TAGS: Technical analysis software.
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News in Brief
Bloomberg:
- China stocks see record monthly streak of foreign fund exodus.
- S&P 500 notches longest monthly slide since 2020.
MarketWatch:
- The stock market hinges on Fed Chair Jay Powell’s every word. Now, the presidential election could too.
- US fiscal deficit a ‘more serious problem than ever before,’ says Larry Summers.
- Opinion: AMD makes bold prediction for its AI chips – but it’s actually not so far-fetched.
- AMD’s revenue outlook comes in light, but company gives rosy AI forecast.
- Paycom’s stock plunges 32% as payroll company whiffs on earnings outlook.
yahoo! finance:
- Fed likely to hold rates at 22-year high.
- Asia stocks jump, yen rises on Japan FX chief’s warning.
- It may be time for the Magnificent seven to break up.
With the traditional October correction now behind us the markets are showing some gains globally.
Global Indexes
S&P 500
The S&P 500 made another positive move to close on its EMA8 line. The flathead candle indicate that we might see a break of this resistance today.
DAX
The DAX is also touching its EMA8 line with a positive move.
HANG SENG
At the time of writing the HANG SENG was the only Asia market that was still negative with the Nikkei taking the lead with a 2% gain.
NYSE & NASDAQ Stocks
Advanced Micro Devices Inc
AMD broke its short-term negative trend line and with the positive forecasts we will soon see attacks on the resistances above.
Caterpillar Inc
While we had lots of positive moves, Caterpillar was still extending its negative trend. It made a negative 6.7% gap, hopefully this might be an exhaustion gap.
JSE Stocks
JSE All Shares
During the choppy session in the US the JSE All Shares opted for a high wave indecision candle. This index was closed when the US finally moved positive.
Woolworths Holdings Ltd
After a strong move Woolworths reached its 50 and 200 DMA’s. Both averages are acting as resistances, but its W formation indicates that we might see a break of these averages.
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.
