TAGS: Technical analysis software.
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News in Brief
Bloomberg:
- Asia stocks drop, treasuries steady after decline.
- Stocks grind higher on ‘Goldilocks’ economic signs.
MarketWatch:
- S&P 500 close to exiting correction territory as JPMorgan warns risk-reward in stocks appears ‘unattractive’.
- Goldman Sachs channels Taylor Swift in 2024 markets outlook: ‘all you had to do was stay invested’.
- US stocks on course for record dividends in 2023, as 98% of companies hold or raise payouts in the third quarter.
yahoo! finance:
- Dow leads stocks higher as oil falls, bitcoin soars.
- Xi faces a more skeptical US business community.
As markets are in extreme overbought territory, profit taking is not uncommon.
I will be away for the rest of November and thus Market Reviews will commence in December again. Lesson 1 under education has been updated to include the Power Signal that will be released this weekend.
Global Indexes
S&P 500
The S&P 500 closed with an uncertain doji in extreme overbought territory. Notice that the third gap of this rally can be an exhaustion gap.
DAX
The DAX closed above its 200 DMA, but also in extreme overbought territory.
HANG SENG
The HANG SENG is making an engulfing bear candle after a very short rally.
NYSE & NASDAQ Stocks
Eli Lilly and Co
The top resistance is too strong for LLY and profit taking stepped in with an engulfing bear candle.
Deere Company
After the uncertain high wave candle Deere Company continued its positive move to close just below its 50 DMA.
JSE Stocks
JSE All Shares
The JSE All Shares concluded its J-curve as the last leg is the same distance as the first leg of the J-curve.
Anglo American PLC
AGL is very uncertain with a long-legged doji touching its negative trend line. It closed just below its 50 DMA, not in positive territory yet.
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.
