TAGS: Which technical analysis software is best
News in Brief
Bloomberg:
- BofA says sell equities rally ahead of 2023 unemployment shock
- Stocks buoyed by Powell and China, Dollar drops
- China stocks climb, Yuan rises past key level on reopening shift
MarketWatch:
- U.S. adds 263,000 jobs in November and wages rise sharply – still too much for Fed’s liking
- Barron’s: Strong job numbers throw cold water on hopes for end of rate rises
- BofA is selling U.S. equities rally on worries that unemployment will be ‘shocking’ in 2023
yahoo! finance:
- U.S. says ABB to pay over $315m to resolve bribery case
- U.S. joins EU and G7 to cap Russian oil prices at $60/barrel
- Big banks announce plans to cut back on end-of-year bonuses
Google Finance:
- Snowflake owner Premier cans JSE listing as Rhamaphosa crisis triggers market volatility
- McDonald’s launches compact restaurant with conveyor belts replacing staff
More:
Musk says energy storage is the future …
We had a market scare at opening triggered by the jobs report, but at the end of the day stocks closed near their highs. We believe that we will get an attempt to break top resistances as there was no major selloff. See list of top resistance shares below.
The JSE will remain volatile until the Rhamaphosa saga is sorted.
Global Indexes
S&P 500
The S&P 500 closed just below its long-term negative trend line after the jobs data scare made it open lower. We should know today if we have a break of this negative line?
NASDAQ
The NASDAQ has some distance to go before it reaches its long-term negative resistance.
DAX
The DAX is in bull territory, maybe waiting for the US to catch up.
HANG SENG
The HANG SENG is a similar distance as the Nasdaq away from its long-term negative resistances, but very strong today with a gap. We are expecting an attempt to break these resistances.
NYSE & NASDAQ Stocks
Fluor Corporation
After touching its top resistance several times, Fluor Corporation finally broke it with a 5.7% gain. Never believe that when a share is high it cannot go higher! Notice that its Trend Factor is dark green.
Caterpillar Inc
Similar to Deere Company, Caterpillar is hesitating at top resistance. When the S&P 500 breaks resistance, you can be assured that both these shares will also break top resistance. The following is a list of shares forming a top resistance, or busy breaking it: A, AA, AMD, ANF, ASML, BA, CAT, DE, ENPH, FLR, HD, HES, J, LOW, MAR, MSCI, NVDA, PEP, STM & TSM. You seldom see so many shares forming similar patterns.
JSE Stocks
JSE All Shares
The JSE All Shares did break its top resistance and then the Phala Phala report came, and volatility took over. You can expect volatility on the JSE until uncertainty is replaced with a positive certainty. Can it be achieved?
Capitec Bank Holdings
Uncertainty is to be seen everywhere. The uncertainty can be seen on the long-legged doji candle of Capitec. Most shares have long-legged small body candles to emphasize the uncertainty.
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.
