In September 2017, I wrote an article about the STOXX 600 Supersector Europe Health Care Index, pointing out that there were technical signs of a delicate but constructive situation. I […]
Looking at the highest performances of the 19 Supersectors of the Stoxx 600 index since the beginning of the year, it can be noted that, in addition to the Technology, […]
In Intermarket analysis, one of the relationships to consider when we analyse the Stoxx 600 Index is its correlation with the USD. Historically the correlation is negative, that is when […]
At the beginning of April, I wrote about short term patterns on the S&P 500 Index and the Stoxx 600 Index. With regard to the stoxx 600 index, I had […]
At the end of September (1), I wrote an article about the Stoxx 600 Index, indicating several factors of a potential bullish construction, although the relative strength signals versus the MSCI World Index and a weakness of the dollar did not favour the strength of the short-term trend.
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).
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.
We expect some consolidation into August for Equities. Indeed, Risk/Reward seems momentarily stretched on the S&P500 Index, while the EuroStoxx 600 could be eying a second leg down into August. Following that, these trends should resume up possibly from late August / early September into October.
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