TAGS: Technical analysis software
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News in Brief
Bloomberg:
- Chinese stocks fluctuate as traders assess fiscal support vows.
- China puts investor patience to test as briefing underwhelms.
- CNX shares soar to decade high while traders pile into options.
- Trump Media Rally draws in bullish post-election options bets.
- BofA’s Hartnett recommends buying any dips in Chinese equities.
MarketWatch:
- Boeing to lay off 10% of workforce, warns of quarterly loss and weaker sales.
- Tesla’s robotaxi event is ‘stunningly absent on detail,’ sending stock lower.
- Pfizer wins FDA approval for hemophilia B drug that will be first once-weekly treatment.
- Opinion: Nvidia just made two moves that could push its stock to the next level.
yahoo! finance:
- Dow, S&P 500 notch record highs as earnings season kicks off.
- Boeing to cut 17,000 jobs, delay first 777X delivery as strike hits finances.
- China’s finance minister says there is room for more economic stimulus but offers no plan.
- Tesla robotaxi event left Wall Street pros scratching their heads.
JP Morgan’s results surpassed analysts’ expectations in both profit and revenue to boost banking shares.
Global Indexes
S&P 500
The S&P 500 made a bullish doji sandwich formation to close at a new high.
DAX
The DAX had a similar formation where the doji was replaced with a small body candle, on its way to top resistance.
HANG SENG
The HANG SENG was closed on Friday. It is trading lower today, below its EMA8 line, as traders assess fiscal support vows.
NYSE & NASDAQ Stocks
Bank of America Corp
On the back of JP Morgan’s results BAC actually moved more with a gap. It already made a breakaway gap so the current gap must be seen as a continuation gap. The firm will release earnings results for its third quarter before the opening bell on Tuesday, Oct. 15.
Tesla Inc
Lack of info on its robotaxi send Tesla lower to close with an indecision pattern on its long-term positive trend line.
JSE Stocks
JSE All Shares
After the turning candles in oversold territory the JSE All Shares turned positively.
Standard Bank Group Ltd
SBK turned in oversold territory on its 50 DMA. Notice how the turn was announced with a high wave and doji next to each other.
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.
