Midterms set to Fuel Rally?

TAGS: Technical analysis Nasdaq

Bloomberg:

Stocks rally for second day ahead of US midterms
Morgan Stanley’s Wilson says US midterms set to fuel stock rally

MarketWatch:

Stocks are trading exactly where they were 5 months ago, which mean they’re poised for more gains, one analyst says
Dow ends more than 400 points higher as investors await midterm elections, inflation data
Republicans have over 70% chance of winning Senate in midterm elections, betting markets say

China is hesitating today as there is no certainty yet that they are about to end Covid Zero, while the rest of global markets are continuing their rallies.

Global Indexes

S&P 500

At the previous attempt of the S&P 500 to break its 50-day moving average it could not close 4 days above it. That constitutes a false break. It is attempting another break!

DAX

The DAX is much more positive and is now approaching its last hurdle, its 200-day moving average.

HANG SENG

The HANG SENG is poised, still below its 50-day moving average, in anticipation of covid regulations. The rally was anticipating a lifting of regulations.

NYSE & NASDAQ Stocks

Halliburton Company

Halliburton is still moving strong and well on its way to test top resistance. Notice the MACD bars how well they keep you in the market.

Alphabet Inc

Big Tech shares took a lot of beating lately. Alphabet made a breakaway gap in very oversold territory with a Power Signal.

JSE Stocks

JSE All Shares

Believe it or not, but the JSE All Shares is also hesitating just below its 200-day moving average with a long-legged small body candle. If this moving average gets broken with some of the Global markets, expect some strong moves.

Mondi plc

Mondi hesitated at its 200-day moving average, that acted as resistance, with a J-curve. It is busy completing the J-curve and in doing so breaking its 200-day moving average again.