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Now Nasdaq whipsaws

The vast majority of our IC/Coppock Indicators remain on 'Hold' and are producing healthy rises after their 'buy' signals were given back in the summer. There were, however, two new 'official buy' signals given in December and one which was unofficial.
January 10, 2013

The IC/Coppock Indicator for the Nasdaq 100 index has been whipsawing around acting in a similar fashion to the gold miner indices back in November. News that the fiscal cliff in the US has been averted may augur well for the constituents of this high-tech industry and the index could take off in January.

The two official buy signals came from the personal care and food and drug retail sectors of the FTSE All-Share Index. There are worries concerning the UK High Street retailers who are being pushed out by their online counterparts, but personal care products along with food and drugs are more essential to living and may not be affected to the same degree.

Summary table of IC/Coppock indicators - major markets worldwide:

Index/marketDecember average indexDecember indicator*November indicator*October indicator*Signal†
UK Govt. Secs171.44+27.0+35.3+43.6WAIT
FT 30 2,176.19+41.1+19.0-0.8HOLD
FTSE 1005,922.71+26.7+19.7+12.6HOLD
FTSE All-Share3,099.07+31.2+22.4+13.8HOLD
FT Gold Mines2,795.50-113.4-111.9-107.5WAIT
Amsterdam528.77+37.7+24.9+8.4HOLD
ASX All Ord4,597.10+7.2-6.1-16.9HOLD
S&P/ASX 200 Energy12,312.17-54.3-59.6-61.2HOLD
Belgium S.E.8,785.05+74.6+57.5+35.1HOLD
Dax (Germany)7,576.16+89.3+65.3+42.6HOLD
Dow Jones13,144.18+58.4+58.3+57.4HOLD
Rep of Ireland (ISEQ)3,346.40+112.6+107.2+96.2HOLD
France CAC 403,631.78+25.4+2.1-21.2HOLD
Hang Seng22,406.18+29.1+4.6-17.6HOLD
Italy BCI854.02-31.2-52.1-72.3HOLD
S. Africa Gold2,237.43-86.6-70.6-51.7WAIT
S. Africa Industrial36,642.57+145.0+138.2+131.3HOLD
Straits Times3,139.68+35.2+18.9+8.4HOLD
Tokyo New S.E.811.87-6.4-23.4-35.0HOLD
Toronto Comp12,290.25-13.3-23.9-32.9HOLD
Toronto Gold2,485.88-116.6-115.5-112.6WAIT
Sweden OMX1,101.39+45.0+32.3+19.2HOLD
FTSE techMARK 1002,475.51+88.2+76.1+64.9HOLD
Nasdaq 1002,658.75+96.8+96.2+97.1BUY††
*Average index for December 2012. †IC/Coppock indicator. ††Unofficial signal. BUY/SELL = self explanatory; WAIT = you sold at the last sell signal and are now waiting for the next buy signal; HOLD = you bought at the last buy signal and are now awaiting the next sell signal.

For a list of the constituents of the FTSE All-Share sector indices click here

Summary table of IC/Coppock indicators - FTSE All-Share sectors:

SectorDecember average indexDecember indicator*November indicator*October indicator*Signal†
Mining18,503.87-75.1-91.2-102.0HOLD
Oil & Gas7,713.16-8.2+0.2+5.9WAIT
Chemicals9,719.54+147.5+133.1+120.9HOLD
Constr & Bldg materials3,403.30-11.3-23.8-35.9HOLD
Forestry & paper7,773.41+118.5+78.9+36.1HOLD
Steel & other metals2,986.31-253.1-267.1-277.0HOLD
Aerospace & defence4,088.75+109.1+103.0+98.4HOLD
Diversified industrls2,782.79+96.7+73.5+50.7HOLD
Electronic & electr eqpt4,371.25+108.5+85.3+67.4HOLD
Eng'g & machinery8,290.51+57.2+49.6+44.1HOLD
Automobiles & parts5,345.80+53.1+31.8+17.4HOLD
H'hold goods textiles2,803.63-71.9-99.2-108.3HOLD
Beverages13,306.93+161.1+155.9+147.5HOLD
Food producers6,499.84+70.3+64.0+58.1HOLD
Health3,888.57+51.6+38.8+22.7HOLD
Personal care17,402.11-21.8-28.8-25.0BUY
Pharmaceuticals9,428.54+13.5+22.6+31.2WAIT
Tobacco36,526.62+77.1+90.6+101.9WAIT
General retailers1,935.72+95.8+70.1+48.3HOLD
Leisure & hotels5,129.22+96.9+75.3+52.4HOLD
Media entertainment4,841.36+81.0+67.5+55.4HOLD
Support services5,099.33+108.6+95.7+79.4HOLD
Transport3,188.46+32.2+12.6-6.6HOLD
Food & drug retailers4,256.58-63.3-66.9-66.4BUY
Telecommns services2,817.84+108.9+94.6+82.2HOLD
Electricity8,992.02+34.5+27.5+26.1HOLD
Other utilities6,983.29+68.4+62.4+61.0HOLD
Banks4,370.26+52.7+14.9-22.5HOLD
Insurance1,872.29+50.2+24.5+3.0HOLD
Life assurance5,197.30+112.1+84.0+54.4HOLD
Investment companies6,120.09+17.5+4.6-6.1HOLD
Other finance4,615.29+18.3-10.6-38.0HOLD
IT hardware1,181.69+80.2+51.6+26.1HOLD
Software & comp services1,032.06+121.6+110.2+103.3HOLD
*Average index for December 2012. †IC/Coppock indicator. ††Unofficial signal. BUY/SELL = self explanatory; WAIT = you sold at the last sell signal and are now waiting for the next buy signal; HOLD = you bought at the last buy signal and are now awaiting the next sell signal.

Summary table of IC/Coppock indicators - Emerging & other markets worldwide

Market/indexDecember avg indexDecember indicator*November indicator*October indicator*Signal†
Argentina9,185.96-55.6-78.1-89.5HOLD
FTSE Aim692.28-41.9-54.5-66.8HOLD
Brazil59,783.71+6.5+0.6-2.5HOLD
China2,328.19-79.7-93.9-95.1HOLD
Greece860.88-64.8-128.3-182.4HOLD
India5,944.21+35.6+12.9+0.6HOLD
Indonesia4,294.51+61.0+57.2+51.2HOLD
Israel1,072.69+7.7-6.8-24.3HOLD
Mexico13,628.32+66.5+50.8+37.2HOLD
Philippines5,764.95+143.4+133.8+127.9HOLD
Poland46,836.53+23.3-6.6-27.3HOLD
Portugal5,562.06-81.4-108.0-130.9HOLD
Russia16,326.26-62.8-72.4-76.4HOLD
South Korea1,973.84+5.0-3.1-9.0HOLD
Spain812.06-80.2-97.7-115.0HOLD
Switzerland6,895.89+74.6+61.4+44.4HOLD
Thailand1,362.37+134.1+120.1+102.9HOLD
Turkey76,919.81+107.3+66.5+34.0HOLD
Venezuela448,621.90+1,252.4+1,162.2+1,103.7HOLD
*Average index for December 2012. †IC/Coppock indicator. ††Unofficial signal. BUY/SELL = self-explanatory; WAIT = you sold at the last sell signal and are now waiting for the next buy signal; HOLD = you bought at the last buy signal and are now awaiting the next sell signal.

Read previous Coppock indicators here...