Two of our IC/Coppock Indicators for gold produced buy signals in October - they were for the Toronto Gold and the FTSE Gold Mines indices. These markets have responded well to positive data coming out of China which boosted the price of gold bullion along with commodity prices in general. Gold prices also received a lift from the third round of quantitative easing.
The third buy signal came from the FTSE All-Share Electricity sector index. That index is surging ahead and is currently on new highs - although it could be viewed as overpriced. Its dividend yield, however, is impressive and maybe the constituent companies will pass on some of their income received from putting up their electricity prices, to their shareholders.
The last signal came from the FTSE All-Share Food & Drug Retailers sector, which produced an unofficial sell. The chart for this sector is the antithesis to the electricity graph because it has been falling. That's not surprising given that Tesco, which has endured a rough time as of late, dominates that particular index.
Summary table of IC/Coppock indicators - major markets worldwide:
Index/market | October average index | October indicator* | September indicator* | August indicator* | Signal† |
---|---|---|---|---|---|
UK Govt. Secs | 172.6 | +43.6 | +50.4 | +56.3 | WAIT |
FT 30 | 2,083.1 | -0.8 | -20.2 | -44.7 | HOLD |
FTSE 100 | 5,831.8 | +12.6 | +3.3 | -10.9 | HOLD |
FTSE All-Share | 3,046.3 | +13.8 | +2.9 | -12.3 | HOLD |
FT Gold Mines | 3,213.2 | -107.5 | -113.4 | -109.5 | BUY |
Amsterdam | 514.7 | +8.4 | -8.4 | -36.8 | HOLD |
ASX All Ord | 4,514.7 | -16.9 | -31.7 | -47.1 | HOLD |
S&P/ASX 200 Energy | 12,683.5 | -61.2 | -70.5 | -85.7 | HOLD |
Belgium S.E. | 8,774.8 | +35.1 | +12.5 | -15.3 | HOLD |
Dax (Germany) | 7,288.2 | +42.6 | +16.0 | -25.9 | HOLD |
Dow Jones | 13,356.9 | +57.4 | +48.8 | +34.7 | HOLD |
Rep of Ireland (ISEQ) | 3,259.0 | +96.2 | +82.0 | +57.1 | HOLD |
France CAC 40 | 3,435.7 | -21.2 | -42.3 | -75.1 | HOLD |
Hang Seng | 21,293.3 | -17.6 | -44.5 | -64.5 | HOLD |
Italy BCI | 841.1 | -72.3 | -92.0 | -124.4 | HOLD |
S. Africa Gold | 2,381.5 | -51.7 | -39.1 | -21.7 | WAIT |
S. Africa Industrial | 3,4905.1 | +131.3 | +118.6 | +100.5 | HOLD |
Straits Times | 3,055.0 | +8.4 | -8.8 | -26.0 | HOLD |
Tokyo New S.E. | 736.2 | -35.0 | -43.2 | -53.0 | HOLD |
Toronto Comp | 12,337.6 | -32.9 | -45.8 | -57.2 | HOLD |
Toronto Gold | 2,842.5 | -112.6 | -117.8 | -112.1 | BUY |
Sweden OMX | 1,068.5 | +19.2 | +3.1 | -23.8 | HOLD |
FTSE techMARK 100 | 2,415.8 | +64.9 | +50.9 | +35.9 | HOLD |
Nasdaq 100 | 2,735.9 | +97.1 | +91.6 | +76.3 | HOLD |
*Average index for October 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 | October average index | October indicator* | September indicator* | August indicator* | Signal† |
---|---|---|---|---|---|
Mining | 17,866.9 | -102.0 | -118.1 | -131.6 | HOLD |
Oil & Gas | 8,126.9 | +5.9 | +5.6 | -3.1 | HOLD |
Chemicals | 9,211.4 | +120.9 | +104.9 | +74.6 | HOLD |
Constr & Bldg mats | 3,393.7 | -35.9 | -49.5 | -68.7 | HOLD |
