European Equity Indices Summary for Sep 16, 2020


Major European Indices Technical Analysis Market Overview Report for Sep 16, 2020 | by Techniquant Editorial Team

Highlights

CAC finds buyers around 5029.56 for the third day in a row
N100 fails to close above 200-day moving average
DAX closes above its opening price after recovering from early selling pressure
BEL20 rises to highest close since August 26th
FTSE runs into sellers again around 6119.24
TECDAX closes higher for the 3rd day in a row

Summary

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

Major European Indices Overviews

CAC 5,074.42 6.49 (0.13%) Moving higher for the 4th day in a row, CAC ended Wednesday at 5074.42 edging higher €6.49 (0.13%). Today's close at 5074.42 marks the highest recorded closing price since July 21st. Trading up to €36.19 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Read more
N100 998.92 2.95 (0.30%) Moving higher for the 4th day in a row, N100 finished Wednesday at 998.92 gaining €2.95 (0.3%). Today's close at 998.92 marks the highest recorded closing price since August 26th. Trading up to €3.84 lower after the open, the index managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session. Read more
DAX 13,255.37 37.70 (0.29%) Moving higher for the 2nd day in a row, DAX ended Wednesday at 13255.37 gaining €37.70 (0.29%). Today's close at 13255.37 marks the highest recorded closing price since February 21st. Trading up to €42.60 lower after the open, the index managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Read more
BEL20 3,392.90 29.75 (0.88%) Moving higher for the 3rd day in a row, BEL20 finished Wednesday at 3392.90 gaining €29.75 (0.88%). Today's close at 3392.90 marks the highest recorded closing price since August 26th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Tuesday's high at 3380.54, the market confirmed its breakout through the previous session high after trading up to €12.36 above it intraday. Read more
FTSE 6,078.50 -27.00 (-0.44%) FTSE ended Wednesday at 6078.48 losing £27.02 (-0.44%). Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session. Read more
TECDAX 3,117.23 24.28 (0.79%) Moving higher for the 3rd day in a row, TECDAX ended Wednesday at 3117.23 gaining €24.28 (0.79%). Closing above Tuesday's high at 3107.30, the market confirmed its breakout through the prior session high after trading up to €20.44 above it intraday. Read more

Detailed Reports

Daily technical analysis candlestick chart for TecDAX (TECDAX) as at Oct 22, 2020
Oct 22, 2020
Daily technical analysis candlestick chart for CAC 40 Index (CAC) as at Oct 22, 2020
Oct 22, 2020
Daily technical analysis candlestick chart for Euronext 100 (N100) as at Oct 22, 2020
Oct 22, 2020
Daily technical analysis candlestick chart for DAX Performance-Index (DAX) as at Oct 22, 2020
Oct 22, 2020
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