The FTSE All-Share and the German DAX indices were two markets that missed out on producing buy signals in July by the narrowest of margins. The June indicator for the FTSE All-Share index was -27.19 and for July it was -27.20; the Dax was -53.11 and -53.12.
| IC/Coppock Indicator signals for July | Insurance |
| BUYS | Life assurance |
| Australia All ordinaries | Media and entertainment |
| France CAC 40 | Software* |
| FT 30 | Telecommunications |
| FTSE 100 | SELLS |
| FTSE techMARK* | China |
| Greece | Nasdaq 100 |
| Hong Kong | South Africa Gold |
| Poland | Tokyo New Stock Exchange |
| Singapore | Transport* |
| Health | *Unofficial signal |
It is amazing how nervous the markets are and it only takes just one man's comments to make such a difference to the performance of the world’s bourses - especially when that man's name happens to be Mario Draghi, president of the European Central Bank. Investors liked Mr Draghi's statement about doing whatever it takes to save the euro but his latest comments about drawing up a mechanism in the coming weeks disappointed them and the markets plunged like lead balloons on the second day in August. It isn't that surprising, therefore, to discover that the IC/Coppock Indicators for the Nasdaq 100, along with those for China, South Africa Gold and Tokyo are whipsawing around at the moment.
Summary table of IC/Coppock indicators - major markets worldwide:
| Index/market | July average index | July indicator* | June indicator* | May indicator* | Signal† |
|---|---|---|---|---|---|
| UK Govt. Secs | 175.82 | +58.9 | +56.9 | +54.4 | HOLD |
| FT 30 | 1,952.99 | -66.2 | -69.0 | -68.4 | BUY |
| FTSE 100 | 5,636.46 | -25.5 | -25.6 | -24.4 | BUY |
| FTSE All-Share | 2,924.91 | -27.2 | -27.2 | -25.5 | WAIT |
| FT Gold Mines | 2,681.07 | -95.9 | -76.1 | -63.7 | WAIT |
| Amsterdam | 499.51 | -62.6 | -69.7 | -70.9 | HOLD |
| ASX All Ord | 4,181.70 | -59.4 | -61.2 | -61.0 | BUY |
| S&P/ASX 200 Energy | 11,921.85 | -95.2 | -91.3 | -86.6 | WAIT |
| Belgium S.E. | 8,347.76 | -41.4 | -58.8 | -63.4 | HOLD |
| Dax (Germany) | 6,549.64 | -53.1 | -53.1 | -48.6 | WAIT |
| Dow Jones | 12,814.10 | +23.5 | +26.1 | +28.0 | WAIT |
| Rep of Ireland (ISEQ) | 3,175.28 | +34.6 | +27.6 | +23.6 | HOLD |
| France CAC 40 | 3,199.55 | -100.3 | -102.7 | -99.6 | BUY |
| Hang Seng | 19,372.26 | -78.1 | -80.5 | -79.6 | BUY |
| Italy BCI | 746.20 | -145.1 | -144.9 | -138.5 | WAIT |
| S. Africa Gold | 2,295.53 | -10.6 | +0.3 | -0.2 | SELL |
| S. Africa Industrial | 33,562.10 | +78.3 | +67.7 | +54.5 | HOLD |
| Straits Times | 2,987.49 | -41.1 | -46.0 | -45.9 | BUY |
| Tokyo New S.E. | 746.00 | -61.0 | -59.1 | -59.4 | SELL |
| Toronto Comp | 11,626.90 | -63.8 | -60.3 | -55.1 | WAIT |
| Toronto Gold | 2,368.25 | -97.2 | -78.5 | -68.9 | WAIT |
| Sweden OMX | 1,035.69 | -47.8 | -53.2 | -53.7 | HOLD |
| FTSE techMARK 100 | 2,283.04 | +16.6 | +15.9 | +18.9 | BUY†† |
| Nasdaq 100 | 2,605.68 | +60.3 | +61.4 | +59.4 | SELL |
| *Average index for July 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:
| Sector | July avg index | July indicator* | June indicator* | May indicator* | Signal† |
|---|---|---|---|---|---|
| Mining | 16,768.12 | -139.4 | -127.9 | -116.7 | WAIT |
| Oil & gas | 8,166.13 | -13.8 | -8.5 | -2.1 | WAIT |
