There were five official IC/Coppock buy signals given in May, along with nine unofficial ones - where the indicators turned up while still in the positive phase.
Even those markets that produced sell signals for the IC/Coppock Indicators in April turned back up in May. The FTSE 100 index looked set to hit an all-time high, but it tailed off towards the end of the month and missed the record by a whisker. That said, this index is currently up 21 per cent since its buy signal was given in July 2012.
In the US, stock markets did hit new all-time highs but market environment and investors' nerves within this area were somewhat fragile and markets responded by falling in the latter part of the month. This uncertainty didn't prevent the Nasdaq 100 index from producing an unofficial buy signal for May. Other new buy signals were given for South Korea and Russia, along with the indicator for the FTSE Aim index.
Summary table of IC/Coppock indicators - major markets worldwide:
| Index/market | May average index | May indicator* | April indicator* | March indicator* | Signal† |
|---|---|---|---|---|---|
| UK Govt. Secs | 170.30 | +1.1 | +4.8 | +6.6 | WAIT |
| FT 30 | 2,623.53 | +124.9 | +100.2 | +87.5 | HOLD |
| FTSE 100 | 6,647.35 | +61.7 | +47.5 | +42.3 | HOLD |
| FTSE All-Share | 3,503.28 | +70.8 | +56.1 | +50.4 | HOLD |
| FT Gold Mines | 1,765.84 | -151.7 | -140.5 | -129.5 | WAIT |
| Amsterdam | 556.47 | +57.2 | +48.1 | +46.8 | HOLD |
| ASX All Ord | 5,095.70 | +72.0 | +60.0 | +51.9 | HOLD |
| S&P/ASX 200 Energy | 13,183.19 | -29.7 | -38.3 | -37.6 | BUY†† |
| Belgium S.E. | 9,454.04 | +98.7 | +92.0 | +91.7 | HOLD |
| Dax (Germany) | 8,317.43 | +116.7 | +105.6 | +106.6 | BUY†† |
| Dow Jones | 15,172.18 | +68.2 | +60.2 | +57.9 | HOLD |
| Rep of Ireland (ISEQ) | 4,002.75 | +121.2 | +113.8 | +112.8 | HOLD |
| France CAC 40 | 3,968.70 | +84.1 | +64.9 | +56.1 | HOLD |
| Hang Seng | 22,933.09 | +69.9 | +61.7 | +61.4 | HOLD |
| Italy BCI | 939.88 | +43.7 | +18.1 | +6.7 | HOLD |
| S. Africa Gold | 1,427.47 | -149.2 | -130.2 | -117.5 | WAIT |
| S. Africa Industrial | 42,443.23 | +147.3 | +144.1 | +149.9 | BUY†† |
| Straits Times | 3,409.05 | +71.9 | +62.1 | +58.8 | HOLD |
| Tokyo New S.E. | 1,203.38 | +142.4 | +90.1 | +59.0 | HOLD |
| Toronto Comp | 1,2585.12 | +17.0 | +9.1 | +6.6 | HOLD |
| Toronto Gold | 1,625.39 | -147.0 | -138.5 | -127.5 | WAIT |
| Sweden OMX | 1,225.90 | +76.2 | +65.3 | +61.3 | HOLD |
| FTSE techMARK 100 | 2,853.09 | +120.8 | +109.3 | +108.0 | HOLD |
| Nasdaq 100 | 2,981.19 | +62.2 | +61.1 | +72.4 | BUY†† |
| *Average index for May 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 | May average index | May indicator* | April indicator* | March indicator* | Signal† |
|---|---|---|---|---|---|
| Mining | 16,279.03 | -54.1 | -59.1 | -55.7 | BUY |
| Oil & Gas | 8,263.50 | -19.7 | -28.9 | -26.4 | BUY |
| Chemicals | 10,237.22 | +110.4 | +117.6 | +132.5 | WAIT |
| Constr & Bldg mats | 3,881.33 | +51.7 | +35.8 | +25.3 | HOLD |
| Forestry & paper | 10,541.80 | +270.6 | +232.3 | +207.8 | HOLD |
| Steel & other metals | 1,926.84 | -239.4 | -235.5 | -227.4 | WAIT |
