TAGS: Technical analysis
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News in Brief
Bloomberg:
- Wall Street on edge as traders await payrolls data.
MarketWatch:
- The stock market is building up to a major ‘buy’ signal.
- Opinion: Stock market is oversold – but investors don’t believe it yet.
- Exxon near $60 billion deal to buy Pioneer Natural Resources.
yahoo! finance:
- Stocks steady as all eyes turn to jobs report.
- Corporate America is ignoring Jay Powell and bingeing on debt.
- Stocks can’t go up until bank stocks stop going down.
The US stocks end lower ahead of jobs report today. We agree technically that we are in oversold territory.
Global Indexes
S&P 500
We now have 2 turning candles next to each other for the S&P 500 (piercing & doji candles) just above its 200 DMA (edge).
DAX
The DAX is hesitating in oversold territory, waiting to see what happens in the US.
HANG SENG
The HANG SENG made a breakaway gap this morning and is currently trading above its first resistance, its EMA8 line (orange). Its next resistance is its negative trend line.
NYSE & NASDAQ Stocks
Berkshire Hathaway Inc
Berkshire Hathaway confirmed the hammer turning candle with with a positive move. Frontrunner broke up to give a Power Signal with a MACD that changed color in oversold territory.
Visa Inc
Visa was building a launching platform on its 200 DMA and pressed the launching button. Notice where Frontrunner broke up and the MACD changed color in oversold territory.
JSE Stocks
JSE All Shares
The JSE All Shares made an engulfing bull candle in oversold territory with a MACD that changed color.
Satrix 40 Portfolio
The Satrix 40 confirmed its high wave candle with a positive move, a frontrunner break and a MACD changing color.
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.
