TAGS: Technical analysis software
Free Subscription: Subscription is necessary to receive an email when market reviews are posted.
News in Brief
Bloomberg:
- Dollar under pressure before crucial US jobs data.
- Stocks fall as jobs leave ‘little room for error’.
- ‘Magnificent Seven’ prop up stocks before US jobs.
- China’s earnings setback sows fresh doubts about stock rebound.
MarketWatch:
- Opinion: Bulls need a lot of help – but the stock market isn’t willing to give it.
- Jobs report holds key to size of Fed rate cut. Forecast: 161,000 new hires, 4.2% unemployment.
- Jobless claims drop to 8-week low. Hiring has slowed, but layoffs aren’t rising.
- US productivity in the second quarter was better than initial estimates.
yahoo! finance:
- August jobs report set to be ‘pivotal’ factor in Fed’s coming cut.
- US economy may be on ‘thinner’ ice than investors think.
- Ford sales jump, with trucks and hybrids powering growth.
- OPEC+ agrees to delay October output hike for two months, sources say.
Shares traded mixed amid caution ahead of key US employment report. We have indecision candles on most charts waiting for direction.
Global Indexes
S&P 500
The S&P 500 now has an inverted hammer and a high wave candle sitting its 50 DMA. The jobs data will be key for the next direction.
DAX
Similar for the DAX with two inverted hammer candles next to each other.
HANG SENG
Similar for the HANG SENG with a high wave candle on its 50 DMA.
NYSE & NASDAQ Stocks
Amazon.com Inc
Amazon.com bounced on its 200 DMA closing still below its 50 DMA. The average price target of 43 Wall Street analysts remains at $220.
Alphabel Inc
Alphabet now has two turning candles sitting on its 200 DMA. Also waiting for jobs data.
JSE Stocks
JSE All Shares
You might have guessed it: Two hammer candles for the JSE All Shares sitting on its 50 DMA support.
Sasol Ltd
Sasol is sitting on its positive trend line with an indecision high wave candle.
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.
