European Equity Indices Summary for Jan 16, 2020
Major European Indices Technical Analysis Market Overview Report for Jan 16, 2020 | by Techniquant Editorial Team
With four out of the six Major European Indices closing higher today, the ones that stand out on the positive side are TECDAX gaining 0.84% and BEL20 closing 0.43% higher. On the flipside the worst performers have been FTSE closing -0.43% lower and DAX losing -0.02%.
One of today's most interesting market conditions in the Major European Indices showed up in FTSE: Among the five market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bearish Outside Bar" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for FTSE 100. Out of 120 times, FTSE closed higher 60.00% 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 53.33% with an average market move of 0.17%. Read more