European Equity Indices Summary for Sep 16, 2020
Major European Indices Technical Analysis Market Overview Report for Sep 16, 2020 | by Techniquant Editorial Team
With five out of the six Major European Indices closing higher today, the ones that stand out on the positive side are BEL20 gaining 0.88% and TECDAX closing 0.79% higher. On the flipside the worst performer has been FTSE closing -0.44% lower.
One of today's most interesting market conditions in the Major European Indices showed up in N100: Among the three market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Bounce off SMA 200" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for Euronext. Out of 17 times, N100 closed higher 64.71% 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 two trading days, showing a win rate of 64.71% with an average market move of 0.02%. Read more