European Equity Indices Summary for Aug 13, 2019
Major European Indices Technical Analysis Market Overview Report for Aug 13, 2019 | by Techniquant Editorial Team
With six out of the six Major European Indices closing higher today, the ones that stand out on the positive side are CAC gaining 0.99% and N100 closing 0.66% higher. None of the markets ended the day in the red.
One of today's most interesting market conditions in the Major European Indices showed up in CAC: Among the four market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bullish Outside Bar" stand out. While it is usually interpreted as bullish, it has actually shown to be bearish for CAC 40. Out of 126 times, CAC closed lower 55.56% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after seven trading days, showing a win rate of 47.62% with an average market move of -0.14%. Read more