Stock markets around the world were rocked by news coming out of China and the US during June. The Central Bank in the US caused concerns when it announced there could be a scaling down of its economic stimulus measures, and at the same time there were worries concerning China's liquidity squeeze in its money markets.
At the very end of June, announcements from the US and China calmed the situation, but the reassurances came too late for 14 markets/sectors as their IC/Coppock indicators produced sell signals. They were for Belgium, Hong Kong, South African Industrials, China, Philippines, South Korea, Thailand, Turkey, mining, electronics, beverages, tobacco, electricity and other utilities.
The indicator for the FTSE 100 index remained unaffected on hold, but it won't remain in this position in July unless it can make up considerable ground lost in June. Meanwhile, on a more positive note, the Venezuelan stock market rose some 20 per cent over the month and 109 per cent since the start of this year and its indicator produced an unofficial buy signal.
Summary table of IC/Coppock indicators - major markets worldwide:
| Index/market | June average index | June indicator* | May indicator* | April indicator* | Signal† |
|---|---|---|---|---|---|
| UK Govt. Secs | 165.74 | -5.0 | +1.1 | +4.8 | WAIT |
| FT 30 | 2,516.44 | +138.8 | +124.9 | +100.2 | HOLD |
| FTSE 100 | 6,299.43 | +66.5 | +61.7 | +47.5 | HOLD |
| FTSE All-Share | 3,328.04 | +76.2 | +70.8 | +56.1 | HOLD |
| FT Gold Mines | 1,626.76 | -170.3 | -151.7 | -140.5 | WAIT |
| Amsterdam | 531.56 | +59.6 | +57.2 | +48.1 | HOLD |
| ASX All Ord | 4,761.80 | +77.4 | +72.0 | +60.0 | HOLD |
| S&P/ASX 200 Energy | 12,701.67 | -21.0 | -29.7 | -38.3 | HOLD |
| Belgium S.E. | 9,017.25 | +97.5 | +98.7 | +92.0 | SELL |
| Dax (Germany) | 8,089.14 | +125.1 | +116.7 | +105.6 | HOLD |
| Dow Jones | 15,035.00 | +75.2 | +68.2 | +60.2 | HOLD |
| Rep of Ireland (ISEQ) | 3,922.94 | +126.8 | +121.2 | +113.8 | HOLD |
| France CAC 40 | 3,792.53 | +94.3 | +84.1 | +64.9 | HOLD |
| Hang Seng | 21,063.84 | +69.4 | +69.9 | +61.7 | SELL |
| Italy BCI | 883.91 | +59.4 | +43.7 | +18.1 | HOLD |
| S. Africa Gold | 1,384.59 | -170.9 | -149.2 | -130.2 | WAIT |
| S. Africa Industrial | 39,919.33 | +140.8 | +147.3 | +144.1 | SELL |
| Straits Times | 3,172.11 | +73.3 | +71.9 | +62.1 | HOLD |
| Tokyo New S.E. | 1,089.48 | +174.4 | +142.4 | +90.1 | HOLD |
| Toronto Comp | 12,221.43 | +21.2 | +17.0 | +9.1 | HOLD |
| Toronto Gold | 1,552.90 | -162.5 | -147.0 | -138.5 | WAIT |
| Sweden OMX | 1,172.12 | +81.6 | +76.2 | +65.3 | HOLD |
| FTSE techMARK 100 | 2,735.65 | +123.9 | +120.8 | +109.3 | HOLD |
| Nasdaq 100 | 2,937.31 | +62.8 | +62.2 | +61.1 | HOLD |
| *Average index for June 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 | June average index | June indicator* | May indicator* | April indicator* | Signal† |
|---|---|---|---|---|---|
| Mining | 14,856.76 | -56.6 | -54.1 | -59.1 | SELL |
| Oil & Gas | 7,899.59 | -17.0 | -19.7 | -28.9 | HOLD |
| Chemicals | 10,024.28 | +100.3 | +110.4 | +117.6 | WAIT |
| Constr & Bldg mats | 3,721.04 | +60.0 | +51.7 | +35.8 | HOLD |
| Forestry & paper | 9,451.30 | +279.6 | +270.6 | +232.3 | HOLD |
