For once the Dow Jones indicator, which gave a sell signal back in January, turned tail and decided to follow the rest of the world – instead of the other way around.
The other two markets that did catch a cold from the Dow's sneezes, the Republic of Ireland and the South Africa Industrials, also did a volte-face and their indicators turned up in March.
The only other indicators that produced signals in March were South Korea and Russia which went against the tide of the world bourses, both giving a sell. Companies within the KOSPI index had a negative performance as the index itself fell 2.25 per cent on the month. The Russian indicator was unofficial because it turned while it was still in the negative field.
Summary table of IC/Coppock indicators – major markets worldwide:
| Index/market | March average index | March indicator* | February indicator* | January indicator* | Signal† |
|---|---|---|---|---|---|
| UK Govt. Secs | 169.20 | +6.6 | +10.6 | +17.9 | WAIT |
| FT 30 | 2,460.98 | +87.5 | +75.0 | +60.6 | HOLD |
| FTSE 100 | 6,435.58 | +42.3 | +36.9 | +32.7 | HOLD |
| FTSE All-Share | 3,392.14 | +50.4 | +44.2 | +38.8 | HOLD |
| FT Gold Mines | 2,330.47 | -129.5 | -122.8 | -114.3 | WAIT |
| Amsterdam | 540.75 | +46.8 | +46.7 | +45.6 | HOLD |
| ASX All Ord | 5,055.00 | +51.9 | +38.1 | +22.2 | HOLD |
| S&P/ASX 200 Energy | 13,393.16 | -37.6 | -42.2 | -47.0 | HOLD |
| Belgium S.E. | 9,194.24 | +91.7 | +89.9 | +85.2 | HOLD |
| Dax (Germany) | 7,913.88 | +106.6 | +105.9 | +104.0 | HOLD |
| Dow Jones | 14,418.26 | +57.9 | +57.1 | +57.8 | BUY†† |
| Rep of Ireland (ISEQ) | 3,883.38 | +112.8 | +112.0 | +113.6 | BUY†† |
| France CAC 40 | 3,786.40 | +56.1 | +50.3 | +42.9 | HOLD |
| Hang Seng | 22,517.98 | +61.4 | +58.5 | +50.8 | HOLD |
| Italy BCI | 866.90 | +6.7 | +2.9 | -6.9 | HOLD |
| S. Africa Gold | 1,901.18 | -117.5 | -108.8 | -97.1 | WAIT |
| S. Africa Industrial | 40,806.92 | +149.9 | +149.9 | +150.3 | BUY†† |
| Straits Times | 3,278.25 | +58.8 | +54.9 | +48.5 | HOLD |
| Tokyo New S.E. | 1,028.22 | +59.0 | +39.4 | +18.1 | HOLD |
| Toronto Comp | 12,777.29 | +6.6 | +1.1 | -4.8 | HOLD |
| Toronto Gold | 2,122.26 | -127.5 | -123.5 | -117.0 | WAIT |
| Sweden OMX | 1,205.38 | +61.3 | +57.5 | +53.2 | HOLD |
| FTSE techMARK 100 | 2,790.12 | +108.0 | +103.3 | +97.1 | HOLD |
| Nasdaq 100 | 2,795.33 | +72.4 | +84.4 | +93.8 | WAIT |
| *Average index for March 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 | March average index | March indicator* | February indicator* | January indicator* | Signal† |
|---|---|---|---|---|---|
| Mining | 18,033.59 | -55.7 | -59.8 | -64.9 | HOLD |
| Oil & Gas | 8,090.19 | -26.4 | -21.6 | -14.5 | WAIT |
| Chemicals | 10,318.92 | +132.5 | +139.5 | +149.2 | WAIT |
| Constr & Bldg mats | 4,075.60 | +25.3 | +11.4 | +0.1 | HOLD |
| Forestry & paper | 10,327.82 | +207.8 | +182.1 | +151.3 | HOLD |
| Steel & other metals | 2,802.28 | -227.4 | -231.3 | -240.0 | HOLD |
| Aerospace & defence | 4,777.69 | +117.5 | +111.3 | +110.6 | HOLD |
