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- Stable doors and horses
Stable doors and horses
- Created:
- 6 July 2009
- Written by:
- Robert Ansted
The majority of the world stock markets for which we calculate IC/Coppock indicators have now given "Buy" signals. This now only leaves the Australian energy and Toronto Composite indicators still waiting to turn.
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The UK indicators, along with the one for the Dow Jones, were among the latest stock market indices producing "BUY" signals in June. Thankfully, the IC/Coppock indicator is a long-term buying guide, otherwise it might look as though these latest signals were a little like shutting the stable doors after the horse had bolted.
The UK and the US stock markets suffered a setback as bad news concerning the US unemployment data hit the headlines just before the Independence Day holiday. Both of these markets fell overall during June and the grim reapers among us believe they both have further to fall. That said, these new signals given within major global markets are encouraging news to would-be investors.
Summary table of IC/Coppock indicators - major markets worldwide:
| Index/market | Average index | Indicators | Signal | ||
|---|---|---|---|---|---|
| June* | June † | May † | April † | ||
| UK Govt. Secs | 152.43 | 28.3 | 25.2 | 23.0 | HOLD |
| FT 30 | 1,545.03 | -223.0 | -227.5 | -227.4 | BUY |
| FTSE 100 | 4,349.24 | -165.6 | -169.5 | -168.1 | BUY |
| FTSE All-Share | 2,220.39 | -168.4 | -173.4 | -173.2 | BUY |
| FT Gold Mines | 2,691.25 | -121.4 | -139.0 | -148.6 | HOLD |
| Amsterdam | 410.25 | -254.5 | -255.7 | -251.0 | BUY |
| ASX All Ord | 3,931.80 | -199.4 | -205.9 | -204.7 | BUY |
| S&P/ASX 200 Energy | 14,690.77 | -99.2 | -85.0 | -69.8 | WAIT |
| Belgium S.E. | 18,349.21 | -249.9 | -253.9 | -252.1 | BUY |
| Dax (Germany) | 4,930.82 | -187.7 | -194.2 | -195.4 | HOLD |
| Dow Jones | 8,593.00 | -190.4 | -193.5 | -189.2 | BUY |
| Rep of Ireland (ISEQ) | 2,819.13 | -330.0 | -340.8 | -342.1 | HOLD |
| France CAC 40 | 3,242.85 | -205.9 | -211.8 | -212.1 | HOLD |
| Hang Seng | 18,342.45 | -207.4 | -224.5 | -227.5 | HOLD |
| Italy BCI | 975.95 | -238.4 | -246.3 | -249.6 | HOLD |
| S. Africa Gold | 2,484.16 | -6.5 | -27.4 | -44.5 | HOLD |
| S. Africa Industrial | 20,778.62 | -146.8 | -152.5 | -150.9 | BUY |
| Straits Times | 2,325.53 | -211.8 | -228.2 | -236.1 | HOLD |
| Tokyo New S.E. | 921.57 | -208.3 | -212.2 | -212.6 | HOLD |
| Toronto Comp | 10,372.29 | -181.8 | -180.8 | -175.3 | WAIT |
| Toronto Gold | 2,634.57 | -67.2 | -73.5 | -77.8 | HOLD |
| Sweden OMX | 782.04 | -154.8 | -171.2 | -182.1 | HOLD |
| FTSE techMARK 100 | 1,338.05 | -103.7 | -110.5 | -116.1 | HOLD |
| Nasdaq 100 | 1,472.16 | -174.6 | -180.3 | -178.3 | BUY |
| *Average index for June 2009. †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. | |||||
Five "BUY" signals were given for June within the sectors for the FTSE All-Share Index. According to Nationwide house prices went up in June and it is interesting to see the property sector amongst the five IC/Coppock "BUY" signals.
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:
| Index/market | Average index | Indicators | Signal | ||
|---|---|---|---|---|---|
| June* | June † | May † | April † | ||
| Mining | 14,184.16 | -282.2 | -279.2 | -265.9 | WAIT |
| Oil & Gas | 7,143.70 | -85.8 | -82.6 | -74.4 | WAIT |
| Chemicals | 3,452.35 | -205.6 | -202.5 | -195.0 | WAIT |
| Constr & Bldg mats | 3,415.62 | -193.3 | -207.1 | -219.5 | HOLD |
| Forestry & paper | 2,489.61 | -285.0 | -301.5 | -300.4 | BUY |
| Steel & other metals | 5,276.41 | -346.8 | -341.3 | -302.8 | WAIT |
| Aerospace & defence | 2,556.15 | -136.0 | -138.6 | -137.3 | BUY |
| Diversified industrls | 1,329.05 | -188.2 | -185.5 | -182.5 | WAIT |
| Electronic & electr eqpt | 1,362.37 | -240.2 | -232.5 | -222.7 | WAIT |
| Eng'g & machinery | 2,772.28 | -175.4 | -171.5 | -167.7 | WAIT |
| Automobiles & parts | 2,050.20 | -346.5 | -357.4 | -358.5 | HOLD |
| H'hold goods textiles | 1,247.21 | -203.7 | -231.3 | -252.6 | HOLD |
| Beverages | 6,146.50 | -68.9 | -77.1 | -80.2 | HOLD |
| Food producers | 3,657.43 | -108.1 | -116.3 | -115.9 | BUY |
| Health | 2,684.07 | -185.2 | -186.0 | -186.0 | BUY |
| Personal care | 6,096.17 | -123.2 | -139.7 | -151.5 | HOLD |
