TAGS: Technical analysis
News in Brief
Bloomberg:
- Turmoil grips China markets as covid protests cloud reopening
- Stagflation will rule 2023, keeping stocks in peril
- China stocks defy US gloom on optimism over earnings, reopening Today
MarketWatch:
- A recession akin to 1969-1970 awaits U.S. next year, economist warns
- ‘A rail shutdown would devastate our economy’: Biden urges Congress to head off potential strike
- Elon Musk claims Apple is threatening to remove Twitter from App Store
The markets were dominated by the China protests yesterday at reopening. At today’s opening the Hang Seng took off like a rocket as they defy US gloom.
Global Indexes
S&P 500
The S&P 500 closed lower and is between its 200-day moving average above and the positive trend line below.
DAX
The DAX also took a breather and closed on its EMA8 line. Notice that it is not in overbought territory anymore.
HANG SENG
After bouncing its 50-day moving average the HANG SENG took off with a breakaway gap to trade above its EMA8 line today.
NYSE & NASDAQ Stocks
Tesla Inc
With an all-negative day on the US markets, Tesla also hesitated at its negative trend line with a 0% gain. Notice that we have a green MACD bar.
Boeing Co
After its recent strong gains, Boeing is showing resistance at its long-term trend line with divergence in place. We also have a red MACD bar.
JSE Stocks
JSE All Shares
The JSE All Shares is not giving up attempting to break resistance. It touched its short-term resistance the 6th time with a long-legged candle.
Brent Crude
The Brent Crude correction gave a welcome relieve but has now reached oversold territory close to support.
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.
