TAGS: Technical analysis
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News in Brief
Bloomberg:
- ‘Most-Crowded Trade’ drives S&P 500 to new record.
- Stocks fall as Wall Street trims risk before Fed. [Earlier the day]
- Trading floors buzz with excitement as BOJ axes negative rates.
MarketWatch:
- Fed is ‘so far from equilibrium’ as markets await rate guidance, BlackRock’s Rick Rieder says.
- Negative-interest-rate era is over. Was it the ‘dumbest idea’ in economic history?
- Dell’s stock gets an Nvidia bump, but AMD shares among chip names under pressure.
- Dow struggles for direction as attention turns to Fed meeting. [Earlier the day]
- Super Micro plans to sell stock after nearly 1,000% rally over the past year.
yahoo! finance:
- S&P 500 hits fresh record as all eyes turn to Fed.
- Boeing must improve quality before boosting 737 production, FAA says.
- Stocks retreat as Fed meeting gets underway. [Earlier the day]
- Nvidia slips as market holds judgement on flagship AI chip.
- TikTok ban may end up buried in Senate’s ‘graveyard’.
Fed officials are set to announce their latest decision on interest rates. Do they still anticipate 3 rate cuts in 2024?
Global Indexes
S&P 500
The S&P 500 closed at a fresh high just below its 5180 resistance with an engulfing bull candle.
DAX
Similarly, the DAX closed just below its 18000 resistance.
HANG SENG
The HANG SENG is busy making an unconfirmed hammer candle (turning candle) on our positive trend line.
NYSE & NASDAQ Stocks
Halliburton Company
HAL is ignoring its overbought situation and breaking a very strong resistance that was touched many times.
Starbucks Corporation
After correcting from a high of $107, SBUX gave a P2 Power signal at previous support. It is still in all negative territory below all resistances.
JSE Stocks
JSE All Shares
The correction of the JSE All Shares has now reached previous support without any sign of a turn.
Anglo American PLC
Anglo American is busy building a flag on its 50 DMA. A break of the flag will give new 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.
