Bulls took Control

TAGS: Software for stock market analysis

Free Subscription: Subscription is necessary to receive an email when market reviews are posted.

News in Brief

Bloomberg:

  • Tesla comments spur plunge in China rare-earth miner shares.
  • US Stocks snap two days of losses; Yields rise.

MarketWatch:

  • Inflation data pushed the 10-year Treasury yield above 4%. How much higher can interest rates go?
  • Fed’s Bostic says he’s firmly in quarter-point rate rise camp.

Just when it looked as if the Bears were gaining the upper hand, the Bulls took control on the US markets.

Global Indexes

S&P 500

The S&P 500 bounced on its 200-day moving average to close on its 50-day moving average making an engulfing bull candle. We are not out of the woods yet as a break to the top must confirm the candle.

DAX

The DAX opened below its support, but at the end of the day managed to close above it in the narrow sideways resistances.

HANG SENG

After a profit taking day, the HANG SENG took the road north again with its 50-day resistance just above current trading.

NYSE & NASDAQ Stocks

salesforce.com Inc

salesforce.com took the honors of the day with its 11.5% breakaway gap. Notice how the 200-day moving average acted as support.

Bio-Rad Laboratories Inc

A large engulfing bull candle for Bio-Rad Laboratories broke its flag to put it in a positive trend factor again. Notice that the MACD also turned green.

JSE Stocks

JSE All Shares

The US action came too late for the JSE All Shares to react on. This index closed negatively with it still hanging around its 50-day moving average.

Anglo American PLC

Anglo American made a breakaway gap on its 200-day moving average that acted as support. It also had a negative day after the gap like the index.

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.

Algomodel Signals
Algomodel Signals
Algomodel Signals Pro
Algomodel Signals Pro

Leave a Comment

Your email address will not be published. Required fields are marked *