PX Index closed up by 2.51% to 1188.12 on 23 January 2021 and +1.9% on a weekly basis. PX Index momentum was last calculated at +100.0/100 indicating positive momentum. PX Index trend is +50.0/100 indicating a positive trend. PX Index momentum exhaustion is -0.04334 indicating PX Index is oversold.PX Index RSI is 78.901 .
PX Index Chart
PX Index Statistics
PX Index closed at 1188.12 on 23 January 2021. PX Index trend was last calculated at +50.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. PX Index momentum was last calculated at +100.0/100 (range: -100 to +100) indicating positive momentum. PX Index momentum exhaustion is -0.04334 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating PX Index is oversold and a possible reversal is imminent. PX Index RSI was last calculated at 78.901. PX Index moving averages were last recorded as follows: 1-month moving average: 1009.51 in an uptrend , 1-quarter moving average: 939.014 in an uptrend and 1-year moving average: 1214.61 in a downtrend. PX Index annual return was last recorded at None%, daily return was last recorded at 2.51%, and weekly return was last recorded at 1.9%. PX Index histrorical 20-day volatility was last recorded at 20.2237%, PX Index alpha None, PX Index beta None and PX Index maximum drawdown was recorded at None%. MacroVar models monitor PX Index statistics based on historical data since 1970.
PX Index News
PX Index Factors
Czech Republic Markets
|Czech Koruna US Dollar (CZK/USD)||CZKUSD||21.78||-0.5||-1||-1.52733||41.2903||0.74||2.42||1.98||-0.04564|
|Czech Republic 10-Year Bond Yield||CZ.10Y||1.76||0.5||0.25||0.38697||52.6911||-3.08||-3.08||0.86||-0.23006|
|Czech Republic 5-Year Bond Yield||CZ.5Y||1.66||0.5||0||-0.14339||48.3775||-2.18||1.72||29.69||-0.5163|
|Czech Republic 2-year bond yield||CZ.2Y||1.42||-0.5||0.25||-0.60753||51.2166||167.92||297.76||121.18||-0.93587|
|Czech Republic Yield Curve||CZ.YC||0.34||0||0.5||1.09163||49.8797||-73.56||-76.7||-69.17||-15.7013|
Czech Republic Economic Indicators
|balance of trade||6347||20913||-0.696505||-12.1156||-1.0||1.0||0.0333333||2021-05-31|
|banks balance sheet||8734120||8661080||0.00843313||0.0650924||1.0||1.0||0.55||2021-02-28|
|cash reserve ratio||2||2||0||0||-1.0||-1.0||0.508333||2020-01-31|
|central bank balance sheet||3607530||3550420||0.0160854||0.0558954||-1.0||1.0||0.433333||2021-02-28|
|consumer price index cpi||115.2||114.6||0.0052356||0.0276539||1.0||1.0||0.666667||2021-06-30|
|core inflation rate||2.51||2.73||-0.0805861||-0.0467148||-1.0||-1.0||0.316667||2021-06-30|
|current account to gdp||-0.4||0.3||-2.33333||-0.913043||1.0||1.0||0||2019-01-31|
|deposit interest rate||0.05||0.05||0||-0.95||-1.0||-1.0||0.0833333||2021-01-31|
|foreign direct investment||146052||173747||-0.159398||-0.933293||-1.0||-1.0||0||2020-01-28|
|foreign exchange reserves||169070||166790||0.0136699||0.123359||1.0||1.0||0.6||2021-05-31|
|gdp growth annual||-2.1||-4.8||-0.5625||-1.4375||-1.0||-1.0||0.283333||2021-01-01|
|government debt to gdp||38.1||30.3||0.257426||0.34629||1.0||1.0||0||2020-01-31|
|industrial production mom||-3.6||1.9||-2.89474||-0.85124||-1.0||1.0||0.666667||2021-05-31|
|loans to private sector||1145280||1139620||0.00496657||0.0073089||-1.0||1.0||0.0666667||2021-02-28|
|long term unemployment rate||0.7||0.6||0.166667||-0.125||1.0||-1.0||0.6||2020-10-01|
|money supply m0||688099||685815||0.00333034||0.0761552||1.0||1.0||0.516667||2021-05-31|
|money supply m1||5130250||5081080||0.00967708||0.139812||1.0||1.0||0.816667||2021-05-31|
|money supply m2||5507510||5471610||0.00656114||0.100487||1.0||1.0||0.766667||2021-05-31|
|money supply m3||5581090||5568150||0.00232393||0.102394||1.0||1.0||0.766667||2021-04-30|
|Producer Price Index||109.3||108.4||0.00830258||0.061165||1.0||1.0||1||2021-06-30|
|retail sales MoM||7.3||0.7||9.42857||-4.31818||1.0||1.0||0.15||2021-05-31|
|youth unemployment rate||7.5||8.3||-0.0963855||-0.0625||-1.0||-1.0||0.633333||2021-05-31|
|ESI - Economic Composite||94.6||83.3||0.135654||0.371015||1.0||1.0||1||2021-04-01|
PX Index Trading Signals
MacroVar estimates the following signals: PX Index momentum, PX Index trend, PX Index oscillator, PX Index RSI and PX Index returns.
PX Index MomentumMomentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.
MacroVarPX Index momentum signal ranges from -100 to +100. The PX Index momentum signal is derived as the mean value from 4 calculations for the PX Index. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. PX Index return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. PX Index momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when PX Index momentum signal moves from positive to negative value or vice-versa.
PX Index trendPX Index trend signal ranges from -100 to +100. PX Index trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. PX Index Closing price vs PX Index moving average (MA) calculation: If PX Index is greater than PX Index MA value is +1, else -1, 2. PX Index Moving average slope calculation: if current PX Index moving average is higher than the previous MA, PX Index upward slope +1, else -1
PX Index trend model can be used as a trend strength indicator. PX Index trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when PX Index trend strength indicator moves from positive to negative value or vice-versa.
The most important trend indicator
The PX Index 52-week simple moving average and its slope are the most important indicators defining a market’s trend. PX Index is in an uptrend when PX Index price is higher than the 52-week moving average and the PX Index 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the PX Index oscillator and PX Index RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.
PX Index oscillatorThe PX Index oscillator estimated by MacroVar is the z-score of the current PX Index price versus PX Index 1-year simple moving average price. The formula for the PX Index oscillator is:
PX Index oscillator = (Current Price – 250 trading days PX Index simple moving average price) / (250 days PX Index price standard deviation)
PX Index oversold conditions
PX Index is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the PX Index is oversold it is often due for a rebound. Values of the PX Index oscillator lower than -2.5 signify oversold conditions. It must be noted that the PX Index oscillator must be analyzed ibn conjunction with the rest of PX Index quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the PX Index RSI.
PX Index overbought conditions
PX Index is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the PX Index is overbought it is often due for a correction. Values of the PX Index oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the PX Index quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.
PX Index RSI indicatorThe RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when PX Index is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During PX Index uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.
PX Index returnsMacroVar calculates PX Index returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:
PX Index returns = (PX Index Closing Price – PX Index Previous Price)/(PX Index Previous Price)