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News in Brief
- Tencent slashes wager on stock that soared 684% in edtech frenzy
- Short sellers are having a field day betting against Crypto stocks
- Stocks bounce back from worst week since 2020
- The stock market’s big Tuesday bounce is likely to fizzle out: Capital Economics
After a strong Tuesday, futures are all negative again.
Ignoring all the news, the S&P 500 did break its short term negative trend line to close just below its EMA8 line. Theoretically this can only be a bounce in oversold territory as the close is still below all resistances above?
And the DAX did exactly the same.
The HANG SENG is hesitating below its negative trend line, but is managing to stay above its EMA8 line today.
NYSE & NASDAQ Stocks
Tesla Inc stole the limelight with its 9.4% gain, breakaway gap, trend line break and divergence at a double bottom. What more positive signs can one get? A Power signal was given at the first bottom of $632.
And NVIDIA Corporation did exactly the same except for breaking its trend line. It has now touched the 2021 $154 resistance 4 times. Notice the % declines to date.
Satrix 40 Portfolio
The Satrix 40 Portfolio closed with a long legged doji as a warning of possible change. The next lesson I am working on is candle formations!
Kumba Iron Ore
Kuba Iron Ore made a 7% gain to break my tight short term trend line, without Frontrunner confirming? Is this only a bounce in very oversold territory or will the momentum continue?
Algomodel Startegies, Education & Features
Click on Education or go to the home page to view education posts.
Frontrunner, Gaps, Trend and Cyclic Indicators are explained in these education posts.
All stock graphs are shown with a Trend Candles Template which is a feature available in Algomodel Signals Pro.