TAGS: Software for stock market analysis
Free Subscription: Subscription is necessary to receive an email when market reviews are posted.
News in Brief
Bloomberg:
- Is 2% inflation in view? Be careful what you wish for
MarketWatch:
- Inflation slows again and clear path for slower Fed rate hikes
- Dow finishes up over 200 points, Nasdaq posts longest win streak since July
- American airlines stock jumps to best in 6 months after upbeat outlook
The stock market wasn’t too impressed with the first monthly decline in inflation in more than 2 years. As a result, we had a very volatile day on the US markets. As markets are in very overbought territory, do not be surprised to see some profit taking.
Global Indexes
S&P 500
We had a volatile day in the US as investors digest the inflation data. At the end of the day the S&P 500 closed on its 200-day moving average and touched its long-term negative trend line with a long-legged small body candle. We will have to wait some more to see what happens now at this strong resistance.
DAX
The DAX continued its positive trend and is moving into very overbought territory (FXC2=100=max).
HANG SENG
The HANG SENG remains very uncertain with 5 small body candles next to each other, also in very overbought territory.
NYSE & NASDAQ Stocks
Delta Air Lines Inc
After Delta Air Lines broke its negative trend line it took a steep trend upwards. It is however in very overbought territory.
NVIDIA Corporation
Similar to the index, NVIDIA is also touching its 200-day moving average. We notice no sign of a turn.
JSE Stocks
JSE All Shares
The JSE All Shares was just as unsure with a small body candle in anticipation what will happen in the US.
Impala Platinum Holdings Ltd
Impala Platinum is also unsure in overbought territory about next move with large upper body candles and a MACD turning dark green.
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.
