World stock markets
Monitor world stock markets and the global financial and economic conditions afecting them using MacroVar quantitative models. Click a specific stock market to view a detailed list of multiple factors affecting the specific market. Learn more about MacroVar multi-factor models and methodology.
World Stock Markets Overview
Systematic Risk model
Risk Management model
World stock markets
|Market||Country||Symbol||Last||Daily %||Weekly %||Momentum||Trend||Exhaustion|
|S&P 500||United States||SPX||4358.69||-0.36||2.64||0||0.75||-2.6|
|Bolsa de Valores de Lima SAA (BVL)||Peru||BVL||18743||1.05||0.1||0.5||1||1.05251|
|IPSA Select (IPSA)||Chile||IPSA||4274.26||1.8||-0.47||0||0.75||0.45334|
|Athens General Composite||Greece||ATG||854.22||-1.93||-6.16||1||0.75||1.06728|
|OMX Copenhagen 20||Denmark||OMXC||1708.1||-0.1||5.36||0.5||1||1.69937|
|OMX Stockholm 30||Sweden||OMXS||2334.37||-0.93||4.11||0||0.5||0.99888|
|FTSE 100||United Kingdom||FTSE||6998.28||-1.31||-1.07||-0.5||0.25||0.35618|
|PX Index||Czech Republic||PX||1188.12||2.51||1.9||1||0.5||-0.04334|
|FTSE/JSE Top 40||South Africa||JTOPI||60502.4||-2.03||1.24||0||0.75||1.22422|
|NSE All Share Index||Nigeria||ALLSHARE||37952.7||0.25||-1.88||1||1||2.61206|
|ASX All Ordinaries Index||Australia||AORD||7308.7||-0.63||0.14||1||0.75||1.03548|
|Dow Jones New Zealand||New Zealand||NZDOW||371.92||0.16||1||1||0.75||-0.01581|
|FTSE Straits Times Singapore||Singapore||STI||3119||-1.51||0.32||0.5||0.75||0.51137|
|Hang Seng||Hong Kong||HSI||27224.6||-2.03||-3.83||1||0.75||1.22317|
|BSE Sensex 30||India||BSE||52198.5||-1.08||-0.74||1||1||2.06197|
|Jakarta Stock Exchange Composite Index||Indonesia||JKSE||6029.98||0.3||-0.95||1||1||0.38671|
|FTSE Malaysia KLCI||Malaysia||KLSE||1516.52||-0.2||-3.65||0||0.75||1.21502|
|Taiwan Weighted Index||Taiwan||TWII||17458.8||-2.17||0.7||1||1||2.31671|
World Stock market ModelsMacroVar monitors world stock markets using the following quantitative models. These models are combined with statistical analysis of the specific factors affecting each financial market and analysis of world macroeconomic conditions.
World stock market momentum modelMomentum 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.
MacroVar momentum signals range from -100 to +100. The momentum signal is derived as the mean value from 4 calculations for the a specific world stock market. 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. The world stock market's 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. The momentum signal is the aggregate of the 4 values. A technical momentum rollover is identified when the momentum signal moves from positive to negative value or vice-versa.
World stock market trend modelMacroVar trend signal ranges from -100 to +100. The world stock market 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. world stock market closing price vs world stock market moving average (MA) calculation: If the stock market index is greater than world stock market value is +1, else -1, 2. stock market index Moving average slope calculation: if current stock market index moving average is higher than the previous MA, stock market index upward slope +1, else -1
Stock market index trend model can be used as a trend strength indicator. Stock market index trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when the stock market index trend strength indicator moves from positive to negative value or vice-versa.
The most important trend indicator
The stock market index 52-week simple moving average and its slope are the most important indicators defining a market’s trend. A stock market is in an uptrend when the stock market price is higher than the 52-week moving average and the stock market 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 stock market oscillator and stock market index RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.
Stock Market oscillator modelA stock market oscillator estimated by MacroVar is the z-score of the current stock market index price versus stock market index 1-year simple moving average price. The formula for the stock market index oscillator is:
stock market oscillator = (Current Price – 250 trading days stock market simple moving average price) / (250 days stock market price standard deviation)
Stock Market Index oversold conditions
A stock market is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the stock market is oversold it is often due for a rebound. Values of the stock market oscillator lower than -2.5 signify oversold conditions. It must be noted that the stock market oscillator must be analyzed ibn conjunction with the rest of a stock market's 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 stock market index RSI.
Stock Market index overbought conditions
A stock market is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the stock market index is overbought it is often due for a correction. Values of the stock market index oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of a stock market's 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.
Stock Market 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 a stock market is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During a stock market 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.
Stock Market statisticsMacroVar calculates various statistical indicators for each stock market by monitoring returns for the following timeframes: Daily, Weekly, Monthly, Yearly returns. MacroVar analyzes all how each model above and a specific stock market's individual factors have affected the stock market historically using a sophisticated backtesting algorithm.
Stock Market Risk Monitor