Investors Cheer Cooling Inflation

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Bloomberg:

  • China stock traders are clinging to every sign of hope they see
  • Vietnam stocks tumble by most since April, extending rout
  • Dow Jones surge puts index within sight of Bull-market territory
  • Nasdaq 100 adds $700 billion in value as US inflation eases

MarketWatch:

  • Stocks surge and Treasury yields tumble as U.S. inflation rate cools in October
  • Jobless claims tick higher in latest week
  • All 30 Dow stocks rising, led by tech giants Salesforce, Microsoft and Apple
  • Dow scores 1200-point gain as stocks log biggest one-day advance since 2020 on signs inflation is softening

Election quickly forgotten as Markets rally with cooling inflation. When markets are so oversold one gets massive gains when bears want to close their positions, but there are no sellers left in the market!

Global Indexes

S&P 500

The S&P 500 broke its 50-day moving average and EMA8 lines properly this time round with a breakaway gap to break clean from the resistances.

DAX

The DAX also had time to respond to the inflation data to break its 200-day moving average decisively.

HANG SENG

Unbelievably even the HANG SENG is making a breakaway gap.

NYSE & NASDAQ Stocks

Caesars Entertainment Corp

Caesars Entertainment bounced on its positive trend line with a massive 17.8% breakaway gap. Notice that the MACD has turned light green again and never turned red since the turn.

NVIDIA Corporation

Similar situation for NVIDIA with its 14.3% gain. Even its Trend Factor turned positive.

JSE Stocks

JSE All Shares

After being negative for most of the day, the JSE All Shares also responded and in doing so broke its 200-day moving average.

Quilter Plc

The MACD of Quilter also stayed green during its sideways move. Wit its current gain it is touching its long term negative trend line.

Algomodel Strategies, 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.

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