Stoxx 600

Stoxx 600: a positive but delicate construction

In January, I wrote an article about the situation of the Stoxx 600 Index, indicating that it had a good strength and that some pattern studies suggested that the Index could lead to a probable formation of a higher low before to start a new uptrend leg (1). In reality the retracement begun later: the bullish short term trend easily crossed the down trend line (b), the resistance level of the previous 2015 high, situated at Fibonacci level of 23,6% (a), and topped in May with an higher high (H1). Then we had a retracement that apparently stopped at the 38.2% Fibonacci level, forming the aforementioned higher low (L1). The oscillator also turned upward after touching the zero line (c).

Continue reading

Stoxx 600 Health Care Index: a delicate but constructive situation

At the end of 2016 (1), I wrote an article about the STOXX Supersector Europe 600 Health Care Index, pointing out that there were technical signs of a possible recovery. I indicated that the Index in July 2016 reached an important high at about 780, and I suggested that this was the level to overcome to have the first confirmation that the healthcare European equity market had regained its strength.

Continue reading