TAGS: Technical analysis software
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News in Brief
Bloomberg:
- Stocks wipe out CPI-fueled slide as Big Tech jumps.
- IBM shares hit record as investors look for stable tech winners.
- Stocks get tech boost despite ‘Big Bank Gloom’.
- Yields rise as traders dial back Fed bets on CPI.
MarketWatch:
- The stock market was briefly unsettled by the CPI inflation report.
- Norfolk Southern fires its CEO over relationship with another executive.
- CPI report for August: Higher ‘core’ inflation might limit Fed rate cut.
- CPI shows US retail prices now up just 2.5% over past year.
- Stocks showing negative knee-jerk reaction to August CPI data.
yahoo! finance:
- Nvidia CEO Jensen Huang: ‘Everybody is counting on us’.
- Nvidia leads bounce back from post-CPI sell-off.
- Consumer prices rise at slowest pace since early 2021.
- Dow slips as CPI report tees up small Fed cut.
- China asks its carmakers to keep key EV technology at home.
- Adobe to launch generative AI video creation tool later this year.
The US stocks pulled off a huge intraday comeback after early post-CPI selloff.
Global Indexes
S&P 500
After an early selloff the S&P 500 gained momentum to smash EMA8 (orange), 50 DMA (dark blue) and negative trend line (red) resistances to be back in all positive territory.
DAX
The DAX did not have time to react to the US move, but nevertheless closed with a long legged doji on its 50 DMA support.
HANG SENG
The HANG SENG lifted itself above its 200 DMA again in reaction to the US move. It is still below its EMA8 and 50 DMA resistances.
NYSE & NASDAQ Stocks
NVIDIA Corporation
After the doji NVIDIA led the tech sector with a 8.1% gain to close just below its 50 DMA. Notice where frontrunner broke up and the MACD changed color in oversold territory.
First Solar Inc
It was actually FSLR that took the most shine with its 15.2% breakaway gap.
JSE Stocks
JSE All Shares
The JSE All Shares was also closed when the US reversed. It closed in extreme oversold territory.
Investec PLC
INP made a high wave candle in oversold territory. It is at the bottom of its current sideways band.
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.
