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Watch The CAC as a Market Leader

The Sigma Whole Market Index (aggregate of 16 US indexes) was able to close the week above its 50d MA. So, we consider the risk of further (short term) decline is reduced by this move.

Sigma Whole Market Index Chart

The Sigma Whole Market Index is 0.5% below a strong horizontal resistance (pink line). It will be important to see if the market is able to move above this level in coming sessions.

Sigma Whole Market Index Chart 2

The CAC printed a strong candle on Friday and it is now right below a strong resistance (at 4072). As the CAC has been the clear market leader in recent weeks, it will be highly interesting to monitor if it is able to move above this level early next week.

If the CAC reverse from current level, we are ar risk of a sharp decline.

CAC40 Chart

The DAX remains within its short term uptrend. The green horizontal line is a strong resistance.

DAX Chart

The Sigma Trend Index(STI) remains close to its zero line (at '-3'). It will be important to see if it is able to move back in positive territory. If the STI declines from current levels, it will mean that this week's rebound was just a bounce back within a (new) downtrend.

Sigma Trend Index Table

The ST model uplifted most stops:

SPX - ST Model Table

NDX - ST Model Table

CAC - ST Model Table

DAX - ST Model Table

Short Term Trading Book:
- SPX: 1 long at 1654.12
(stop @ 1611, 3pts below the ST model to take into account bid/ask spread)
- NDX: 1 long at 2868.65 (stop @ 2995, 5pts below the ST model to take into account bid/ask spread)
- CAC: 1 long at 3657.24 (stop @ 3946, 5pts below the ST model to take into account bid/ask spread)
- DAX: 1 long at 7817.14 (stop @ 8130, 10pts below the ST model to take into account bid/ask spread)

Medium Term Trading Book:
- SPX: 2 shorts at 1682.84
(stop @ 1724, 3pts above the MT model to take into account bid/ask spread)

 


For those of you interested in our trades, you can visit our site. You can also subscribe to our twitter account (@SigmaTradingOsc), it is free and you are updated on our latest view/trades. A full description of our ST model and MT models is also available on our site.

 

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