TAGS: Technical analysis software
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News in Brief
Bloomberg:
- Stocks up as path to September Fed cut gets wider.
- Trump’s election lead sparks hunt for Japan stocks.
MarketWatch:
- S&P 500 scores record high as jobs data point to cooling ‘but not collapsing’ economy.
- Opinion: This new S&P 500 buy signal gives you another season to stay bullish about stocks.
- US economy and jobs market are showing cracks. Fed rate cuts are not far off.
yahoo! finance:
- Tech giants lead S&P 500, Nasdaq to more records.
- Tesla uses monster rally to come back from deep 2024 hole.
- Nvidia gets rare downgrade as analyst warns on upside.
- Gold hits highest since May after jobs data.
Tech giants are still driving the US markets higher.
Global Indexes
S&P 500
The S&P 500 closed at a new high as it passed the 5535 forecast that was made in April.
DAX
The DAX is very unsure of breaking our negative trend line as it made an indecision high wave pattern.
HANG SENG
The HANG SENG only managed to close one day above our previous negative trend line before it fell back below its EMA8 line. We adjusted our trend line to include the recent tops.
NYSE & NASDAQ Stocks
Meta Platforms Inc
Meta Platforms was leading the tech shares with its 5.9% gain. It broke top resistance and also surpassed the analyst’s average price of $521.
Advance Micro Devices Inc
AMD lifted out of the starting blocks with lots of support below. Its negative trend line is broken and it is above all support averages with a MACD that turned green. You might recall that this share eased down after JP Morgan’s analyst degraded this share. He was fired last week for poor callings. In the US they do not tolerate poor performances!
JSE Stocks
JSE All Shares
The JSE All Shares retreated from its top resistance. We will have to see today if it is going to follow the US or continue correcting.
Impala Platinum Holdings Ltd
Platinum shares are following the strong platinum and palladium prices higher. IMP is above support with a Trend Factor that also turned positive.
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.
