However, three markets - Ireland, South African Industrials and Brazil - did succumb and produced sell signals.
All of the BRIC countries' indices took a pounding in February but it was only Brazil that produced a sell signal following the release of bad economic data. The Republic of Ireland was wary of the Italian election outcome and its affect on the euro, while South Africa Industrials ran out of steam with its index falling 1.86 per cent over the last month.
The FTSE All-Share chemicals sector also produced a sell signal in February while pharmaceuticals gave a buy.
Summary table of IC/Coppock indicators - major markets worldwide:
| Index/market | February average index | February indicator* | January indicator* | December indicator* | Signal† |
|---|---|---|---|---|---|
| UK Government Securities | 167.85 | +10.6 | +17.9 | +27.0 | WAIT |
| FT 30 | 2,382.40 | +75.0 | +60.6 | +41.1 | HOLD |
| FTSE 100 | 6,316.35 | +36.9 | +32.7 | +26.7 | HOLD |
| FTSE All-Share | 3,321.63 | +44.2 | +38.8 | +31.2 | HOLD |
| FT Gold Mines | 2,511.12 | -122.8 | -114.3 | -113.4 | WAIT |
| Amsterdam | 532.88 | +46.7 | +45.6 | +37.7 | HOLD |
| ASX All Ord | 5,018.00 | +38.1 | +22.2 | +7.2 | HOLD |
| S&P/ASX 200 Energy | 13,183.20 | -42.2 | -47.0 | -54.3 | HOLD |
| Belgium S.E. | 8,883.97 | +89.9 | +85.2 | +74.6 | HOLD |
| Dax (Germany) | 7,666.71 | +105.9 | +104.0 | +89.3 | HOLD |
| Dow Jones | 13,967.33 | +57.1 | +57.8 | +58.4 | WAIT |
| Rep of Ireland (ISEQ) | 3,641.55 | +112.0 | +113.6 | +112.6 | SELL |
| France CAC 40 | 3,679.44 | +50.3 | +42.9 | +25.4 | HOLD |
| Hang Seng | 23,148.33 | +58.5 | +50.8 | +29.1 | HOLD |
| Italy BCI | 885.27 | +2.9 | -6.9 | -31.2 | HOLD |
| S. Africa Gold | 2,104.30 | -108.8 | -97.1 | -86.6 | WAIT |
| S. Africa Industrial | 38,987.73 | +149.9 | +150.3 | +145.0 | SELL |
| Straits Times | 3,282.61 | +54.9 | +48.5 | +35.2 | HOLD |
| Tokyo New S.E. | 961.02 | +39.4 | +18.1 | -6.4 | HOLD |
| Toronto Comp | 12,737.00 | +1.1 | -4.8 | -13.3 | HOLD |
| Toronto Gold | 2,240.86 | -123.5 | -117.0 | -116.6 | WAIT |
| Sweden OMX | 1,183.77 | +57.5 | +53.2 | +45.0 | HOLD |
| FTSE techMARK 100 | 2,711.87 | +103.3 | +97.1 | +88.2 | HOLD |
| Nasdaq 100 | 2,748.19 | +84.4 | +93.8 | +96.8 | WAIT |
| *Average index for February 2013. †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 | February average index | February indicator* | January indicator* | December indicator* | Signal† |
|---|---|---|---|---|---|
| Mining | 19,439.36 | -59.8 | -64.9 | -75.1 | HOLD |
| Oil & gas | 8,014.52 | -21.6 | -14.5 | -8.2 | WAIT |
| Chemicals | 9,893.55 | +139.5 | +149.2 | +147.5 | SELL |
| Construction & building materials | 3,865.75 | +11.4 | +0.1 | -11.3 | HOLD |
| Forestry & paper | 9,555.62 | +182.1 | +151.3 | +118.5 | HOLD |
| Steel & other metals | 3,285.14 | -231.3 | -240.0 | -253.1 | HOLD |
| Aerospace & defence | 4,416.75 | +111.3 | +110.6 | +109.1 | HOLD |
| Diversified industrials | 3,020.86 | +119.7 | +111.9 | +96.7 | HOLD |
