TAGS: Software for stock analysis
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News in Brief
Bloomberg:
- China earnings to revive stocks, Vontobel’s $4 billion fund says.
- Bruised banks fuel short-covering rally in stocks.
MarketWatch:
- US markets fear recession and see interest rate cuts ahead as Fed loan survey looms.
- Unheuser-Bush InBev CEO says beer shouldn’t be focus of debate as Bud Light sales deteriorate.
- SVB and First Republic failures are just the start of a lengthy bank crisis – if you believe 800 years of history.
- The S&P 500 will not break above its range soon, says Goldman Sachs.
- Stock Market today: Dow ends more than 500 points higher after April jobs report, Apple earnings.
yahoo! finance:
- Jobs report posts stunning beat, with 253,000 jobs added.
- Media giants struggle with ad slowdown amid writers’ strike.
- Bank turmoil will have ‘colateral damage in oil’: analyst.
Markets had a short-covering rally when traders had to cover their short transactions. We however doubt that top resistance will be broken soon.
Global Indexes
S&P 500
The S&P 500 is in a sideways channel that needs to be broken to have a new conclusive direction.
DAX
The DAX is making an attempt to break its top resistance.
HANG SENG
The HANG SENG is also unsure about direction with a doji on its 50-day moving average on Friday and a small body candle today just below its long term trend line.
NYSE & NASDAQ Stocks
Zions Bancorp
The bank rally comes from a very low base giving high percentages gain. Zions Bankcorp made a 19% gain causing all traders with short positions to cover their positions. With no sellers around anymore, you get high gains.
Apple Inc
The results of Apple launched it with a gap. It is approaching its top resistance with a strong rally.
JSE Stocks
JSE All Shares
Its 50-day moving average is still acting as support for the JSE All Shares.
Sasol Ltd
Sasol bounced on bottom support with divergence in place. A potential double bottom.
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.
