Pretiorates’ Thoughts 32: World equity indices: Are the bears coming back?

Pretiorates Thoughts

What was already looking like it at the end of March is now becoming apparent again: the bears seem to have woken up from hibernation.

stock-market-graph

Optimism has been falling again for several days on most global indices. The trend on the Dow Jones Index is falling into the pessimistic range…

Dow jones Industrial index 1

In the past few days, the S&P500 Index has shown signs of «exaggeration», along with accumulation (blue area in positive territory), underpinned by various «strong actions». This is usually an indication that the trend at the time was not sustainable…

SP500 Index

This assessment is now being confirmed by the renewed decline in optimism…

SP Index500

The same signs are now also evident in the Nasdaq Index…

nasdaq Comp Index

Here too, optimism seems to have peaked…

 

The Japanese Nikkei Index has never really managed to get back into the optimistic range since the end of March…

Nikkei 225

Optimism was very high on the Hang Seng Index in Hong Kong. But here too, sentiment seems to be calming down…

Hang Seng Index

In Europe, there has been no clear sentiment since mid-March. It is not surprising that the Stoxx 50 Index has not shown a clear trend since then either…

EURO STOXX 50 Price EUR

Optimism has recently returned to positive territory, but the Stoxx 50 Index has not been able to make any significant advances…

EURO STOXX 50 Price EUR

The situation looked a little better for the broader Stoxx 600 Index. But optimism is waning – and so is the index…

STOXX EUROPE 600

British investors also celebrated again – without the «Tendency» really confirming it…

UKX Index

In France, the bulls also fought their way back again – without being able to sustainably outperform the high of March. Optimism was also lower than two months ago – and thus no longer convincing…

CAC Index

In Switzerland, the SMI Index was able to make further strong gains, but accompanied by several «strong actions» and «exaggerations» – which are nothing more than warning signs…

SMI Index

The celebration after the new high was extremely loud…

SMI Index

The German DAX index also reached a new high – and optimism is now waning…

SMI Index

Conclusion: After a long hibernation, the bears seem to be hungry…

DAX Index

The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

 

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