SpotLite Euro
Weekly Technical Report
21 February 2006 
Index Trends P&F Trend Stop 5759.3 9,715.1m -27.50 -0.48% Bull 17 Mar 2003 5100.00 9242.2 4,700.0m +34.30 +0.37% Bull 13 Jun 2005 8750.00 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. % Bulls % 30wk Bull Top 24-Jan-06 -0.98 Bull Confirmed 3-Nov-05 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. Code Name Close Wk % Change Wk Volume 186 13.24% 89.9m 1099 10.34% 1.4m 768 8.63% 20.6m 228 8.57% 4.2m 215.5 8.29% 10.9m Code Name Close Wk % Change Wk Volume 181 -49.83% 105.8m 97.5 -15.03% 686.7m 996 -9.45% 10.0m 1100 -8.86% 7.6m 130.5 -7.45% 156.9m Indices 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.Index Close Weekly Volume Weekly Change FTSE 100 FTSE 250 FTSE 350 Index FTSE 100 81.37% -0.98 94.12% FTSE 250 88.31% +4.04 HMV HMV Group PLC SVS Savills PLC LSE London Stock Exchange PLC TPT Topps Tiles PLC FCAM F&C Asset Management PLC IOT iSOFT Group PLC CW/ Cable & Wireless PLC BUR Burren Energy PLC CSR CSR PLC PRTY Party Gaming PLC .jpg "image001 (2).jpg")
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.
$2bn tech-focused hedge fund SoMa Equity Partners to shutter
San Francisco-based hedge fund SoMa Equity Partners is winding down after returning capital to investors, bringing the curtain down on a…
More
Arcana hires former Goldman Sachs exec to Lead EMEA expansion
Portfolio intelligence provider Arcana has appointed former Goldman Sachs executive Rhys Williams as head of EMEA, as the technology firm…
More
ExodusPoint adds Pictet trader to London equities team
Multi-strategy hedge fund major ExodusPoint Capital Management has strengthened its London equities operation with the appointment of Jade…
More
