All major indexes are above their 50 day moving averages, except for the Hang Seng that is also moving positively, but still below resistances.
Bloomberg:
- US inflation data will determine if stock rally continues
- Apple rallies most since May on strong iPhone pre-order data
- US economy is a safer bet than ‘dire’ Europe, Goldman strategist say
MarketWatch:
- Traders see inflation falling for rest of 2022, but that likely won’t end Fed rate hikes or market volatility
- Most investors think the next big move for the S&P 500 involve a near 20% drop, says Deutche Bank survey
- US stocks finish higher for fourth straight session ahead of inflation reading for August
Global Indexes
S&P 500
The S&P 500 is now well above its 50-day moving average, but still way below its 200-day moving average that acted as strong resistance.
DAX
The DAX followed the US and broke its 50-day moving average with a breakaway gap.
HANG SENG
The HANG SENG is barely above its EMA8 moving average, still below all major resistances.
NYSE & NASDAQ Stocks
Apple Inc
Apple made a breakaway gap. Notice where Frontrunner broke up and the MACD colors changed to light red in oversold territory.
Devon Energy Corp
After the two doji’s, Devon Energy Corp also made a breakaway gap. Frontrunner is breaking up and the MACD is changing color.
JSE Stocks
Platinum
The Platinum price is driving the platinum shares on the JSE. The MACD also crossed its signal line, but notice where Frontrunner broke up.
Sanlam Limited
Even Sanlam is making an attempt to break its long-term negative trend line. Notice where Frontrunner broke up!
Algomodel Startegies, 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.