Forestry & paper | 7,709.6 | +36.1 | -1.8 | -23.5 | HOLD |
Steel & other metals | 2,994.1 | -277.0 | -288.4 | -291.9 | HOLD |
Aerospace & defence | 4,009.6 | +98.4 | +86.8 | +66.9 | HOLD |
Diversified industrls | 2,661.5 | +50.7 | +24.2 | -3.7 | HOLD |
Electronic & electr eqpt | 4,043.8 | +67.4 | +45.8 | +24.6 | HOLD |
Eng'g & machinery | 7,816.7 | +44.1 | +32.6 | +20.5 | HOLD |
Automobiles & parts | 5,015.1 | +17.4 | +1.9 | -23.0 | HOLD |
H'hold goods textiles | 2,344.2 | -108.3 | -120.3 | -121.8 | HOLD |
Beverages | 12,751.6 | +147.5 | +140.5 | +126.9 | HOLD |
Food producers | 6,134.6 | +58.1 | +54.2 | +49.5 | HOLD |
Health | 3,800.6 | +22.7 | +4.1 | -15.2 | HOLD |
Personal care | 15,333.8 | -25.0 | -12.9 | +7.6 | WAIT |
Pharmaceuticals | 9,621.5 | +31.2 | +38.0 | +39.3 | WAIT |
Tobacco | 36,000.9 | +101.9 | +112.9 | +120.0 | WAIT |
General retailers | 1,836.2 | +48.3 | +28.9 | +7.2 | HOLD |
Leisure & hotels | 4,836.3 | +52.4 | +30.1 | +2.6 | HOLD |
Media ent't | 4,676.3 | +55.4 | +39.4 | +16.7 | HOLD |
Support services | 5,049.8 | +79.4 | +60.6 | +38.0 | HOLD |
Transport | 3,164.8 | -6.6 | -26.9 | -47.0 | HOLD |
Food & drug rtlrs | 4,111.4 | -66.4 | -65.6 | -75.6 | SELL |
Telecommns svs | 2,655.5 | +82.2 | +66.6 | +39.7 | HOLD |
Electricity | 8,909.6 | +26.1 | +24.6 | +25.1 | BUY |
Other utilities | 7,009.0 | +61.0 | +57.0 | +49.8 | HOLD |
Banks | 4,030.4 | -22.5 | -54.1 | -88.4 | HOLD |
Insurance | 1,815.3 | +3.0 | -16.8 | -41.5 | HOLD |
Life assurance | 4,806.1 | +54.4 | +30.2 | -3.1 | HOLD |
Investment cos | 6,012.6 | -6.1 | -18.9 | -30.7 | HOLD |
Other finance | 4,513.3 | -38.0 | -64.7 | -86.5 | HOLD |
IT hardware | 1,021.1 | +26.1 | +13.8 | +6.9 | HOLD |
Software & comp svs | 999.8 | +103.3 | +92.7 | +78.2 | HOLD |
*Average index for October 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 | October avg index | October indicator* | September indicator* | August indicator* | Signal† |
---|---|---|---|---|---|
Argentina | 8,393.4 | -89.5 | -104.3 | -120.0 | HOLD |
FTSE Aim | 705.3 | -66.8 | -83.3 | -94.4 | HOLD |
Brazil | 58,616.0 | -2.5 | -15.2 | -31.4 | HOLD |
China | 2,295.3 | -95.1 | -102.3 | -105.2 | HOLD |
Greece | 831.9 | -182.4 | -240.1 | -277.6 | HOLD |
India | 5,697.7 | +0.6 | -21.8 | -37.9 | HOLD |
Indonesia | 4,309.7 | +51.2 | +39.3 | +33.4 | HOLD |
Israel | 1,075.3 | -24.3 | -43.2 | -62.8 | HOLD |
Mexico | 12,930.5 | +37.2 | +16.5 | +1.5 | HOLD |
Philippines | 5,401.9 | +127.9 | +116.0 | +108.0 | HOLD |
Poland | 43,884.8 | -27.3 | -50.7 | -77.6 | HOLD |
Portugal | 5,374.5 | -130.9 | -150.4 | -168.9 | HOLD |
Russia | 16,527.0 | -76.4 | -89.8 | -100.5 | HOLD |
South Korea | 1,942.2 | -9.0 | -20.1 | -35.7 | HOLD |
Spain | 788.6 | -115.0 | -127.3 | -148.8 | HOLD |
Switzerland | 6,661.7 | +44.4 | +27.5 | +4.0 | HOLD |
Thailand | 1,298.4 | +102.9 | +74.6 | +57.9 | HOLD |
Turkey | 69,365.4 | +34.0 | +9.3 | -16.5 | HOLD |
Venezuela | 362,533.1 | +1,103.7 | +1,010.3 | +961.6 | HOLD |
*Average index for October 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. |