TAGS: Stock analysis for beginners.
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News in Brief
Bloomberg:
- Stocks, Bonds Fall as CPI Boosts Fed-Hike Wagers.
MarketWatch:
- Stock-market moves show bond traders are still in charge as yields renew rise.
- US may tighten restrictions on sales of AI chips to China.
yahoo! finance:
- Stocks break win streak; yields rise as inflation holds steady.
- Fed can stay ‘patient’ after inflation data.
- Asian stocks face pressure from soaring US yield.
The latest inflation data stalled markets.
Global Indexes
S&P 500
The S&P 500 stalled and even touched its EMA8 line before recovering some of the selloff.
DAX
The DAX also corrected to close near the low of the day.
HANG SENG
Its 50 DMA acted as resistance for the HANG SENG that reversed the gap of the previous day with a downwards breakaway gap.
NYSE & NASDAQ Stocks
Adobe Systems Incorporated
Although Adobe closed higher, it made an inverted hammer candle against top resistance.
Caterpillar Inc
Caterpillar made an engulfing bear candle against its negative trend line that is still in play, still below its 50 DMA.
JSE Stocks
JSE All Shares
After the doji the JSE All Shares tested its 50 DMA resistance and then also closed near the low of the day.
Northam Platinum Holdings Ltd
Northam Platinum tested its negative trend and 50 DMA lines with an inverted hammer candle and gap. Most probably an exhaustion gap due to the turning candle.
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.
