TAGS: Technical analysis software
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News in Brief
Bloomberg:
- Tech stocks slump extends ahead of inflation data.
- Wells Fargo’s Harvey warns S&P 500 is set for 10% correction.
- Bank of America clients withdraw $2.3 billion from US stocks all sizes.
MarketWatch:
- Bets against US stocks swell to highest level since 2011. History shows that’s actually good news for markets.
- Fed should get interest rates above 5% and sit there, Harker says.
yahoo! finance:
- Inflation data will shatter the stock market calm, Goldman Partner warns.
- Warren Buffets’s Berkshire Hathaway has boosted its bets on 5 Japanese titans.
Markets are trending sideways in anticipation of US inflation data.
Global Indexes
S&P 500
The S&P 500 closed unchanged in anticipation of inflation data.
DAX
The DAX made an attempt to break top resistance, but closed the day just below it.
HANG SENG
The attempt of the HANG SENG to break its 50-day moving average also failed.
NYSE & NASDAQ Stocks
Microsoft Corporation
Microsoft started a correction after the long-legged doji. Notice that we have divergence in place.
Bank of America Corp
Although Bank of America is showing positive signs after the large correction, we see its current move sideways until $29 resistance is broken.
JSE Stocks
JSE All Shares
The JSE All Shares is also attempting to break strong resistance. While we are in overbought territory, we will have to see if it succeeds.
Northam Platinum Holdings Ltd
The strong move of Northam Platinum is attempting to break its 50-day moving average resistance. It is touching its sideways channel resistance at R160.
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.
