Markets took a Breather

Bloomberg:

Tech takes wind out of stocks as bond yield climb
Disney+ raises streaming price by 38%, offers plans with ads

MarketWatch:

Are Nasdaq stocks in a bull market? A history of head fakes says slow your roll
This 20% Nasdaq gain doesn’t mean we’re in a new bull market
U.S. stocks end mixed as rally tied to cooler inflation takes breather
Apple asks suppliers to make at least as many new iPhones as they did last year

It was expected that markets would take a breather after a very strong previous day.

Global Indexes

S&P 500

The S&P 500 took a breather after the strong previous day. Notice that it is approaching its 200 day moving average and long term negative trend line. These two lines are nearly on top of each other and will be a strong resistance.

DAX

The DAX also took a breather after the engulfing bull candle.

HANG SENG

The Harami-doji I showed yesterday for the HANG SENG turned out to end with a bull candle at the end of the day that broke its EMA8 and negative trend lines. It is also taking a breather after this this big effort.

NYSE & NASDAQ Stocks

EOG Resources Inc

Resources had a strong day in the US and EOG Resources made a continuation gap with its 4.2% gain. The breakaway gap was when the negative trend line was broken. Although they say the MACD is a lagging indicator, it gave pretty good signals for this share.

Adobe Systems Inc

One of the institutions has invested heavily in Adobe systems for the long term. Its trend factor is very clos to turning positive. I also marked the last 4 MACD signals on the chart.

JSE Stocks

JSE All Shares

The reaction on the US move came yesterday for the JSE All Shares. If it continues to follow the US today, it should also take a breather.

MTN Group Ltd

It was MTN Group that took the honors with its 9% gain. Notice where the MACD turned green with a Frontrunner divergence. When signals work together, it is magic.