| Diversified industrls | 3,157.91 | +124.4 | +119.7 | +111.9 | HOLD |
| Electronic & electr eqpt | 5,057.35 | +134.3 | +129.5 | +123.8 | HOLD |
| Eng'g & machinery | 9,903.81 | +83.5 | +70.0 | +64.2 | HOLD |
| Automobiles & parts | 6,450.34 | +95.7 | +75.1 | +66.7 | HOLD |
| H'hold goods textiles | 3,893.47 | +114.6 | +32.1 | -35.9 | HOLD |
| Beverages | 15,157.63 | +165.9 | +162.3 | +162.1 | HOLD |
| Food producers | 7,413.45 | +113.2 | +94.7 | +79.7 | HOLD |
| Health | 4,236.02 | +79.4 | +70.5 | +64.2 | HOLD |
| Personal care | 19,278.55 | -10.2 | -11.6 | -15.1 | HOLD |
| Pharmaceuticals | 10,234.93 | +11.6 | +7.6 | +7.5 | HOLD |
| Tobacco | 38,793.62 | +48.3 | +56.0 | +66.1 | WAIT |
| General retailers | 2,037.56 | +129.0 | +124.9 | +115.8 | HOLD |
| Leisure & hotels | 5,933.85 | +149.6 | +132.5 | +115.2 | HOLD |
| Media ent't | 5,504.63 | +111.7 | +102.6 | +92.6 | HOLD |
| Support services | 5,831.32 | +121.9 | +118.2 | +115.7 | HOLD |
| Transport | 3,583.39 | +63.6 | +56.2 | +46.8 | HOLD |
| Food & drug rtlrs | 4,683.14 | -6.2 | -27.5 | -49.5 | HOLD |
| Telecommns svs | 3,237.31 | +140.8 | +133.0 | +119.2 | HOLD |
| Electricity | 9,300.50 | +54.7 | +48.8 | +41.8 | HOLD |
| Other utilities | 7,343.70 | +75.6 | +73.8 | +71.9 | HOLD |
| Banks | 4,883.55 | +122.1 | +107.6 | +86.6 | HOLD |
| Insurance | 2,011.66 | +98.7 | +86.7 | +71.4 | HOLD |
| Life assurance | 5,812.64 | +146.7 | +137.6 | +130.5 | HOLD |
| Investment cos | 6,825.68 | +51.1 | +40.9 | +30.8 | HOLD |
| Other finance | 5,666.03 | +100.3 | +77.4 | +51.8 | HOLD |
| IT hardware | 1,427.46 | +178.3 | +149.3 | +110.9 | HOLD |
| Software & comp svs | 1,160.81 | +142.7 | +137.2 | +130.0 | HOLD |
| *Average index for March 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 | March average index | March indicator* | February indicator* | January indicator* | Signal† |
|---|---|---|---|---|---|
| Argentina | 11,957.81 | +39.4 | +4.3 | -26.8 | HOLD |
| FTSE Aim | 740.70 | -28.4 | -29.5 | -32.1 | HOLD |
| Brazil | 56,797.92 | -15.1 | -1.8 | +8.9 | WAIT |
| China | 2,580.28 | -26.9 | -37.0 | -56.0 | HOLD |
| Greece | 936.99 | +84.5 | +50.9 | +4.6 | HOLD |
| India | 5,789.33 | +69.5 | +68.1 | +63.3 | HOLD |
| Indonesia | 4,823.16 | +79.1 | +69.4 | +63.3 | HOLD |
| Israel | 1,101.89 | +33.0 | +25.1 | +16.1 | HOLD |
| Mexico | 135,99.23 | +89.1 | +86.7 | +81.3 | HOLD |
| Philippines | 6,672.16 | +168.0 | +161.7 | +150.8 | HOLD |
| Poland | 46,201.84 | +67.7 | +59.7 | +48.9 | HOLD |
| Portugal | 6,028.82 | -1.2 | -21.6 | -48.6 | HOLD |
| Russia | 16,191.56 | -52.8 | -51.1 | -53.6 | SELL†† |
| South Korea | 1,989.47 | +10.6 | +11.7 | +11.7 | SELL |
| Spain | 843.29 | -31.1 | -46.6 | -58.3 | HOLD |
| Switzerland | 7,761.98 | +108.5 | +96.8 | +86.0 | HOLD |
| Thailand | 1,556.02 | +171.1 | +163.6 | +150.2 | HOLD |
| Turkey | 82,605.06 | +179.9 | +164.7 | +150.7 | HOLD |
| Venezuela | 625,450.50 | +1,470.6 | +1,451.6 | +1,342.5 | HOLD |
| *Average index for March 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. | |||||
