKY closes lower for the 2nd day in a row
FTSE closes lower for the 2nd day in a row
DJIA finds buyers at key support level

Summary

With four out of the seven Major World Indices closing lower today, the ones that stand out on the negative side are NKY losing -0.59% and FTSE closing -0.58% lower. On the flipside the best performers have been HSI closing 0.31% higher and NDX gaining 0.29%.

One of today's most interesting market conditions in the Major World Indices showed up in SPX: Among the eight market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "High close to prior two Highs" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for S&P 500. Out of 128 times, SPX closed higher 61.72% 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 67.97% with an average market move of 0.36%. Read more

Major World Indices Overviews

SPX 3,380.16 6.22 (0.18%) SPX finished the week 1.58% higher at 3380.16 after gaining $6.22 (0.18%) today ahead of tomorrow's Presidents' Day market holiday. Today's close at 3380.16 marks the highest recorded closing price ever. Trading up to $11.93 lower after the open, the S&P managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on February 6th, SPX actually lost -0.54% on the following trading day. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session. Read more
NDX 9,623.58 27.88 (0.29%) NDX finished the week 2.37% higher at 9623.58 after gaining $27.88 (0.29%) today ahead of tomorrow's Presidents' Day market holiday. Today's close at 9623.58 marks the highest recorded closing price ever. Trading up to $30.80 lower after the open, the index managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on February 6th, NDX actually lost -0.47% on the following trading day. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session. Read more
HSI 27,815.60 85.60 (0.31%) HSI finished the week 1.5% higher at 27815.60 after gaining $85.60 (0.31%) today. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session. Read more
DAX 13,744.21 -1.22 (-0.01%) Moving lower for the 2nd day in a row, DAX finished the week 1.7% higher at 13744.21 after edging lower €1.22 (-0.01%) today. Trading €32.04 higher after the open, the stock index was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on January 30th, DAX lost -1.33% on the following trading day. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Read more
NKY 23,687.59 -140.14 (-0.59%) Moving lower for the 2nd day in a row, NKY ended the week -0.59% lower at 23687.59 after losing ¥140.14 (-0.59%) today. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session. Read more
FTSE 7,409.10 -42.90 (-0.58%) Moving lower for the 2nd day in a row, FTSE ended the week -0.77% lower at 7409.13 after losing £42.87 (-0.58%) today. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session. Read more
DJIA 29,398.08 -25.23 (-0.09%) Moving lower for the 2nd day in a row, DJIA finished the week 1.02% higher at 29398.08 after losing $25.23 (-0.09%) today ahead of tomorrow's Presidents' Day market holiday. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session. Read more

Detailed Reports

Daily technical analysis candlestick chart for Nasdaq 100 Index (NDX) as at Oct 19, 2020
Oct 19, 2020
Daily technical analysis candlestick chart for Hong Kong Hang Seng Index (HSI) as at Oct 19, 2020
Oct 19, 2020
Daily technical analysis candlestick chart for Dow Jones Industrial Average Index (DJIA) as at Oct 19, 2020
Oct 19, 2020
Daily technical analysis candlestick chart for S&P 500 Index (SPX) as at Oct 19, 2020
Oct 19, 2020
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