TAGS: Which technical analysis software is best
Bloomberg:
- European stocks gain as energy shares rally on oil, yields drop
- Morgan Stanley’s Wilson says Fed pivot won’t end profit pain
- China property stocks, bonds rally after report of $85 billion lifeline
MarketWatch:
- Stock Market strategist says the coming recession could be the biggest ever. ‘I recommend prayer.’
- ‘We are in deep trouble’: Billionaire investor Druckenmiller believes Fed’s monetary tightening will push the economy into recession in 2023
We are at a strong bounce again, but before the negative trend line or EMA8 lines are not broken, it remains a bounce in a bear market.
Global Indexes
S&P 500
The S&P 500 made a strong bounce in oversold territory. Notice the abc correction. The index is touching the EMA8 line.
DAX
The bounce of the DAX closed just below its EMA8 resistance. The tight trend line is broken.
HANG SENG
The HANG SENG closed with another small body candle yesterday.
NIKKEI 225
The Nikkei 225 smashed its EMA8 line this morning with a large breakaway gap. This is happening in oversold territory.
NYSE & NASDAQ Stocks
Nucor Corporation
Nucor Corporation started moving positively 5 days ago. These shares were so oversold that a bounce was imminent. Notice where the MACD bars changed color.
Deere Company
Deere Company is touching the top resistance of its flag again. Will we see a break this time round? When I look at Frontrunner, the odds are good that we can see a break.
JSE Stocks
JSE All Share
The bounce of the JSE All Share broke its negative trend line. Notice where the MACD turned light red and Frontrunner broke up.
Pick n Pay Stores Limited
Pick n Pay Stores made a strong bounce after the long-legged doji candle.
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.
