TAGS: Stock market analysis made easy.
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News in Brief
Bloomberg:
- Asian stocks advance as S&P 500 closes above 5,000.
- Treasury yields decline after Powell’s remarks.
MarketWatch:
- Upcoming earnings season may delay an ‘overdue’ pullback for S&P 500.
- US stocks could rise another 10% by the end of 2024 after a strong first half, history shows.
- Fed chief Powell hails US progress vs. inflation but says rate cuts require greater confidence.
- Opinion: ‘Any technology stock with an AI story is rising too far and too fast,’ this veteran trader warns.
yahoo! finance:
- Job openings data, a key labor market indicator, gave Wall Street a surprise to the upside.
- Stocks rise to records after Powell touts’ inflation progress.
- Tesla pops as vehicle deliveries beat estimates.
- JPMorgan’s Kelly: Only bear market ‘shock’ can upend tech.
Rate cuts in the US are not on the cards yet as Powell require greater confidence in combatting inflation.
Global Indexes
S&P 500
The closing of the S&P 500 above 5500 gave a positive boost for global markets. Notice that it did so with a shaven head candle (Very positive).
DAX
The DAX closed below its EMA8 line, still in a sideways move.
HANG SENG
The HANG SENG is making an attempt to lift its head above all the resistances.
NYSE & NASDAQ Stocks
Tesla Inc
Tesla smashed its long-term negative trend line with a 10.2% gain after a surprise deliveries report. Insider information already took its price past its 200 DMA before the report was released.
Advanced Micro Devices Inc
AMD is also breaking resistances with an average target price of $191.
JSE Stocks
JSE All Shares
The JSE All Shares is still hesitant as the DA and ANC fail to find each other in Gauteng this time.
Platinum
The Platinum price is busy with a J-curve closing above a 1000. If the J-curve plays out, we will see more upside.
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.
