Markets made a strong comeback to attack first hurdle resistances
Bloomberg:
- Duetsche Bank strategists see risk of US stocks sinking 25%
- Prosus cuts Tencent stake in latest pullback from Chinese firms
MarketWatch:
- Yellen pledges to target high-earning Americans in bid to keep U.S. finances on ‘sound footing’
- Traditional TV ‘is marching to a distinct precipice,’ former Disney CEO Iger says
- U.S. stocks finish with first back-to-back gains in 2 weeks as Wall Street weighs Powell’s comments on more rate hikes
Global Indexes
S&P 500
The S&P 500 made another positive move to break its first resistance, the EMA8 line. It is just below the next resistance, the 50-day moving average (dark blue).
DAX
The DAX closed on its EMA8 line with a hammer candle, also below its 50day moving average.
HANG SENG
Even the HANG SENG is lifting its head today, but still below all resistances.
NYSE & NASDAQ Stocks
Bank of America Corp
Bank of America broke its short-term trend line with a 3.2% gain to move out of the oversold zone.
Albemarle Corporation
Albemarle Corporation was among the strong movers and is busy attacking top resistance. This one of our strong trend factor shares.
JSE Stocks
Palladium
With Platinum, Palladium is also making a strong move with its 6.1% gain.
Impala Platinum Holdings Limited
Impala Platinum broke the flag its was forming to the top. Notice that the MACD signal line is also breaking up.
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.
