Short-Term (days/weeks): higher for DJ Eurostoxx 50

Short-Term (days/weeks): higher
The DJ Eurostoxx 50 was lower last week, breaching support at the summer 2023 price lows as Daily OB/OS momentum fell.
At the end of the week, the DJ Eurostoxx 50 was turning up at trend support from the September 2022 low; Daily OB/OS momentum was turning up at the moderately oversold levels seen at the summer lows.
Price turning up at support as Daily OB/OS momentum turns up in oversold territory suggests short-term price strength for the DJ Eurostoxx 50. Also, the Number of NYSE Stocks with Weekly Money Flow Turning Positive is signaling a short-term low for the key US equity market next week. However, the intermediate trend for Europe equities is now negative, so short-term strength now is likely to be countertrend.
See Daily OB/OS Charts, attached, page 6.

Intermediate-Term (weeks/months): negative (was neutral)
Intermediate breadth and momentum indicators for Europe/UK were all lower week-on-week at the close on Thursday, including DJ Stoxx 600 and FT All Share Intermediate Term Indicators and Money Flow of the DJ Stoxx 600 and FT All Share Stock.
Intermediate indicators for the DJ Stoxx 600 are modestly oversold and FT All Share intermediate-term indicators are moderately oversold.
The DJ Stoxx 600 and FTSE were both sharply lower week-on-week at the close on Thursday ; the DJ Stoxx 600 is testing minor support and the FTSE is turning down at intermediate resistance.
See Weekly Charts, pages 7 and 8, attached.
Lower Europe intermediate indicators of breadth and momentum accompanied by sharp declines in the DJ Stoxx 600 suggests a negative intermediate outlook for the DJ Stoxx 600.
The intermediate outlook (weeks/months) for the key US equity market is now negative too.
The intermediate outlook (weeks/months) for Europe equity indices is negative (was neutral).