European Equity Indices Summary for Jul 09, 2019
Major European Indices Technical Analysis Market Overview Report for Jul 09, 2019 | by Techniquant Editorial Team
With six out of the six Major European Indices closing lower today, the ones that stand out on the negative side are DAX losing -0.85% and TECDAX closing -0.69% lower. None of the markets managed to end the day in the green.
One of today's most interesting market conditions in the Major European Indices showed up in CAC: Among the three market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "3 Consecutive Lower Closes" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for CAC 40. Out of 152 times, CAC closed higher 55.92% 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 60.53% with an average market move of 0.93%. Read more