Fed Last Say for 2023

TAGS: Tools to analyse stocks

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News in Brief

Bloomberg:

  • Asia shares advance ahead of key US inflation data.
  • Wall Street holds back on big bets before CPI test.
  • Strategist who called 2023 rally sees S&P 500 at 5,200 next year.
  • Asian stocks eye early gains into Fed meeting week.

MarketWatch:

  • Betting grows that S&P 500 will hit record high, with Oppenheimer joining Wall Street’s bullish calls for 2024.
  • Dow logs highest close in almost two years as investors await inflation data, Fed decision.
  • Oracle’s stock gets slammed bas revenue comes up a bit short.
  • This week’s Fed meeting could slam brakes on year-end stock rally.

yahoo! finance:

  • Inflation expected to have cooled last month.
  • Stocks close higher with CPI, Fed on horizon.
  • Microsoft agrees to union’s AI terms.
  • Occidental petroleum to buy CrownRock in $12 billion deal.

All eyes on inflation data and the Fed meeting that could change trend direction either way.

Global Indexes

S&P 500

The S&P 500 is busy breaking its 4600 resistance.

DAX

The DAX is busy making new all-time highs.

HANG SENG

We cannot recall ever seeing so many turning candles next to each other. The HANG SENG first made a tweezer bottom, followed by a hammer, two high waves and opened with another hammer candle today. It is breaking our tight negative trend line, but its first test will be the EMA8 line ahead.

NYSE & NASDAQ Stocks

Broadcom Ltd

AVGO turned with a P1 Power Signal on its 50 DMA and made a breakaway gap yesterday to close at a new all time high.

Berkshire Hathaway Inc

Berkshire Hathaway broke its negative trend line with a breakaway gap in oversold territory. We also have a P1 Power Signal and a MACD changing color.

JSE Stocks

JSE All Shares

The JSE All Shares made a long-legged hammer turning candle. We will have to see if the poor economy will prevail or if it will actually follow global markets in a positive direction.

Northam Platinum Holdings Ltd

Northam Platinum was one of the best performers on the JSE. It must however break its R129 resistance to move into a positive trend out of the current sideways movement.

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.

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