TAGS: Market South Africa
Bloomberg:
- Everything is suddenly going right for China’s stock market
- Big tech stokes Nasdaq as yields dip on Fed hopes.
- Stocks, bonds rally with inflation data in focus
MarketWatch:
- Warren Buffett’s chip-stock purchase is a classic example of why you want to be ‘greedy only when others are fearful’
- Even JPMorgan’s bullish strategist Kolanovic says markets are getting ahead of themselves
- Dow ekes out gain, stocks end higher on signs of easing inflation
- Traditional 60/40 strategy may start to work again for investors, but ‘tightening cycles can be scary,’ Goldman exec says
More:
- Dis-Chem loses R1.9 billion after no-whites letter
After the one-day stall, the US markets continued their rally hesitantly with no confirmation of a turn.
Global Indexes
S&P 500
The S&P 500 is edging closer to its last hurdle, its 200-day moving average and long-term negative trend line. Notice that it has a positive Trend Factor again.
DAX
The DAX is also edging higher in very overbought territory.
HANG SENG
The HANG SENG is the index with the most lost ground to regain, but it is in very overbought territory after its recent rally.
NYSE & NASDAQ Stocks
Caesars Entertainment Corp
Caesars Entertainment has now reached its 200-day moving average. Can it break it and move into all positive territory? Even if it does not, the current rally is already a staggering 72.9% gain!
Alphabet Inc
Alphabet reached its 50-day moving average and negative trend line with a long-legged small body candle to show uncertainty about current move. Frontrunner is still happy so we will have to see if we get confirmation of a turn or positive break.
JSE Stocks
JSE All Shares
After the strong rally the JSE All Shares is showing signs of stalling in overbought territory. It has two small body candles with a MACD changing color in very overbought territory.
Kumba Iron Ore Ltd
Kumba Iron Ore completed its W formation against its 200-day moving average in extreme overbought territory. Rallies can continue in overbought territories for some time, but be watchful for negative move confirmation.
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.
