| SpotLite Euro Weekly Technical Report 21 February 2006 |
 |
Index Trends
| Index | Close | Weekly Volume | Weekly Change |
P&F Trend |
Stop |
||
| FTSE 100 |
5759.3 |
9,715.1m |
-27.50 |
-0.48% |
Bull |
17 Mar 2003 |
5100.00 |
| FTSE 250 |
9242.2 |
4,700.0m |
+34.30 |
+0.37% |
Bull |
13 Jun 2005 |
8750.00 |
| FTSE 350 |
2979.8 |
14,485.4m |
-10.60 |
-0.35% |
Bull |
18 Nov 2005 |
2600.00 |
|
Closing prices through Fri Feb 3, 2006 |
|||||||
Table shows previous close of index with weekly change. Point & Figure Trend indicator shows prevailing medium-term trend with date of initiation of trend, as determined by Investors Intelligence three-box reversal methodology. The stop shows the level at which the current trend would reverse.
Breadth Status
| Index |
% Bulls |
% 30wk |
||||||
| FTSE 100 | 81.37% | -0.98 |
Bull Top |
24-Jan-06 |
94.12% |
-0.98 |
Bull Confirmed |
3-Nov-05 |
| FTSE 250 | 88.31% | +4.04 |
Bull Confirmed |
3-Nov-05 |
90.32% |
-0.81 |
Bull Confirmed |
31-Oct-05 |
Investors Intelligence Breadth indicators determine the number of constituent stocks within an index holding P&F uptrends and are used to determine the degree of participation for any index move, with bull markets accompanied by rising or firm breadth statistics. Extreme readings, typically below 10% and above 90% indicate unsustainably low/high investors sentiment and are a sign of oversold or overbought conditions.
Top 5 Weekly Gains
|
Code |
Name |
Close |
Wk % Change |
Wk Volume |
| HMV | HMV Group PLC |
186 |
13.24% |
89.9m |
| SVS | Savills PLC |
1099 |
10.34% |
1.4m |
| LSE | London Stock Exchange PLC |
768 |
8.63% |
20.6m |
| TPT | Topps Tiles PLC |
228 |
8.57% |
4.2m |
| FCAM | F&C Asset Management PLC |
215.5 |
8.29% |
10.9m |
Top 5 Weekly Losses
|
Code |
Name |
Close |
Wk % Change |
Wk Volume |
| IOT | iSOFT Group PLC |
181 |
-49.83% |
105.8m |
| CW/ | Cable & Wireless PLC |
97.5 |
-15.03% |
686.7m |
| BUR | Burren Energy PLC |
996 |
-9.45% |
10.0m |
| CSR | CSR PLC |
1100 |
-8.86% |
7.6m |
| PRTY | Party Gaming PLC |
130.5 |
-7.45% |
156.9m |
Indices
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Last week’s price action was rather choppy, following a sharp countertrend reaction on the leading US indices. Even so, the UK indices faired well and managed to hold onto their recent gains.
On the FTSE350, bulls need to reignite strength through psychological resistance at 3000 and extend its primary upward trend.
Until such a time we continue to monitor near-term support levels, along the 20 day moving average. These levels come in on the FTSE100 at 5720, on FTSE250 at 9030 and finally on the FTSE350 at 2950. A break below these levels would offer us early signs of trend weakness, back to the January reaction lows.
From an indicator perspective, we highlight the MACD (a trend-following momentum indicator that shows the relationship between two price moving averages), developing short-term negative divergence, as it fails to register a higher high, against the rising price trend backdrop, (See bottom axis on chart, above).
Breadth data has not made any significant changes, with the FTSE250 bullish% indicator (see, right) edging marginally lower from its overbought conditions.
Our technical assessment remains positive, while breadth data holds above the key 80% zone.
Meanwhile, only a decisive move below the 80% level would offer uptrend weakness and suggest that the proportion of stocks within a group (secotr or index) are losing their P&F uptrends.
