European Equity Indices Summary for Jul 17, 2019


Major European Indices Technical Analysis Market Overview Report for Jul 17, 2019 | by Techniquant Editorial Team

Highlights

CAC breaks below key technical support level
TECDAX breaks back below 20-day moving average
N100 runs into sellers again around 1088.98
FTSE dominated by bears dragging the market lower throughout the day
DAX dominated by bears dragging the market lower throughout the day
BEL20 closes within prior day's range

Summary

With six out of the six Major European Indices closing lower today, the ones that stand out on the negative side are CAC losing -0.76% and DAX closing -0.72% 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 N100: 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 Euronext. Out of 583 times, N100 closed higher 54.55% 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 57.63% with an average market move of 0.22%. Read more

Major European Indices Overviews

CAC 5,571.71 -42.67 (-0.76%) CAC finished Wednesday at 5571.71 tanking €42.67 (-0.76%). This is the biggest single-day loss in over a month. Trading €18.96 higher after the open, the index was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Tuesday's low at 5573.36, CAC 40 confirmed its breakout through the prior session low after trading up to €4.68 below it intraday. Read more
TECDAX 2,876.64 -17.57 (-0.61%) Moving lower for the 2nd day in a row, TECDAX finished Wednesday at 2876.64 losing €17.57 (-0.61%). The bears were in full control today, moving the market lower throughout the whole session. Closing below Tuesday's low at 2888.54, the index confirmed its breakout through the prior session low after trading up to €16.16 below it intraday. Read more
N100 1,081.27 -5.06 (-0.47%) N100 finished Wednesday at 1081.27 losing €5.06 (-0.47%). Trading €4.69 higher after the open, Euronext was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on July 4th, N100 lost -0.57% on the following trading day. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Read more
FTSE 7,535.50 -41.70 (-0.55%) FTSE ended Wednesday at 7535.46 losing £41.74 (-0.55%). The bears were in full control today, moving the market lower 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 12,341.03 -89.94 (-0.72%) DAX finished Wednesday at 12341.03 losing €89.94 (-0.72%). The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range. Read more
BEL20 3,626.13 -23.51 (-0.64%) BEL20 ended Wednesday at 3626.13 losing €23.51 (-0.64%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Read more

Detailed Reports

Daily technical analysis candlestick chart for TecDAX (TECDAX) as at Feb 26, 2020
Feb 26, 2020
Daily technical analysis candlestick chart for DAX Performance-Index (DAX) as at Feb 26, 2020
Feb 26, 2020
Daily technical analysis candlestick chart for CAC 40 Index (CAC) as at Feb 26, 2020
Feb 26, 2020
Daily technical analysis candlestick chart for BEL 20 (BEL20) as at Feb 26, 2020
Feb 26, 2020
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