TAGS: Market analysis South Africa
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News in Brief
Bloomberg:
- Debt deadlock spurs late-day slide in US stocks.
- Investors most pessimistic so far this year, BofA survey shows.
MarketWatch:
- Opinion: There’s still time to ‘sell in May and go away’ if higher inflation sticks around.
- Pfizer borrows $31 billion in mega bond deal as debt issuance picks up ahead of debt-ceiling deadline.
- Ex-Apple engineer charged with stealing autonomous-driving tech, fleeing to China.
- Lots of office workers want to work from home. Elon Musk thinks it’s ‘morally wrong’.
yahoo! finance:
- Warren calls for insider-trading probe of former SVB CEO.
We will experience volatile markets until the debt ceiling is resolved in the US.
Global Indexes
S&P 500
Although the S&P 500 dipped below its EMA8 line, it remains in its sideways trend channel.
DAX
The DAX made another uncertain doji closing just above its EMA8 line, also inside its sideways channel.
HANG SENG
The HANG SENG is currently trading with an uncertain doji, also still inside its large triangle.
NYSE & NASDAQ Stocks
Bank of America Corp
We are staying with Bank of America to see if we get a break of its triangle. The debt-ceiling crisis made it ease back, still above support.
Caterpillar Inc
The debt-ceiling deadlock made Caterpillar break our support downwards. Frontrunner is also still trending down.
JSE Stocks
JSE All Shares
The JSE All Shares is just as uncertain as the global markets, this time with an inverted hammer candle.
Sasol Ltd
Sasol bounced down from the top of its triangle. We will stay with these shares to see whether we get a break, up or down, out of the strong resistances.
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.
