TAGS: Technical analysis software
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News in Brief
Bloomberg:
- BofA strategists prefer global stocks to tech-heavy US market.
- Soaring chip stock valuations are defying industry gloom.
- Stocks eke out weekly gain as banking fears ease.
- Fuel that powers the global economy is flashing recession signs.
MarketWatch:
- Stock market is still at risk after upbeat earnings from US big banks.
- Stocks are down today because traders no longer think the Fed interest-rate hikes are ending soon.
yahoo! finance:
- JPMorgan surges after earnings.
- Big banks kick off earnings season with a bang.
- Former Home Depot CEO issues grim warning over US bankruptcies: ‘Its’s different than anything I’ve seen’.
Five Wall Street veterans that have 230 years of combined experience are bearish on stocks. Do not forget that May is around the corner!
Global Indexes
S&P 500
The S&P 500 made an indecision high wave candle at its current level. High wave candlesticks portray situations where the market is having difficulty coming to a consensus on a value.
DAX
Although the DAX edged higher, it did so with a small body candle that also reflects indecision.
HANG SENG
The HANG SENG is also struggling with an uncertain doji and small body candle just above its 50-day moving average and EMA8 lines.
NYSE & NASDAQ Stocks
JPMorgan Chase Co
JPMorgan Chase took the honors with its 7.6% breakaway gap after good results. Notice how Frontrunner was trending up while the price was moving sideways.
Bank of America Corp
We had a similar situation at Bank of America. Notice that its breakaway gap broke its sideways movement too.
JSE Stocks
JSE All Shares
The JSE All Shares is still trending higher with the only warning that we are in overbought territory.
Remgro Ltd
Remgro has been trending strong the past two weeks. As it is nearing strong resistance it is also moving into extreme overbought 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.