| Chemicals | 8,645.73 | +55.1 | +60.9 | +62.2 | WAIT |
| Constr & Bldg mats | 3,397.72 | -82.7 | -81.5 | -74.9 | WAIT |
| Forestry & paper | 6,530.15 | -37.0 | -30.1 | -21.2 | WAIT |
| Steel & other metals | 2,959.23 | -288.2 | -269.3 | -248.7 | WAIT |
| Aerospace & defence | 3,908.25 | +43.0 | +32.0 | +22.7 | HOLD |
| Diversified industrls | 2,526.45 | -25.7 | -29.6 | -30.5 | HOLD |
| Electronic & electr eqpt | 3,863.89 | +13.4 | +27.4 | +41.9 | WAIT |
| Eng'g & machinery | 7,082.92 | +13.2 | +30.9 | +47.3 | WAIT |
| Automobiles & parts | 4,874.46 | -39.7 | -29.7 | -10.3 | WAIT |
| H'hold goods textiles | 1,793.91 | -114.1 | -89.2 | -70.0 | WAIT |
| Beverages | 12,279.81 | +104.8 | +97.0 | +92.2 | HOLD |
| Food producers | 5,802.70 | +43.0 | +43.3 | +48.6 | WAIT |
| Health | 3,726.71 | -37.2 | -41.4 | -40.5 | BUY |
| Personal care | 16,741.32 | +15.4 | +44.8 | +63.8 | WAIT |
| Pharmaceuticals | 9,801.36 | +34.8 | +38.9 | +42.4 | WAIT |
| Tobacco | 38,099.27 | +117.8 | +120.2 | +124.7 | WAIT |
| General retailers | 1,618.20 | -16.4 | -20.7 | -21.9 | HOLD |
| Leisure & hotels | 4,498.70 | -25.3 | -35.5 | -42.6 | HOLD |
| Media ent't | 4,371.78 | -7.6 | -12.3 | -9.9 | BUY |
| Support services | 4,610.45 | +17.0 | +15.3 | +17.0 | BUY |
| Transport | 2,874.05 | -59.3 | -56.7 | -56.8 | SELL†† |
| Food & drug rtlrs | 4,049.77 | -82.5 | -79.4 | -71.4 | WAIT |
| Telecommns svs | 2,597.41 | +19.7 | +14.4 | +17.8 | BUY†† |
| Electricity | 8,656.70 | +27.5 | +37.0 | +47.0 | WAIT |
| Other utilities | 6,804.61 | +39.0 | +34.1 | +28.7 | HOLD |
| Banks | 3,527.77 | -113.9 | -122.5 | -131.8 | HOLD |
| Insurance | 1,708.69 | -60.8 | -64.1 | -60.9 | BUY |
| Life assurance | 4,290.48 | -29.3 | -33.5 | -30.9 | BUY |
| Investment cos | 5,744.45 | -39.5 | -36.8 | -31.3 | WAIT |
| Other finance | 4,074.03 | -104.1 | -103.4 | -100.5 | WAIT |
| IT hardware | 878.68 | -9.8 | +4.4 | +23.5 | WAIT |
| Software & comp svs | 951.43 | +54.0 | +47.4 | +48.3 | BUY†† |
| *Average index for July 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/index | July avg index | July indicator* | June indicator* | May indicator* | Signal† |
|---|---|---|---|---|---|
| Argentina | 8,732.56 | -128.7 | -124.2 | -113.8 | WAIT |
| FTSE Aim | 682.93 | -100.8 | -94.2 | -84.8 | WAIT |
| Brazil | 54,652.42 | -50.7 | -53.2 | -53.7 | HOLD |
| China | 2,407.63 | -105.9 | -102.7 | -105.0 | SELL†† |
| Greece | 612.78 | -293.6 | -295.9 | -290.1 | BUY |
| India | 5,234.81 | -52.9 | -56.7 | -59.5 | HOLD |
| Indonesia | 4,044.56 | +35.1 | +42.1 | +51.0 | WAIT |
| Israel | 980.09 | -76.2 | -76.8 | -79.7 | HOLD |
| Mexico | 12,277.65 | -11.7 | -18.8 | -19.0 | HOLD |
| Philippines | 5,251.59 | +103.4 | +99.0 | +93.5 | HOLD |
| Poland | 40,153.07 | -96.0 | -96.7 | -91.6 | BUY |
| Portugal | 4,746.08 | -178.1 | -175.7 | -166.0 | WAIT |
| Russia | 16,131.59 | -105.6 | -96.6 | -83.4 | WAIT |
| South Korea | 1,826.75 | -45.0 | -35.2 | -27.9 | WAIT |
| Spain | 670.79 | -158.5 | -150.4 | -138.7 | WAIT |
| Switzerland | 6,227.14 | -25.7 | -37.6 | -42.9 | HOLD |
| Thailand | 1,198.70 | +50.9 | +48.2 | +43.9 | HOLD |
| Turkey | 62,689.00 | -47.7 | -60.7 | -67.1 | HOLD |
| Venezuela | 247,295.70 | +916.3 | +847.9 | +749.2 | HOLD |
| *Average index for July 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. | |||||