| Electronic & electrical equipment | 4,900.43 | +129.5 | +123.8 | +108.5 | HOLD |
| Engingeering & machinery | 9,185.13 | +70.0 | +64.2 | +57.2 | HOLD |
| Automobiles & parts | 6,022.79 | +75.1 | +66.7 | +53.1 | HOLD |
| Household goods & textiles | 3,580.44 | +32.1 | -35.9 | -71.9 | HOLD |
| Beverages | 14,365.46 | +162.3 | +162.1 | +161.1 | HOLD |
| Food producers | 7,053.61 | +94.7 | +79.7 | +70.3 | HOLD |
| Healthcare | 4,069.70 | +70.5 | +64.2 | +51.6 | HOLD |
| Personal care | 18,960.92 | -11.6 | -15.1 | -21.8 | HOLD |
| Pharmaceuticals | 9,965.39 | +7.6 | +7.5 | +13.5 | BUY |
| Tobacco | 37,429.02 | +56.0 | +66.1 | +77.1 | WAIT |
| General retailers | 1,993.97 | +124.9 | +115.8 | +95.8 | HOLD |
| Leisure & hotels | 5,692.25 | +132.5 | +115.2 | +96.9 | HOLD |
| Media & entertainment | 5,298.09 | +102.6 | +92.6 | +81.0 | HOLD |
| Support services | 5,449.96 | +118.2 | +115.7 | +108.6 | HOLD |
| Transport | 3,384.93 | +56.2 | +46.8 | +32.2 | HOLD |
| Food & drug retailers | 4,517.99 | -27.5 | -49.5 | -63.3 | HOLD |
| Telecommunication services | 3,228.63 | +133.0 | +119.2 | +108.9 | HOLD |
| Electricity | 9,039.62 | +48.8 | +41.8 | +34.5 | HOLD |
| Other utilities | 7,096.85 | +73.8 | +71.9 | +68.4 | HOLD |
| Banks | 4,957.83 | +107.6 | +86.6 | +52.7 | HOLD |
| Insurance | 1,978.65 | +86.7 | +71.4 | +50.2 | HOLD |
| Life assurance | 5,460.30 | +137.6 | +130.5 | +112.1 | HOLD |
| Investment companies | 6,636.76 | +40.9 | +30.8 | +17.5 | HOLD |
| Other finance | 5,457.05 | +77.4 | +51.8 | +18.3 | HOLD |
| Technology hardware & equipment | 1,424.65 | +149.3 | +110.9 | +80.2 | HOLD |
| Software & computer services | 1,138.77 | +137.2 | +130.0 | +121.6 | HOLD |
| *Average index for February 2013. †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 | February average index | February indicator* | January indicator* | December indicator* | Signal† |
|---|---|---|---|---|---|
| Argentina | 11,464.32 | +4.3 | -26.8 | -55.6 | HOLD |
| FTSE Aim | 745.65 | -29.5 | -32.1 | -41.9 | HOLD |
| Brazil | 57,939.87 | -1.8 | +8.9 | +6.5 | SELL |
| China | 2,689.59 | -37.0 | -56.0 | -79.7 | HOLD |
| Greece | 1,016.11 | +50.9 | +4.6 | -64.8 | HOLD |
| India | 5,933.07 | +68.1 | +63.3 | +35.6 | HOLD |
| Indonesia | 4,588.50 | +69.4 | +63.3 | +61.0 | HOLD |
| Israel | 1,084.97 | +25.1 | +16.1 | +7.7 | HOLD |
| Mexico | 13,870.12 | +86.7 | +81.3 | +66.5 | HOLD |
| Philippines | 6,545.64 | +161.7 | +150.8 | +143.4 | HOLD |
| Poland | 46,356.38 | +59.7 | +48.9 | +23.3 | HOLD |
| Portugal | 6,130.87 | -21.6 | -48.6 | -81.4 | HOLD |
| Russia | 16,835.20 | -51.1 | -53.6 | -62.8 | HOLD |
| South Korea | 1,979.85 | +11.7 | +11.7 | +5.0 | HOLD |
| Spain | 825.64 | -46.6 | -58.3 | -80.2 | HOLD |
| Switzerland | 7,476.98 | +96.8 | +86.0 | +74.6 | HOLD |
| Thailand | 1,516.32 | +163.6 | +150.2 | +134.1 | HOLD |
| Turkey | 78,350.38 | +164.7 | +150.7 | +107.3 | HOLD |
| Venezuela | 585,782.70 | +1,451.6 | +1,342.5 | +1,252.4 | HOLD |
| *Average index for February 2013. †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. | |||||
