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News in Brief
Bloomberg:
- Treasury yields climb on bets for June Fed hike.
MarketWatch:
- Lael Brainard, Jared Bernstein named by Biden to top White House economics roles.
- Fed’s Harker backs raising interest rates above 5%.
- Top inflation gauge followed by Fed chief Powell looks rosier in thorny CPI report.
- Berkshire Hathaway boosted its Apple stake last quarter.
Although some of the indexes hardly made any movement, some stocks remain on the move while others are correcting to give a nett zero movement to the index.
Global Indexes
S&P 500
The S&P 500 closed above its EMA8 line with an uncertain long-legged small body candle. Zero movement.
DAX
The DAX also closed above its EMA8 line with an uncertain inverted hammer candle. Small negative movement.
HANG SENG
The HANG SENG is extending its negative trend. Notice that as it nears its 50-day moving average, it is moving into oversold territory.
NYSE & NASDAQ Stocks
Boeing Co
Boeing remains a favorite amongst investors since October 2022. It is currently busy breaking top resistance after a 3 week sideways movement.
NVIDIA Corporation
Another share on the move is NVIDIA. After trend candles turned yellow, it just bounced with a 5.4% gain. Notice that the MACD never turned red. We adjusted our tight trend line slightly to include the latest bottom.
JSE Stocks
JSE All Shares
The JSE All Shares joined uncertain global indexes with an uncertain doji, with hardly any movement.
Pick n Pay Stores Ltd
After a steep correction Pick n Pay is lifting its head again. After a long-legged doji it broke my tight 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.
