TAGS: What are the best investments in South Africa
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News in Brief
Bloomberg:
- Morgan Stanley strategist say stocks ignore Fed, earnings reality.
- Stocks close higher as wage survey eases CPI fears.
- Asian stocks rise ahead of CPI.
MarketWatch:
- Stocks could suffer if U.S. inflation cools less rapidly as once thought, Deutche Bank warns.
- ‘A different animal’: The bear market is ‘over’, but that doesn’t unleash bulls to send stocks on a 2023 tear, according to Wells Fargo.
- Dow rises more than 370 points as stocks end sharply higher ahead of inflation-data ‘wrecking ball’.
Analysts only start to believe now that the bear market is over while trend analysts showed the turn weeks earlier.
Global Indexes
S&P 500
The S&P 500 crossed its EMA8 line to the positive side to extend its positive trend that started 6 weeks ago.
DAX
The DAX also closed above its EMA8 line to maintain a slow rising trend.
HANG SENG
Although its low is higher than the previous day, the HANG SENG’s remain in its negative trend.
NYSE & NASDAQ Stocks
Tesla Inc
The most value exchange of hands on the S&P 500 was Tesla. It broke my trend line, although trend candles and the MACD are still green.
Microsoft Corporation
The second biggest value exchange on the S&P 500 Microsoft. It did so with another gap and notice that its trend went into second gear.
JSE Stocks
JSE All Shares
The JSE All Shares remains uncertain about which side of its flag it is going to break. We had a bounce on the bottom side to continue the sideways movement.
ArcelorMittal South Africa Ltd
ArcelorMittal made a strong bounce off its launching platform with divergence. We believe that only divergence can show a true bottom. Notice that its MACD also turned green.
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.
