TAGS: Software for stock market analysis
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News in Brief
Bloomberg:
- China stocks too cheap to ignore for JPMorgan asset, Invesco.
- Cathie Wood boosts Coinbase stake as SEC Crypto crackdown widens.
MarketWatch:
- Gold prices end at lowest level in more than a week as traders gauge Fed’s rate path.
- High inflation to take longer to tame and keep Fed on hot seat, Wall Street pros say.
yahoo! finance:
- Cathie Wood’s ARK snaps up Coinbase stock amid SEC suit.
- Affirm soars on new deal with Amazon pay.
Global Markets were mostly negative with profit taking stepping in at key resistances.
Global Indexes
S&P 500
Profit taking stepped in at the S&P 500‘s short-term resistance. The current candle formation has all the makings of a rising three formation, to be confirmed by its next move.
DAX
Some profit taking for the DAX too. It did manage to still close above its EMA8 line.
HANG SENG
The HANG SENG is all hesitant at its 200-day moving average. If JPMorgan’s assessment is correct, all the resistances that is close above should be smashed soon.
NYSE & NASDAQ Stocks
Caterpillar Inc
Caterpillar only hesitated slightly before breaking its long-term negative line with a 14% gain for the week.
Adobe Systems Incorporated
Adobe was in overbought territory against a previous resistance when Frontrunner broke down. It then made two turning doji candles with a MACD that changed color. All this is now followed by an engulfing bear candle.
JSE Stocks
JSE All Shares
Similar to the S&P 500, the JSE All Shares has the makings of a possible rising three formation
Shoprite Holdings Ltd
Shoprite joined Pick n Pay strong positive moves to break its negative trend line and 50-day moving average in one move.
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.
