Economy can Handle Additional Hikes?

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News in Brief

Bloomberg:

  • The S&P 500 hasn’t had such a bad first half since the Nixon era

MarketWatch:

  • Tesla’s new factories are ‘gigantic money furnaces,’ Elon Musk says
  • Powell says U.S. economy can handle the additional hikes that are coming
  • AMD stock now at a ‘reasonable valuation’ after near -50% pullback, Morgan Stanley says

Markets were very hesitant yesterday after Tuesday’s bounce.

Global Indexes

S&P 500

The S&P 500 is very hesitant just below first resistance, the EMA8 line.

DAX

The DAX bounced down from its EMA8 line resistance, still leaving it in all negative territory.

HANG SENG

With all this indecision the HANG SENG currently trading with a doji, more indecision, on its EMA8 line.

NYSE & NASDAQ Stocks

Tesla Inc

To add to all this indecision Tesla Inc made an inverted hammer candlestick. Trend candles did however turn to green to confirm the break?

Advance Micro Devices Inc

I was interest whether Advance Micro Devices actually did correct 50%. Yip it did. It is also very uncertain with 3 small body candles next to each other.

JSE Stocks

Satrix 40 Portfolio

Another wild volatile day for the Satrix 40 Portfolio to close just above support. We have 3 turning candles and 3 bearish candles all touching the 60 support. Something must give!

PPC Ltd

The economy is not helping PPC that also lost 53% since the beginning of the year. Yesterday -19% and Frontrunner is warning that more lows are coming.

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.

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