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News in Brief
Bloomberg:
- Stocks rise as Banks sigh in relief; Bonds retreat.
- European stocks recover as banks bounce back from Friday slump.
MarketWatch:
- Google asks judge to dismiss Justice Department’s lawsuit claiming digital-ad monopoly.
- Apple COO sells $30 million in stock after shares gain 22% over first quarter.
- Disney begins layoffs of 7,000 this week in first of three phases.
- Recession looks less likely for U.S., economists say, but a ‘slag’ still lies ahead.
yahoo! finance:
- Stocks mixed, banks rise after SVB sale.
- A beat on deliveries could be the next ‘positive catalyst’ for Tesla stock.
Hopefully the volatility will settle after the sale of SVB.
Global Indexes
S&P 500
The S&P 500 is still trapped between all the resistance lines. A break up or down is needed for new direction.
DAX
The DAX is also hanging around with an uncertain doji just below its 50-day moving average.
HANG SENG
The HANG SENG reacted positive today, but also with an uncertain doji on its 200-day moving average.
NYSE & NASDAQ Stocks
Bank of America Corp
The sale of SVB brought some certainty back to the banking sector. Bank of America was one of the top gainers and did so with a breakaway gap. Notice that the turn came with divergence which signals a true turn technically for us.
Boeing Co
Boeing also made a breakaway gap on its sideway channel support.
JSE Stocks
JSE All Shares
The JSE All Shares closed positive with a Frontrunner moving positively and a MACD that is on the verge of turning positive.
Old Mutual
Old Mutual made an engulfing bull candle with a 3.4% gain. Notice where Frontrunner broke up with the MACD changing color in oversold territory.
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.
