Tag Archive for: U.S. equity indexes

Global Equity Markets

Global Equity Markets

(Excerpt from last Friday’s Premium Report)

 

The S&P cumulative A/D line is rolling over – the type of rollover experienced in the 4th quarter of 2018 is still not visible. Most Global Equity Markets are in strong down-trends or completed significant top patterns this past week.

 

 

S&P 500 (CME)

The daily chart has completed a H&S top pattern with a target of 2632.

 

Global Equity Markets - S-P Peter Brandt - Factor Trading

 

NY Composite Index

NYA has completed a H&S top. Note that my charting style ignores the early Mar decline. I make no attempt to include this price action as part of the H&S top. I always prefer a horizontal neckline to a slanted neckline.

 

 

NASDAQ (CME)

The decline on through the neckline of an H&S top on the daily graph, thus providing a sell signal. Factor is short.    All major U.S equity indexes as well as many global indexes displayed clearly defined bearish chart patterns – as a result I extended my sizing on this trade relative to many recent trades, still remaining well under 100 BPs for a risk level. I already began squeezing out risk by the close on Friday by advancing stop protection.

 

 

Nikkei Dow (CME)

Perhaps the cleanest H&S breakdown belongs to the Nikkei Dow. The CME contract is shown, although I typically trade the Nikkei at the Osaka Stock Exchange.

 

Global Equity Markets - Nikkei Dow - Peter Brandt - Factor Trading

 

 

 

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Factor Update, May 21, 2017

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