TAGS: Technical analysis software.
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News in Brief
Bloomberg:
- Powell hints Fed is done with hikes in pivot cheered by markets.
- Wall Street sentiment indicator shows S&P 500 gaining 16% over next year.
MarketWatch:
- Powell adds fuel to the talk that the Fed is done hiking rates.
- Stocks rallied because Fed’s Powell didn’t ‘nudge’ markets harder on potential rate hike.
- Biden calls for humanitarian ‘pause’ in Israel-Hamas war.
- PayPal earnings beat expectations, but company lowers target for margin growth.
- Ron Baron says Tesla’s valuation can hit $4 trillion, but ‘SpaceX has a chance to be even bigger’.
yahoo! finance:
- Fed holds interest rates at highest level since 2001.
- Stocks rally, tech surges as Fed holds steady.
All positive on Global Markets with a more positive outlook.
Global Indexes
S&P 500
The S&P 500 broke its EMA8 line to close just below its 200 DMA. Futures indicate that this will also be broken today.
DAX
The DAX also broke its EMA8 line with a long distance to go before it reaches next resistances.
HANG SENG
Even the HANG SENG broke its EMA8 line with a breakaway gap. Notice our new divergence Power signal we are busy working on for inclusion into Algomodel Signals Pro. Divergence is the only true signal for bottoms and tops.
NYSE & NASDAQ Stocks
Advanced Micro Devices Inc
In the previous post we showed that AMD broke its short-term negative trend line. It then took off with a 9.7% gain to smash all resistances.
NVIDIA Corporation
The turning hammer candle of NVIDIA was confirmed with a positive move and Frontrunner breaking up. Do you notice the abc correction? (a=Sept 15, b=Oct 16 & C=hammer candle)
JSE Stocks
JSE All Shares
The JSE All Shares was still waiting for the US, also with a hammer candle.
AngloGold Ashanti Ltd
News in the US is not good for gold. AngloGold made a -7.4% breakaway gap to close in all negative territory. Notice where the MACD turned red.
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.
