TAGS: Share value analysis
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News in Brief
Bloomberg:
- Tesla is considering a bid for Battery Metals Miner.
- Wall Street is baffled by the Stock Market.
- BofA says Hard Landing to hit stocks in second half.
MarketWatch:
- Meme-stock era record falls: Retail traders dumped $1.5 billion a day into US equities in January.
- Dow ends higher, S&P 500 suffers weekly loss as traders bet on more Fed rate hikes.
- Our food may be giving us Alzheimer’s disease, new research says. [Be careful what you eat!]
BAFFLED: Goldman Sachs strategist warns of risks to 60/40 portfolios and yet investors have been betting on a Goldilocks scenario.
Global Indexes
DOW
Nothing to do with golf, we show the perfect wedge the DOW is busy forming. Any wedge usually has 5 legs, and a break out of the wedge will be the new direction. Notice how the Dow managed to close above its 50-day moving average (dark blue) for the past 3 weeks. Patience is needed to determine what happens next!
S&P 500
Although the S&P 500 closes negative, it did so with a gap and a dragonfly doji. It can be an exhaustion gap, and a dragonfly doji is very bullish. We will have to see today if this is confirmed.
DAX
Although the DAX negative, it still managed to close above its EMA8 line.
HANG SENG
The HANG SENG closed on its 50-day moving average on Friday and is very unsure of what happens next as it is currently trading with a small body candle on it.
NYSE & NASDAQ Stocks
Deere Company
After correcting to its $403 level, Deere Company made a breakaway gap to advance 7.5%.
Apple Inc
Apple is very uncertain what happens next? it has an inverted hammer and hammer next to each other just below the top resistance. These candles reflect indecision as neither the bulls nor the bears could take control during the session.
JSE Stocks
JSE All Shares
Another negative day for the JSE All Shares inside its flag.
Kumba Iron Ore Ltd
Kumba Iron Ore is just as uncertain on what happens next with a long-legged doji against top resistance. This resistance is getting stronger with 6 touches.
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.
