TAGS: Technical analysis software.
Free Subscription: Subscription is necessary to receive an email when market reviews are posted.
News in Brief
Bloomberg:
- Asia markets under pressure after treasuries slide.
- Two-year yield tops 5% on Powell’s ‘Sterner’ tone.
MarketWatch:
- Powell says Fed is wary of ‘head fakes’ from inflation.
- Fed’s Paese says more data on inflation is needed before bank weighs another rate hike.
- Opinion: After a rally for the record books, the S&P 500 now is looking for new direction.
yahoo! finance:
- Disney reported strong fiscal Q4 earnings and raised its cost-cutting target. Wall street is taking notice.
- Stocks slide, snapping longest win streak since 2021.
The US snapped its winning streak putting Asia markets under pressure.
Global Indexes
S&P 500
After the doji the S&P 500 broke its positive trend line to close just above its 50 DMA.
DAX
The DAX was still extending its winning streak to close at its resistances.
HANG SENG
The HANG SENG dropped below all its resistances with a gap taking it into all negative territory again.
NYSE & NASDAQ Stocks
Tesla Inc
After hesitating with 4 turning candles at its 200 DMA Tesla dipped below it again, back in all negative territory.
Micron Technology Inc
MU made a long-legged doji (turning candle) with the largest upper shadow we have seen in a long time.
JSE Stocks
JSE All Shares
The JSE All Shares did not know about direction and then changed it into an uncertain long-legged doji below its 50 DMA
Anglo American Platinum Ltd
We showed in a previous post how Anglo American Platinum steamed towards its long-term negative trend line. The resistance was too dominating, and it eased back to its 50 DMA with two hammer candles on it, very uncertain about direction.
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.
