TAGS: Technical analysis software.
Free Subscription: Subscription is necessary to receive an email when market reviews are posted.
News in Brief
Bloomberg:
- Asia stocks mixed, oil extends fall on weak demand.
- S&P defies Fed ‘Pushback’ in longest win since ’21.
MarketWatch:
- Rivian raises production guidance for the year, ends exclusivity deal with Amazon for its vans.
- Virgin Galactic to cut staff to focus on lower-cost Delta spacecraft.
- US oil prices settle below $80 a barrel as China data spotlights demand prospects.
yahoo! finance:
- Credit card debt hits new record as millennials struggle most.
- Fed officials want more time to assess rising yields.
- Warren Buffett had a good, bad, and ugly earnings report with Berkshire Hathaway.
The US extended its winning streak while investors cling to Fed hike hopes.
Global Indexes
S&P 500
The S&P 500 extended its winning streak moving into extreme overbought territory as it approaches its negative trend line.
DAX
The DAX is trending sideways, also in overbought territory.
HANG SENG
The HANG SENG closed its open window (gap) of two days earlier and is currently trading uncertain just below its 50 DMA.
NYSE & NASDAQ Stocks
Adobe Systems Inc
After hesitating with a doji below strong top resistance, Adobe broke it this time round to continue its rally.
salesforce.com Inc
After hesitating below its 50 DMA salesforce.com broke it with another gap (continuation gap?).
JSE Stocks
JSE All Shares
The JSE All Shares got scared and profit taking saw the index loose 2.3% to close well below its 50 DMA again.
Exxaro Resources Ltd
With a level 3 divergence in place Exxaro first made a piercing candle then the 6.7% drop followed.
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.
