TAGS: Technical analysis
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News in Brief
Bloomberg:
- Asian stocks retreat after US shares hit record.
- Reddit soars 48% in debut as AI pitch gets warm reception.
- S&P 500 hits 20th record this year in risk-on push.
- S&P 500 closes at historic 5,200 mark after Fed.
MarketWatch:
- Opinion: Apple has missed this year’s tech rally, and DOJ suit will likely make that pain linger.
- Fed still on track for June rate cut, and 2 other takeaways from Powell’s press conference.
- Micron’s stock rockets higher as company delivers big, AI-fueled earnings beat.
- Chipotle’s stock zooms to record after announcing 50-for-1 stock split.
- Opinion: Nvidia shows it’s still on track for AI dominance.
yahoo! finance:
- Reddit stock soars in highly anticipated market debut.
- Fed still projects 3 rate cuts this year.
- Stocks climb to new records as Fed sticks to the plan.
- Stocks in Asia echo US gains on Fed rate signals.
Although inflation was higher the Fed did not change their rate cut plan. The JSE was closed yesterday while global markets continued their positive trend.
Global Indexes
S&P 500
The S&P 500 broke its 5180 resistance and closed at a new high.
DAX
Similarly, the DAX broke its 18000 resistance to close at a new high.
HANG SENG
The HANG SENG is testing its medium positive trend line on poor China policy.
NYSE & NASDAQ Stocks
Goldman Sachs Group Inc
Goldman Sachs broke its 9-week sideways movement with a gap. Frontrunner is predicting more highs to come with a MCD that turned green again. Even its Trend Factor has moved into the dark green category (best trend shares).
Home Deput Inc
Similar for Home Depot except for the dark green Trend Factor, but on the verge of doing so.
JSE Stocks
JSE All Shares
The JSE All Shares made on Wednesday a piercing candle to signal a turn on support of 716.
Anglo American Platinum Ltd
Anglo American Platinum has now bounced 4 times on its 678 level. We will have to see if it has enough steam to break the resistance averages above this time round?
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.
