Bloomberg:
- US futures are steady amid focus on earnings
- Meme-stock frenzy returns, baffling wall street’s ‘smart guys’
- Chipmaker selloff deepens as Micron, Nvidia fan slowdown fears
MarketWatch:
- The S&P 500’s ‘bounce within a bear market’ could fizzle before it hits 4 200
- JP Morgan says the global stock market rally will continue
- Don’t be fooled by a drop in U.S. inflation. Markets will be attuned to another figure on Wednesday
Some contradictory news confirms the uncertainty about market direction. Our advice is: ‘Stay with the technical signals to guide you’. Most shares in overbought territory has a selloff against strong resistances. Not enough steam left to break the resistances.
Global Indexes
S&P 500
The S&P 500 is hesitating at the current resistance with none of the supports broken. Notice where the 4400 resistance is as mentioned previously as a target for 2022.
DAX
The DAX is also in overbought territory and also made a selloff against resistance. It did however manage to stay above its EMA8 line similar to the S&P 500.
HANG SENG
The HANG SENG has a selloff against its strong negative trend line.
NYSE & NASDAQ Stocks
NVIDIA Corporation
The price of NVIDIA Corporation, despite beating estimates, traded lower in sympathy with Applied Materials (AMAT) after the company reported worse-than-expected second-quarter results. They also warned that its bid to acquire Arm Ltd is taking longer than expected. The selloff started with a breakaway gap.
Alphabet Inc
Alphabet also gave a power signal against strong resistance.
JSE Stocks
JSE All Shares
The JSE was closed yesterday, but on Monday the JSE All Shares continued with its positive trend and J-curve.
Northam Platinum Hldgs Ltd
Northam Platinum followed the Palladium and Platinum prices higher with its 6.4% gain. It is also busy with a J-curve.
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.
