The turbulence undergone by the FTSE 100 index during the month meant that after two dips it was able regain its ground and finished the month where it started. It was not, however, the same case for London’s junior market, the Alternative Investment Market (Aim).
Aim has been underperforming the FTSE 100 index for most of this year and it was unable to make up any ground lost at the beginning of the month. As a consequence, Aim’s IC/Coppock Indicator produced a sell signal. It wasn’t alone as there were a raft of other sell signals given in April. Australian Energy, Germany, South African Industrials, India, Mexico and Venezuela had also gone through a lengthy bull run up to this point. These, along with the FTSE All-Share sectors for mining, steel, diversified industrials, electronic and electrical equipment and personal care, all gave sell signals.
Summary table of IC/Coppock indicators – major markets worldwide:
| Index/market | April average index | April indicator* | March indicator* | February indicator* | Signal† |
|---|---|---|---|---|---|
| UK Government securities | 172.4 | +4.8 | +6.6 | +10.6 | WAIT |
| FT 30 | 2,449.1 | +100.2 | +87.5 | +75.0 | HOLD |
| FTSE 100 | 6,361.0 | +47.5 | +42.3 | +36.9 | HOLD |
| FTSE All-Share | 3,352.8 | +56.1 | +50.4 | +44.2 | HOLD |
| FT Gold Mines | 1,977.7 | -140.5 | -129.5 | -122.8 | WAIT |
| Amsterdam | 533.3 | +48.1 | +46.8 | +46.7 | HOLD |
| ASX All Ord | 4,990.7 | +60.0 | +51.9 | +38.1 | HOLD |
| S&P/ASX 200 Energy | 12,770.4 | -38.3 | -37.6 | -42.2 | SELL |
| Belgium S.E. | 9,128.9 | +92.0 | +91.7 | +89.9 | HOLD |
| Dax (Germany) | 7,723.1 | +105.6 | +106.6 | +105.9 | SELL |
| Dow Jones | 14,675.9 | +60.2 | +57.9 | +57.1 | HOLD |
| Rep of Ireland (ISEQ) | 3,870.6 | +113.8 | +112.8 | +112.0 | HOLD |
| France CAC 40 | 3,735.1 | +64.9 | +56.1 | +50.3 | HOLD |
| Hang Seng | 22,054.3 | +61.7 | +61.4 | +58.5 | HOLD |
| Italy BCI | 871.5 | +18.1 | +6.7 | +2.9 | HOLD |
| S. Africa Gold | 1,608.0 | -130.2 | -117.5 | -108.8 | WAIT |
| S. Africa Industrial | 40,178.0 | +144.1 | +149.9 | +149.9 | SELL |
| Straits Times | 3,310.1 | +62.1 | +58.8 | +54.9 | HOLD |
| Tokyo New S.E. | 1,110.4 | +90.1 | +59.0 | +39.4 | HOLD |
| Toronto Comp | 12,299.2 | +9.1 | +6.6 | +1.1 | HOLD |
| Toronto Gold | 1,760.7 | -138.5 | -127.5 | -123.5 | WAIT |
| Sweden OMX | 1,178.4 | +65.3 | +61.3 | +57.5 | HOLD |
| FTSE techMARK 100 | 2,728.7 | +109.3 | +108.0 | +103.3 | HOLD |
| Nasdaq 100 | 2,818.6 | +61.1 | +72.4 | +84.4 | WAIT |
| *Average index for April 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 | April average index | April indicator* | March indicator* | February indicator* | Signal† |
|---|---|---|---|---|---|
| Mining | 16,216.3 | -59.1 | -55.7 | -59.8 | SELL |
| Oil & gas | 7,869.3 | -28.9 | -26.4 | -21.6 | WAIT |
| Chemicals | 9,897.7 | +117.6 | +132.5 | +139.5 | WAIT |
| Constr & building materials | 3,844.3 | +35.8 | +25.3 | +11.4 | HOLD |
| Forestry & paper | 10,073.1 | +232.3 | +207.8 | +182.1 | HOLD |
| Steel & other metals | 2,061.5 | -235.5 | -227.4 | -231.3 | SELL |
