TAGS: Stock market analysis made easy.
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News in Brief
Bloomberg:
- Tech powers stocks as Adobe surges in late trading.
- Stock bull run breaks record on Fed decision day.
- Treasury 10-year yield breaks below 4.3% on PPI.
MarketWatch:
- Tesla shareholders approve Elon Musk’s massive pay package, but legal fight ‘far from over’.
- Tesla’s stock should hit $2600 in five years, says Cathie Wood’s Ark Invest.
- Adobe surfs AI wave to post record revenue as its stock soars after earnings.
yahoo! finance:
- Stocks’ record-setting rally continues.
- ‘Roaring Kitty’ nearly doubles GameStop holdings.
- AI demand helps Korean chip export prices to record jump in May.
- Asian stocks slide, yen wobbles ahead of BOJ verdict.
AI is still dominant on markets and boosting related stocks. Consumer prices also showed signs of inflation subsiding.
Global Indexes
S&P 500
The trend remains positive for the S&P 500 as it moves into overbought territory.
DAX
The DAX made a large engulfing bear candle that broke support with its negative trend still in place.
HANG SENG
The HANG SENG is still managing to stay above its 50DMA support with its negative trend still ruling. It is still busy with leg c of its abc correction.
NYSE & NASDAQ Stocks
Deere Company
After a long correction Deere made a host of volatile candles on its $366 support. It finally blasted off after all the indecision candles. Notice that its average target is $424 with a Frontrunner moving positively and a MACD that turned green. Add the power signal that was given 10 days earlier!
Broadcom Ltd
Analysts have updated their targets for AVGO. It is blasting towards its target of $1863 with a frontrunner predicting more highs to come.
JSE Stocks
JSE All Shares
The JSE All Shares not sure of the political solution and made a piercing candle to close on its break line and 50DMA support.
Spar Group Ltd
Spar extended its blast off with another 3.9% gain. Notice that its weekly gain is 20.5%!
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.
