TAGS: Technical analysis
News in Brief
Bloomberg:
- Morgan Stanley’s Michael Wilson is a seller of stocks again
- Stocks hit by Fed-Hike Jitters as US yields surge
MarketWatch:
- The bear market rally is running out of steam, and its time to take profits, says Morgan Stanley’s Wilson
- S&P 500, Nasdaq post worst day in month after strong data fuels worry about Fed rate hike
The key negative resistances were too strong and profit taking stepped in.
Global Indexes
S&P 500
Profit taking stepped in and the S&P 500 closed below its EMA8 line. We will only believe that the bear rally is over if the index also breaks the positive trend line.
DAX
The DAX is continuing its sideways movement around its EMA8 line.
HANG SENG
The HANG SENG is taking a breather after yesterday’s strong move. It is also just below strong resistances above.
NYSE & NASDAQ Stocks
Deere Company
Deere Company also bounced down from top resistance like most shares.
Solaredge Technologies Inc
Solaredge Technologies wants to complete its J-Curve, but with all the negative sentiment it also did not close near its high of the day.
JSE Stocks
JSE All Share
The JSE All Share remained volatile with another inverted hammer candle.
Kumba Iron Ore Ltd
Kumba Iron Ore is making an attempt to break its 200-day moving average to complete its J-curve it is forming.
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.
