TAGS: Share value analysis
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News in Brief
Bloomberg:
- Stocks halt winning streak as bonds climb on JOLTS.
- JPMorgan warns stocks are in ‘Calm before the storm’.
- Bonds rise as factory data temper inflation angst.
MarketWatch:
- Wall Street is more pessimistic about stocks than in late 2008. This could be a reason to buy, BofA.
- Economy may be ‘moving from a virtuous cycle to a vicious cycle,’ Jamie Dimon says.
yahoo! finance:
- Asian equities decline after US rally hits wall.
We are in overbought territory, so profit taking is expected.
Global Indexes
S&P 500
The S&P 500 made an engulfing bear candle in overbought territory with Frontrunner breaking down and the MACD changing color.
DAX
The DAX also hit a wall at strong resistance in overbought territory.
HANG SENG
Similar for the HANG SENG with the only difference that the 50-day moving average is acting as resistance.
NYSE & NASDAQ Stocks
Caterpillar Inc
Caterpillar was one of the strong retrievers after the doji candle.
The Coca-Cola Co
Coca-Cola also made an engulfing bear candle in overbought territory.
JSE Stocks
JSE All Shares
We adjusted our negative trend line for the JSE All Shares to coincide with its 50-day moving average. This index is also in overbought territory and these resistances will most probably also come in play.
Gold Fields Ltd
Gold Fields is close to top resistance after a strong rally. We have divergence in place not confirming the latest price.
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.
