The London FTSE is still down year-to-date, but it is the best performing index in Europe for 2016. The PerfChart below shows year-to-date performance for nine European stock indexes. The London FTSE is in the middle (light blue) and down less than 1% this year. In comparison, the Madrid IBEX 35 (black), Portuguese PSI (teal), Swiss Market Index (purple) and Italian MIB (orange) are down double digits. The Netherlands AEX is the only European Index holding up this year because it is down just 1.30%.
The CandleClance charts below show the London FTSE moving above its 200-day moving average this week. The German DAX Index ($DAX) and Netherlands AEX ($AEX) also surged the last two days and both are challenging two moving averages (50-day and 200-day). Three are the three leaders in Europe right now.
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--Arthur Hill CMT
Plan your Trade and Trade your Plan
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