TAGS: Software for stock analysis
Bloomberg:
- Fund titans are buying China stocks on bets worst is now over
- Stocks drop for a second day as Fed Hawks circle
MarketWatch:
- Twitter shuts offices amid worker exodus as many rejects Elon Musk’s ultimatum
- NYSE strategist says market’s reaction to Bullard’s 5%-7% rate estimates ‘was a bit overblown’
- Fed must keep raising rates until it is certain inflation has stopped climbing, Kashkari says
The Fed was the major cause of the latest correction, but indications are that it only lasted 2 days with Asia markets and US futures positive.
Global Indexes
S&P 500
The S&P 500 closed with a candle sitting on its EMA8 line with a bounce on the line.
DAX
The DAX is moving more sideways than correcting. This helps to ease the extreme overbought situation.
HANG SENG
The HANG SENG is busy forming a ‘Rising Three Method’ formation. If this formation plays out, we will actually see a strong positive move next.
NYSE & NASDAQ Stocks
Apple Inc
Apple is ignoring the correction and starting to attempt a break of its negative trend line. Notice that the MACD has not even changed color during the volatility of the past 3 days.
Deere Company
Deere Company bounced on its positive trend line after moving sideways with an engulfing bull candle. Notice that the MACD never turned red.
JSE Stocks
JSE All Shares
As was expected, the JSE All Shares also followed global markets lower.
Woolworths Holdings Ltd
The market appreciated the results of Woolworths, and it is building further on its positive trend. Notice where the MACD turned green. This indicator is shown in Spotlight when color changes take place.
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.
