U.S. Inflation Soars

Bloomberg:

  • JPMorgan says Bitcoin cost of production may be down to $13,000
  • European stocks drop as U.S. inflation soars, Euro reaches parity

MarketWatch:

  • Is the U.S. headed for recession? 58% of Americans think we’re in one right now, poll says
  • U.S. stocks tumble for 4th day in a row on hotter-than-expected inflation report

Inflation is pushing the stock markets further down to sideways. A few sideways movements are shown below.

Global Indexes

S&P 500

The S&P 500 remains in all negative territory below all resistances above.

DAX

Similarly for the DAX that looks a little better with its sideways movement. Notice the hammer candle!

HANG SENG

Similarly for the HANG SENG that is trading with doji in all negative territory.

NYSE & NASDAQ Stocks

Tesla Inc

Tesla is in the center of its sideways channel.

Devon Energy Corp

Devon Energy Corp is also starting to move sideways on strong support.

JSE Stocks

Satrix 40 Portfolio

The Satrix 40 Portfolio also remains in its sideways channel and touched the bottom support again.

Vodacom Group Ltd

Another sideways movement for Vodacom. It bounced down from the top resistance of the channel.

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.

Algomodel Signals
Algomodel Signals
Algomodel Signals Pro
Algomodel Signals Pro

Leave a Comment

Your email address will not be published.