Stocks Surge & Treasury Yields Plummet

Bloomberg:

Apple inches closer to erasing 2022 losses as inflation cools

MarketWatch:

Fed’s Kashkari says July is ‘first hint’ of possible good news on inflation
July inflation and jobs data suggest no recession this year, Laura Tyson says

Just when I thought that the US markets are losing momentum, inflation data added extra steam and we had a strong surge.

We made some changes to the color scheme of the MACD bars and will release a new version soon. Our next lesson will also be about the MACD.

Global Indexes

S&P 500

After touching its EMA8 line the S&P 500 made a breakaway gap to break important resistance. All the indexes in the US had breakaway gaps.

DAX

The DAX made an engulfing bull candle to signal continuation of its bull trend.

HANG SENG

Even the HANG SENG is making a Harami-doji candle formation to signal a possible turn. Will we see a trendline break next?

NYSE & NASDAQ Stocks

Albemarle Corporation

After all the hesitation candles at resistance, Albemarle Corporation made a 6% gain to break it. It is well on its way to top resistance. Notice that the MACD changed color from a negative dark green to a positive light green. This is a color change in positive territory.

Apple Inc

Apple also made a continuation gap to continue the positive trend. The dark green bars of the MACD highlighted the hesitation and the color changed back to light green, to signal positivity in the bull trend.

JSE Stocks

JSE All Shares

The JSE All Shares did not have enough time yesterday to react to the strong US move. Notice the hesitation dark green hesitation bar of the MACD. Hopefully we will see it turning back to light green today.

Shoprite Holdings Ltd

Shoprite is well on its way to test top resistance. If you want to use the MACD like the institutions, you only buy shares that has green MACD bars and when it change to red, you sell. We trust that you will enjoy the MACD change.