| Aerospace & defence | 5,190.33 | +142.3 | +125.4 | +117.5 | HOLD |
| Diversified industrls | 3,200.05 | +129.9 | +121.6 | +124.4 | BUY†† |
| Electronic & electr eqpt | 4,907.38 | +132.5 | +130.3 | +134.3 | BUY†† |
| Eng'g & machinery | 9,819.27 | +107.3 | +90.5 | +83.5 | HOLD |
| Automobiles & parts | 6,941.45 | +149.8 | +111.9 | +95.7 | HOLD |
| H'hold goods textiles | 3,981.00 | +274.6 | +183.3 | +114.6 | HOLD |
| Beverages | 15,352.07 | +171.1 | +166.3 | +165.9 | HOLD |
| Food producers | 7,666.29 | +149.3 | +130.9 | +113.2 | HOLD |
| Health | 4,400.21 | +101.5 | +88.5 | +79.4 | HOLD |
| Personal care | 19,701.09 | -3.7 | -13.8 | -10.2 | BUY |
| Pharmaceuticals | 11,313.07 | +39.3 | +22.4 | +11.6 | HOLD |
| Tobacco | 40,255.62 | +44.9 | +42.7 | +48.3 | BUY†† |
| General retailers | 2,283.00 | +153.4 | +133.7 | +129.0 | HOLD |
| Leisure & hotels | 6,246.86 | +182.9 | +162.3 | +149.6 | HOLD |
| Media ent't | 5,602.02 | +131.3 | +118.8 | +111.7 | HOLD |
| Support services | 5,929.71 | +131.8 | +122.9 | +121.9 | HOLD |
| Transport | 3,786.45 | +92.7 | +72.9 | +63.6 | HOLD |
| Food & drug rtlrs | 4,794.16 | +36.1 | +13.6 | -6.2 | HOLD |
| Telecommns svs | 3,566.05 | +171.0 | +150.0 | +140.8 | HOLD |
| Electricity | 9,927.87 | +70.3 | +61.7 | +54.7 | HOLD |
| Other utilities | 8,077.08 | +88.2 | +81.0 | +75.6 | HOLD |
| Banks | 5,031.60 | +158.6 | +133.1 | +122.1 | HOLD |
| Insurance | 2,013.90 | +116.6 | +106.4 | +98.7 | HOLD |
| Life assurance | 6,240.23 | +187.4 | +157.4 | +146.7 | HOLD |
| Investment cos | 7,014.57 | +77.2 | +60.9 | +51.1 | HOLD |
| Other finance | 6,064.72 | +160.1 | +121.0 | +100.3 | HOLD |
| IT hardware | 1,530.82 | +246.1 | +196.2 | +178.3 | HOLD |
| Software & comp svs | 1,189.85 | +157.2 | +144.6 | +142.7 | HOLD |
| *Average index for May 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 | May average index | May indicator* | April indicator* | March indicator* | Signal† |
|---|---|---|---|---|---|
| Argentina | 13,618.04 | +152.4 | +90.2 | +39.4 | HOLD |
| FTSE Aim | 722.53 | -22.4 | -29.1 | -28.4 | BUY |
| Brazil | 55,440.52 | -27.2 | -25.8 | -15.1 | WAIT |
| China | 2,565.25 | -15.6 | -21.0 | -26.9 | HOLD |
| Greece | 1,060.13 | +190.7 | +113.9 | +84.5 | HOLD |
| India | 6,074.82 | +80.5 | +69.2 | +69.5 | BUY* |
| Indonesia | 5,100.44 | +99.4 | +86.8 | +79.1 | HOLD |
| Israel | 1,093.60 | +37.8 | +33.7 | +33.0 | HOLD |
| Mexico | 12,057.97 | +73.2 | +83.4 | +89.1 | WAIT |
| Philippines | 7,212.15 | +188.0 | +174.9 | +168.0 | HOLD |
| Poland | 45,774.53 | +80.1 | +70.6 | +67.7 | HOLD |
| Portugal | 6,125.55 | +48.0 | +19.1 | -1.2 | HOLD |
| Russia | 15,171.09 | -46.0 | -53.9 | -52.8 | BUY |
| South Korea | 1,974.45 | +11.0 | +7.4 | +10.6 | BUY†† |
| Spain | 853.48 | +23.5 | -10.1 | -31.1 | HOLD |
| Switzerland | 8,127.16 | +136.0 | +118.2 | +108.5 | HOLD |
| Thailand | 1,611.37 | +183.0 | +173.7 | +171.1 | HOLD |
| Turkey | 90,092.06 | +221.4 | +193.3 | +179.9 | HOLD |
| Venezuela | 749,714.90 | +1,368.5 | +1,412.3 | +1,470.6 | WAIT |
| *Average index for May 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. | |||||
