Equity Indices Summary for May 22, 2020


Major World Indices Technical Analysis Market Overview Report for May 22, 2020 | by Techniquant Editorial Team

Highlights

HSI dominated by bears dragging the market lower throughout the day
NDX still stuck within tight trading range
DJIA still stuck within tight trading range
SPX finds buyers again around 2933.59
NKY finds buyers at key support level
FTSE breaks below Thursday's low
DAX closes within prior day's range

Summary

With four out of the seven Major World Indices closing lower today, the ones that stand out on the negative side are HSI losing -5.56% and NKY closing -0.8% lower. On the flipside the best performers have been NDX closing 0.38% higher and SPX gaining 0.24%.

One of today's most interesting market conditions in the Major World Indices showed up in HSI: Among the 14 market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close below the lower Bollinger Band" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for Hang Seng. Out of 149 times, HSI closed higher 51.68% 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 61.07% with an average market move of 0.55%. Read more

Major World Indices Overviews

HSI 22,930.14 -1,349.89 (-5.56%) Moving lower for the 2nd day in a row, HSI ended the week -3.64% lower at 22930.14 after tanking $1349.89 (-5.56%) today. This is the biggest single-day loss in over two years. Today's close at 22930.14 marks the lowest recorded closing price since March 24th. The bears were in full control today, moving the market lower throughout the whole session. Ending with a weak close near the low of the day sets a bearish note for the next session. Read more
NDX 9,413.99 36.00 (0.38%) NDX ended the week 2.86% higher at 9413.99 after edging higher $36.00 (0.38%) today ahead of tomorrow's Memorial Day market holiday. Trading up to $38.61 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Read more
DJIA 24,465.16 -8.96 (-0.04%) Moving lower for the 2nd day in a row, DJIA ended the week 3.29% higher at 24465.16 after edging lower $8.96 (-0.04%) today ahead of tomorrow's Memorial Day market holiday. Trading up to $167.91 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session. Read more
SPX 2,955.45 6.94 (0.24%) SPX ended the week 3.2% higher at 2955.45 after edging higher $6.94 (0.24%) today ahead of tomorrow's Memorial Day market holiday. Trading up to $14.46 lower after the open, the index managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session. Read more
NKY 20,388.16 -164.15 (-0.80%) Moving lower for the 2nd day in a row, NKY finished the week 1.75% higher at 20388.16 after losing ¥164.15 (-0.8%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 20503.87, the stock index confirmed its breakout through the previous session low after trading up to ¥168.88 below it intraday. Read more
FTSE 5,993.30 -22.00 (-0.37%) Moving lower for the 2nd day in a row, FTSE ended the week 3.34% higher at 5993.28 after edging lower £22.02 (-0.37%) today ahead of tomorrow's Late May Bank Holiday. Closing below Thursday's low at 6004.10, the market confirmed its breakout through the previous session low after trading up to £115.52 below it intraday. Read more
DAX 11,073.87 7.94 (0.07%) DAX finished the week 5.82% higher at 11073.87 after edging higher €7.94 (0.07%) today. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more

Detailed Reports

Daily technical analysis candlestick chart for Dow Jones Industrial Average Index (DJIA) as at Jul 13, 2020
Jul 13, 2020
Daily technical analysis candlestick chart for Nikkei 225 Index (NKY) as at Jul 13, 2020
Jul 13, 2020
Daily technical analysis candlestick chart for FTSE 100 Index (FTSE) as at Jul 13, 2020
Jul 13, 2020
Daily technical analysis candlestick chart for Nasdaq 100 Index (NDX) as at Jul 13, 2020
Jul 13, 2020
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