German Equity Indices Summary for Jan 15, 2020
German Stock Indices Technical Analysis Market Overview Report for Jan 15, 2020 | by Techniquant Editorial Team
With three out of the four German Stock Indices closing lower today, the ones that stand out on the negative side are MDAX losing -0.19% and SDAX closing -0.19% lower. On the flipside the best performer has been TECDAX closing 0.15% higher.
One of today's most interesting market conditions in the German Stock Indices showed up in TECDAX: Among the four market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Close to Swing High" stand out. Although it is usually interpreted as neutral, it has actually shown to be bullish for TecDAX. Out of 676 times, TECDAX closed higher 55.62% 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 61.24% with an average market move of 0.51%. Read more