TAGS: Technical analysis software.
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News in Brief
Bloomberg:
- S&P 500 has best week in 2023 as bond yields slide.
- Bigest cross-asset rally this year takes Wall Street by storm.
MarketWatch:
- Dow scores best week since October 2022 as stocks rise after soft jobs report.
- Israel resists US pressure to pause war to allow more aid to Gaza, wants hostages back first.
- Apple shows its ‘massive battleship’ is getting tougher to maneuver.
yahoo! finance:
- Stocks look to build on best week in a year.
- Stocks jump to cap best week of 2023.
- Jobs report helps make the case for end to Fed campaign.
- Strikes have cost economy over 75,000 jobs.
Stocks had the best week of 2023, closing at critical resistances. All indications are that we will continue the rally past these resistances as Asia stocks are speeding ahead today. Predictions are that the new AI is 62 times smarter than Einstein?
Global Indexes
S&P 500
The S&P 500 made another gap to close just above its 50 DMA. We will only know today whether this is an exhaustion or continuation gap as we start to move into overbought territory. Its critical resistance will be at its long-term negative trend line above.
DAX
The DAX made an uncertain high-wave candle, still below its 50 DMA and negative trend line above.
HANG SENG
After the HANG SENG closed just below its 50 DMA on Friday and negative trend line, it made a breakaway gap today to trade above these resistances.
NYSE & NASDAQ Stocks
Apple Inc
The poor forecasts of Apple made it stall at its negative trend line and closed on its 50 DMA.
C3 ai Inc
After creating a strong support launching platform AI finally ignited and launched to break its 50 and 200 DMA’s.
JSE Stocks
JSE All Shares
Similar to many stocks and indexes the JSE All Shares also closed at critical resistances. A break today of resistances will see some more upside potential.
Kumba Iron Ore Ltd
Kumba Iron Ore is not bothered about resistances and smashed past its negative trend line approaching its R 550 resistance. It is still way below its high of R 787.
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.