| Aerospace & defence | 4,885.3 | +125.4 | +117.5 | +111.3 | HOLD |
| Diversified industrials | 3,022.3 | +121.6 | +124.4 | +119.7 | SELL |
| Electronic & electrical equipment | 4,773.7 | +130.3 | +134.3 | +129.5 | SELL |
| Engingeering & machinery | 9,402.2 | +90.5 | +83.5 | +70.0 | HOLD |
| Automobiles & parts | 6,173.0 | +111.9 | +95.7 | +75.1 | HOLD |
| Household goods & textiles | 3,714.0 | +183.3 | +114.6 | +32.1 | HOLD |
| Beverages | 15,057.9 | +166.3 | +165.9 | +162.3 | HOLD |
| Food producers | 7,528.1 | +130.9 | +113.2 | +94.7 | HOLD |
| Healthcare | 4,273.4 | +88.5 | +79.4 | +70.5 | HOLD |
| Personal care | 18,163.8 | -13.8 | -10.2 | -11.6 | SELL |
| Pharmaceuticals | 10,858.8 | +22.4 | +11.6 | +7.6 | HOLD |
| Tobacco | 38,802.9 | +42.7 | +48.3 | +56.0 | WAIT |
| General retailers | 2,099.7 | +133.7 | +129.0 | +124.9 | HOLD |
| Leisure & hotels | 5,882.1 | +162.3 | +149.6 | +132.5 | HOLD |
| Media entertainment | 5,413.4 | +118.8 | +111.7 | +102.6 | HOLD |
| Support services | 5,763.9 | +122.9 | +121.9 | +118.2 | HOLD |
| Transport | 3,617.2 | +72.9 | +63.6 | +56.2 | HOLD |
| Food & drug retailers | 4,720.6 | +13.6 | -6.2 | -27.5 | HOLD |
| Telecommns services | 3,309.9 | +150.0 | +140.8 | +133.0 | HOLD |
| Electricity | 9,634.9 | +61.7 | +54.7 | +48.8 | HOLD |
| Other utilities | 7,776.5 | +81.0 | +75.6 | +73.8 | HOLD |
| Banks | 4,687.4 | +133.1 | +122.1 | +107.6 | HOLD |
| Insurance | 1,973.0 | +106.4 | +98.7 | +86.7 | HOLD |
| Life assurance | 5,717.1 | +157.4 | +146.7 | +137.6 | HOLD |
| Investment companies | 6,787.6 | +60.9 | +51.1 | +40.9 | HOLD |
| Other finance | 5,615.7 | +121.0 | +100.3 | +77.4 | HOLD |
| IT hardware | 1,383.0 | +196.2 | +178.3 | +149.3 | HOLD |
| Software & computer services | 1,129.9 | +144.6 | +142.7 | +137.2 | HOLD |
| *Average index for April 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 | April average index | April indicator* | March indicator* | February indicator* | Signal† |
|---|---|---|---|---|---|
| Argentina | 12,882.5 | +90.2 | +39.4 | +4.3 | HOLD |
| FTSE Aim | 713.3 | -29.1 | -28.4 | -29.5 | SELL |
| Brazil | 54,759.3 | -25.8 | -15.1 | -1.8 | WAIT |
| China | 2,477.5 | -21.0 | -26.9 | -37.0 | HOLD |
| Greece | 912.2 | +113.9 | +84.5 | +50.9 | HOLD |
| India | 5,709.9 | +69.2 | +69.5 | +68.1 | SELL |
| Indonesia | 4,959.2 | +86.8 | +79.1 | +69.4 | HOLD |
| Israel | 1,087.0 | +33.7 | +33.0 | +25.1 | HOLD |
| Mexico | 13,043.0 | +83.4 | +89.1 | +86.7 | SELL |
| Philippines | 6,881.9 | +174.9 | +168.0 | +161.7 | HOLD |
| Poland | 44,382.4 | +70.6 | +67.7 | +59.7 | HOLD |
| Portugal | 5,884.9 | +19.1 | -1.2 | -21.6 | HOLD |
| Russia | 15,119.1 | -53.9 | -52.8 | -51.1 | WAIT |
| South Korea | 1,938.9 | +7.4 | +10.6 | +11.7 | WAIT |
| Spain | 813.3 | -10.1 | -31.1 | -46.6 | HOLD |
| Switzerland | 7,760.3 | +118.2 | +108.5 | +96.8 | HOLD |
| Thailand | 1,539.1 | +173.7 | +171.1 | +163.6 | HOLD |
| Turkey | 8,4291.1 | +193.3 | +179.9 | +164.7 | HOLD |
| Venezuela | 641,503.8 | +1,412.3 | +1,470.6 | +1,451.6 | SELL |
| *Average index for April 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. | |||||
