Equity Indices Summary for Oct 16, 2020


Major World Indices Technical Analysis Market Overview Report for Oct 16, 2020 | by Techniquant Editorial Team

Highlights

NKY closes below its opening price unable to hold early session gains
FTSE breaks back above 20-day moving average
DAX misses to close above 50-day moving average
NDX closes lower for the 4th day in a row
HSI dominated by bulls lifting the market higher throughout the day
SPX closes within previous day's range after lackluster session
DJIA ends the day indecisive

Summary

With five out of the seven Major World Indices closing higher today, the ones that stand out on the positive side are DAX gaining 1.62% and FTSE closing 1.49% higher. On the flipside the worst performers have been NKY closing -0.41% lower and NDX losing -0.39%.

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 Price Action based market condition "Closed below last periods low" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for Nikkei 225. Out of 266 times, NKY closed higher 59.02% 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 60.15% with an average market move of 0.72%. Read more

Major World Indices Overviews

NKY 23,410.63 -96.60 (-0.41%) Moving lower for the 2nd day in a row, NKY ended the week -0.89% lower at 23410.63 after losing ¥96.60 (-0.41%) today. Trading ¥60.34 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 September 25th, NKY actually gained 1.32% on the following trading day. Closing below Thursday's low at 23458.43, the market confirmed its breakout through the prior session low after trading up to ¥70.16 below it intraday. Read more
FTSE 5,919.60 87.10 (1.49%) FTSE finished the week -1.61% lower at 5919.58 after gaining £87.08 (1.49%) today. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Read more
DAX 12,908.99 205.24 (1.62%) DAX finished the week -1.09% lower at 12908.99 after gaining €205.24 (1.62%) today. Closing above Thursday's high at 12839.55, the stock index confirmed its breakout through the prior session high after trading up to €116.31 above it intraday. Read more
NDX 11,852.17 -46.40 (-0.39%) Moving lower for the 4th day in a row, NDX ended the week 1.08% higher at 11852.17 after edging lower $46.40 (-0.39%) today. Trading $82.03 higher after the open, Nasdaq 100 was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on Tuesday, NDX lost -0.81% on the following trading day. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range. Read more
HSI 24,386.79 228.25 (0.94%) HSI finished the week 1.11% higher at 24386.79 after gaining $228.25 (0.94%) today. The bulls were in full control today, moving the market higher throughout the whole session. 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
SPX 3,483.81 0.47 (0.01%) SPX ended the week 0.19% higher at 3483.81 after edging higher $0.47 (0.01%) today. Trading $22.26 higher after the open, the 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 September 16th, SPX lost -0.84% 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
DJIA 28,606.31 112.11 (0.39%) DJIA ended the week 0.07% higher at 28606.31 after gaining $112.11 (0.39%) today. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session. Read more

Detailed Reports

Daily technical analysis candlestick chart for DAX Performance-Index (DAX) as at Nov 27, 2020
Nov 27, 2020
Daily technical analysis candlestick chart for Dow Jones Industrial Average Index (DJIA) as at Nov 27, 2020
Nov 27, 2020
Daily technical analysis candlestick chart for Nikkei 225 Index (NKY) as at Nov 27, 2020
Nov 27, 2020
Daily technical analysis candlestick chart for S&P 500 Index (SPX) as at Nov 27, 2020
Nov 27, 2020
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