TAGS: Market analysis South Africa
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News in Brief
Bloomberg:
- Asia shares pare gains as China data disappoint.
- Morgan Stanley’s Wilson sees stock swings on debt ceiling debate.
- Goldman sees more Japan upside as Topix approaches 33-year high.
MarketWatch:
- 14 million mortgages were refinanced during ‘pandemic boom.’ That makes life very difficult for home buyers.
- Wells Fargo settles shareholders lawsuit for $1 billion.
- Warren Buffett’s Berkshire Hathaway switches stakes in two banks, and the stocks head in opposite directions.
- ‘The Fed is problem No. 1 in American finance,’ right now, says prominent market pundit.
- The ‘end of the runway’ is nearing for lofty tech and soggy banks. Get ready, says this strategist.
yahoo! finance:
- Buffett sells stakes in two banks, raises Bank of America bet.
- Trending tickers: Berkshire, Capital One, Beam, Tesla.
- Biden and McCarthy to resume debt-ceiling talks on Tuesday.
Analysts predict that the stock market will struggle to rally until debt ceiling and bank woes are in rearview mirror.
Artificial intelligence is going to take away everyone’s jobs as the humble truth is that there’s nothing humans can do that AI can’t do more efficiently!
Global Indexes
S&P 500
The S&P 500 has now made 6 uncertain about direction candles next to each other to continue its sideways movement.
DAX
Similar for the DAX.
HANG SENG
The HANG SENG made an engulfing bull candle yesterday on its bottom support of the large triangle. Today it is trading on the top resistance. One of these resistance will be broken soon as we are in the narrow corner of the triangle.
NYSE & NASDAQ Stocks
Bank of America Corp
Back to my old favorite Bank of America. It made an engulfing bull candle on support after Buffett increased his stake in this share. We have divergence in place for a turn. It has also formed a large triangle that is not broken yet.
Caterpillar Inc
Caterpillar also painted itself into a corner of its large triangle. A break is imminent. Notice how Frontrunner also formed a smaller triangle.
JSE Stocks
JSE All Shares
The JSE All Shares also followed the global uncertainty with a doji.
Sasol Ltd
Sasol made a hammer candle after its engulfing bull candle, also inside its triangle. Frontrunner predicts that the break will be to the top?
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.
