TAGS: Technical analysis software
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News in Brief
Bloomberg:
- Asian equities advance ahead of busy data week.
- Stocks make comeback at end of Dizzying week.
- Global markets go on wild ride in week marked by forced selling.
- Buffett’s Apple share dump is set to reshape major stock gauges.
- S&P 500 notches biggest rally since November 2022.
- Stocks climb as jobs data quell economic jitters.
MarketWatch:
- US stocks face a bumpy road to recovery with inflation and earnings updates on the horizon.
- Meta and Eli Lilly, the biggest winners this earnings season.
- Fed rate-cut fervor is gripping Wall Street again.
- Generic weight-loss drugs? They’re coming – eventually, executive says.
- Eli Lilly’s stock soars as Mounjaro, Zepbound sales lead to a big profit beat.
- Jobless claims sink to 233,000 and come down from one-year high. Labor market still OK.
yahoo! finance:
- A jumpy stock market wants good news on inflation – and more.
- McDonald’s will have to stretch $5 meal deal to remain value victor.
- Goldman economist: Markets keep proving analysts wrong.
- Nvidia roars back as chips lead market rebound.
- TSMC sales grow 45% in July on strong AI chip demand.
- Jobless claims numbers eases fears on US labor market.
- Warner Bros. Discovery sinks after big earnings miss.
- Boeing’s new boss takes over with big job ahead.
The jobless data gave a rally boost to markets after a correction. While analysts are getting the markets wrong … stick to technical analysis. We will only know this week whether this was a rally in a bear correction as markets closed at critical resistances?
Global Indexes
S&P 500
The S&P 500 managed to close the week above its EMA8 line, but still, some distance below its 50 DMA. Not out of the woods yet. Notice the 4 gaps of the correction: Breakaway gap, two continuation gaps and an exhaustion gap to conclude the correction.
DAX
The DAX concluded the week with an indecision high wave candle, below its EMA8 line.
HANG SENG
The HANG SENG stalled with a doji just below its 200 DMA resistance on Friday and is currently trading on it this morning.
NYSE & NASDAQ Stocks
Uber Technologies Inc
UBER was the winner for the week with its 16.2% gain. It managed to close above all resistances.
Eli Lilly and Co
Next in line was LLY with its 10.8% gain.
JSE Stocks
JSE All Shares
The JSE All Shares also lifted its head with global markets by bouncing on its 50 DMA.
British American Tobacco PLC
BTI is busy building a flag. Its previous high was at R731.
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.