| Pharmaceuticals | 7,402.63 | 16.1 | 10.9 | 9.4 | HOLD |
| Tobacco | 20,511.82 | -81.9 | -80.5 | -70.3 | WAIT |
| General retailers | 1,399.63 | -141.7 | -175.7 | -202.8 | HOLD |
| Leisure & hotels | 3,272.57 | -180.3 | -193.4 | -207.0 | HOLD |
| Media ent't | 2,661.14 | -150.5 | -161.0 | -171.9 | HOLD |
| Support services | 2,878.64 | -145.4 | -156.8 | -166.8 | HOLD |
| Transport | 2,308.57 | -247.8 | -262.4 | -267.7 | HOLD |
| Food & drug rtlrs | 4,247.20 | -88.8 | -100.5 | -104.3 | HOLD |
| Telecommns svs | 1,509.84 | -265.4 | -266.4 | -262.8 | BUY |
| Electricity | 6,236.50 | -98.7 | -88.1 | -77.9 | WAIT |
| Other utilities | 4,720.25 | -102.5 | -97.6 | -94.7 | WAIT |
| Banks | 3,802.20 | -302.7 | -312.3 | -315.8 | HOLD |
| Insurance | 1,355.50 | 11.8 | 8.7 | 4.0 | HOLD |
| Life assurance | 3,010.59 | -246.4 | -255.1 | -257.0 | HOLD |
| Investment cos | 4,299.91 | -174.5 | -179.2 | -179.6 | HOLD |
| Real estate | 1,574.59 | -294.2 | -296.4 | -292.9 | BUY |
| Other finance | 3,699.67 | -255.4 | -263.1 | -263.7 | HOLD |
| IT hardware | 324.05 | -64.0 | -103.0 | -140.0 | HOLD |
| Software & comp svs | 519.95 | -74.4 | -91.8 | -106.9 | HOLD |
| *Average index for June 2009. † 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. | |||||
All of the stock markets within our emerging and other stock m.arket tables have now turned. Brazil, Russia, Spain and Mexico all followed the other markets and produced "BUY" signals in June.
Summary table of IC/Coppock indicators - Emerging markets worldwide:
| Index/market | Average index | Indicators | Signal | ||
|---|---|---|---|---|---|
| June* | June † | May † | April † | ||
| Argentina | 5,513.23 | -235.3 | -246.1 | -249.4 | HOLD |
| FTSE Aim | 532.75 | -300.2 | -306.6 | -307.3 | HOLD |
| Brazil | 52,060.43 | -173.1 | -179.5 | -176.6 | BUY |
| China | 3,012.63 | -207.4 | -255.8 | -279.9 | HOLD |
| Greece | 2,282.08 | -294.3 | -308.1 | -312.9 | HOLD |
| India | 7,711.13 | -190.4 | -225.0 | -235.2 | HOLD |
| Indonesia | 2,029.80 | -195.3 | -217.2 | -227.4 | HOLD |
| Israel | 801.79 | -185.0 | -192.8 | -201.9 | HOLD |
| Mexico | 7,659.99 | -226.9 | -233.3 | -232.1 | BUY |
| Philippines | 2,477.56 | -159.9 | -189.1 | -206.0 | HOLD |
| Poland | 31,019.55 | -237.0 | -253.3 | -261.5 | HOLD |
| Portugal | 7,085.92 | -219.7 | -233.4 | -241.3 | HOLD |
| Russia | 13,225.30 | -301.7 | -306.5 | -305.7 | BUY |
| South Korea | 1,395.24 | -160.9 | -171.1 | -177.5 | HOLD |
| Spain | 990.77 | -204.7 | -213.6 | -213.2 | BUY |
| Switzerland | 5,399.91 | -168.8 | -173.4 | -174.0 | HOLD |
| Thailand | 595.26 | -221.8 | -237.6 | -239.3 | HOLD |
| Turkey | 35,244.30 | -180.0 | -210.3 | -231.1 | HOLD |
| Venezuela | 43,348.53 | 50.7 | 34.5 | 13.8 | HOLD |
| *Average index for June 2009. † 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...
ABOUT THE IC/COPPOCK INDICATOR
The IC/Coppock indicator identifies long-term buying opportunities. It is based on a mechanical system known as the 'long-term buying guide', which was devised by Edwin Coppock of Texas. This buying guide was then revised by Investors Chronicle in 1963 - so it differs from the original system, which is still used by our columnist, The Trader.
Mr Coppock only used his indicator as a buying guide, but we also show the sell signals in our table (above), just for interest. However, caution must be exercised when viewing these sell signals because they do not always indicate the start of a bear market. Sell signals do indicate a downward movement in the particular index, but this may well be a mere dip in a continuing bull market.
In the table, you will see the latest indicator, followed by the figures for the previous two months. These indicators can rise and fall, and be positive or negative figures. So when an indicator is in its negative phase, and then begins to rise after a falling trend, this is a buy signal [eg -5.1 (Jan), -28.3 (Dec), -27 (Nov)]. When the indicator is in a positive rising phase, and begins to fall, this is a sell signal [eg +120.9 (Jan), +132.5 (Dec), +128 (Nov)].
Unofficial buy signals occur when the indicator begins to rise, but is not in the negative phase. These may give investors an extra opportunity to purchase shares. Conversely, unofficial sells are given when the indicator begins to fall while in the negative phase.
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