TAGS: Technical analysis
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News in Brief
Bloomberg:
- Stocks rise after US Government shutdown averted.
- Stock optimism fizzles as quarterly losses pile up.
- Tech stocks rebound, Treasury yields turn lower.
MarketWatch:
- US stock futures rise after government shutdown averted.
- McCarthy sticks to script as government shutdown on Sunday looks unavoidable. (Now Averted)
- Investors are pouring money back into global stocks following biggest outflow of the year.
yahoo! finance:
- ‘Seinfeld’ shutdown comes at terrible time for US economy.
- Fed’s top inflation metric shows big slowdown.
Stocks gave up gains as possible government shutdown loomed. This was averted late on Sunday and futures started rising.
Global Indexes
S&P 500
The S&P 500 gave up all of its gains by the end of the day. Notice that the EMA8 line acted as resistance.
DAX
The DAX had a similar volatile day. It started with a breakaway gap and then ended with an inverted hammer candle to close just below its EMA8 line.
HANG SENG
The HANG SENG did manage to close just above its EMA8 and negative trend lines on Friday. This market is closed today with the other Asia markets positive.
NYSE & NASDAQ Stocks
Nike Inc
Nike has now completed its correction and took off with a +6.7% breakaway gap. It also did not close near the high of the day. Notice how divergence signaled the turn (purple lines).
Micron Technology Inc
Micron Technology made a bounce on its long-term positive trend line. We will have to see if it can maintain this momentum.
JSE Stocks
JSE All Shares
The JSE All Shares also made a volatile candle, similar to the US markets, and closed with an inverted hammer candle.
Spar Group Ltd
Frontrunner is giving a warning that more highs are to come for Spar. Hopefully we might see a break of its 200 DMA and negative trend lines.
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.
