TAGS: Technical analysis
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News in Brief
Bloomberg:
- Only a stock crash can rescue the bond market.
- US stocks buoyed by big tech gains as yields slide.
MarketWatch:
- Tesla stock is surging. Thank the EV bears.
- US stock dividends bounce back in third quarter.
- The ‘Great Resignation’ is over – and tech workers are staying at their jobs.
yahoo! finance:
- Nasdaq jumps, stocks recover as bond selloff takes a break.
- Asia equities gain following US stock, bond rally.
The rally started just above the 200 DMA critical support.
Global Indexes
S&P 500
The S&P 500 made a piercing candle above its 200 DMA with divergence in place. We only believe in a true turn when divergence is in place.
DAX
The DAX also started a bounce with unconfirmed divergence in place (puple lines).
HANG SENG
The HANG SENG is also following the US, but still in all negative territory.
NYSE & NASDAQ Stocks
Tesla Inc
After hesitating 3 days just below its 50 DMA, Tesla broke it with a 5.9% gain.
Advance Micro Devices Inc
Advance Micro Devices was on the heels of Tesla with its 4% gain. Will we see a break of the wedge it is forming this time round? Notice that its MACD has turned green.
JSE Stocks
JSE All Shares
The bounce in the US came too late to influence the JSE All Shares. This index will most probably follow global markets higher today out of oversold territory.
Ninety One Ltd
Ninety One mad an engulfing bull candle on critical support in oversold territory.
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.
