TAGS: Software for stock market analysis
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News in Brief
Bloomberg:
- Asia stocks dragged lower by China’s factory data.
- Stock rally loses steam after AI-fueled euphoria.
- Miserable May is dashing hopes for a rebound in Chinese stocks.
MarketWatch:
- S&P 500 eyes 10-month high after weekend debt-ceiling breakthrough.
- Opinion: Technically speaking, a new bull market started last October. Buy on weakness.
- Warren Buffet’s Berkshire Hathaway boosts stake in Occidental Petroleum to about 25%.
yahoo! finance:
- Debt ceiling bill to cut $1.5t from deficit over decade.
- Stocks rise with debt deal facing next hurdle.
- Apple to invest in India: Can the country overtake China in manufacturing.
The debt-ceiling deal now reaches the hard part, and the next hurdle is to get Congress approval.
Global Indexes
S&P 500
The break of its 4200 for the S&P 500 is not very convincing as the index eased back from its high of the day to close with zero gain.
DAX
The DAX also closed near its low of the day below its EMA8 line in the sideways channel.
HANG SENG
China’s poor manufacturing data is dragging the HANG SENG lower. Frontrunner did predict more lows to come. Notice where the MACD turned red, not a signal to ignore!
NYSE & NASDAQ Stocks
Occidental Petroleum Corporation
Occidental Petroleum is correcting back to long term support. Its 50-day moving average acted as resistance. The timing will be best if we get a bounce on support below.
C3 Ai Inc
Our 3rd AI share, after NVDA and AMD, is C3 Ai. After this share bounced on its 200-day moving average it only knows one direction. It broke top resistance and blasted off with another 33.4% gain yesterday.
JSE Stocks
JSE All Shares
Its 50-day moving average (dark blue) has become a strong resistance for the JSE All Shares. The index closed at its low of the day with Frontrunner predicting further lows.
Tiger Brands Ltd
Load shedding is taking its toll on businesses as Tiger Brands announced a 500% increase of its load shedding bill. This caused its price to make a breakaway gap downwards and with it dragged similar businesses down. Frontrunner is predicting more pain for this share.
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.