| Steel & other metals | 1,532.72 | -248.7 | -239.4 | -235.5 | WAIT |
| Aerospace & defence | 5,102.22 | +153.7 | +142.3 | +125.4 | HOLD |
| Diversified industrls | 3,097.39 | +134.2 | +129.9 | +121.6 | HOLD |
| Electronic & electr eqpt | 4,713.14 | +130.1 | +132.5 | +130.3 | SELL |
| Eng'g & machinery | 9,392.19 | +123.7 | +107.3 | +90.5 | HOLD |
| Automobiles & parts | 7,075.97 | +193.6 | +149.8 | +111.9 | HOLD |
| H'hold goods textiles | 4,162.03 | +366.3 | +274.6 | +183.3 | HOLD |
| Beverages | 14,263.93 | +162.6 | +171.1 | +166.3 | SELL |
| Food producers | 7,186.86 | +156.1 | +149.3 | +130.9 | HOLD |
| Health | 4,283.09 | +106.3 | +101.5 | +88.5 | HOLD |
| Personal care | 18,860.53 | +5.6 | -3.7 | -13.8 | HOLD |
| Pharmaceuticals | 10,958.67 | +48.6 | +39.3 | +22.4 | HOLD |
| Tobacco | 38,234.83 | +41.0 | +44.9 | +42.7 | SELL |
| General retailers | 2,294.13 | +170.7 | +153.4 | +133.7 | HOLD |
| Leisure & hotels | 6,069.81 | +193.0 | +182.9 | +162.3 | HOLD |
| Media ent't | 5,481.01 | +141.2 | +131.3 | +118.8 | HOLD |
| Support services | 5,701.09 | +134.0 | +131.8 | +122.9 | HOLD |
| Transport | 3,841.99 | +109.0 | +92.7 | +72.9 | HOLD |
| Food & drug rtlrs | 4,431.60 | +47.6 | +36.1 | +13.6 | HOLD |
| Telecommns svs | 3,579.23 | +188.8 | +171.0 | +150.0 | HOLD |
| Electricity | 9,372.29 | +68.3 | +70.3 | +61.7 | SELL |
| Other utilities | 7,455.73 | +84.7 | +88.2 | +81.0 | SELL |
| Banks | 4,749.08 | +167.3 | +158.6 | +133.1 | HOLD |
| Insurance | 1,977.82 | +118.7 | +116.6 | +106.4 | HOLD |
| Life assurance | 5,807.78 | +199.3 | +187.4 | +157.4 | HOLD |
| Investment cos | 6,694.63 | +85.6 | +77.2 | +60.9 | HOLD |
| Other finance | 5,603.38 | +179.3 | +160.1 | +121.0 | HOLD |
| IT hardware | 1,279.45 | +259.3 | +246.1 | +196.2 | HOLD |
| Software & comp svs | 1,178.47 | +161.3 | +157.2 | +144.6 | HOLD |
| *Average index for June 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 | June average index | June indicator* | May indicator* | MApril indicator* | Signal† |
|---|---|---|---|---|---|
| Argentina | 11,661.32 | +178.6 | +152.4 | +90.2 | HOLD |
| FTSE Aim | 708.83 | -13.2 | -22.4 | -29.1 | HOLD |
| Brazil | 49,604.63 | -35.1 | -27.2 | -25.8 | WAIT |
| China | 2,369.77 | -15.7 | -15.6 | -21.0 | SELL |
| Greece | 908.78 | +235.8 | +190.7 | +113.9 | HOLD |
| India | 5,780.41 | +81.1 | +80.5 | +69.2 | HOLD |
| Indonesia | 4,726.88 | +106.2 | +99.4 | +86.8 | HOLD |
| Israel | 1,093.61 | +42.6 | +37.8 | +33.7 | HOLD |
| Mexico | 11,397.71 | +58.7 | +73.2 | +83.4 | WAIT |
| Philippines | 6,410.17 | +182.6 | +188.0 | +174.9 | SELL |
| Poland | 46,885.63 | +86.3 | +80.1 | +70.6 | HOLD |
| Portugal | 5,707.57 | +71.0 | +48.0 | +19.1 | HOLD |
| Russia | 14,335.62 | -45.3 | -46.0 | -53.9 | HOLD |
| South Korea | 1,884.41 | +9.8 | +11.0 | +7.4 | SELL |
| Spain | 808.13 | +45.2 | +23.5 | -10.1 | HOLD |
| Switzerland | 7,641.49 | +142.3 | +136.0 | +118.2 | HOLD |
| Thailand | 1,455.87 | +178.3 | +183.0 | +173.7 | SELL |
| Turkey | 76,311.81 | +216.5 | +221.4 | +193.3 | SELL |
| Venezuela | 891,590.10 | +1,386.0 | +1,368.5 | +1,412.3 | BUY†† |
| *Average index for June 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. | |||||
