TAGS: Software for stock analysis
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News in Brief
Bloomberg:
- Tech stocks take driver’s seat in earnings run-up
- Tech’s ferocious rally raises bar for earnings as red flags wave
- Morgan Stanley says US stocks aren’t pricing weak data
MarketWatch:
- Landlord sues Twitter, saying $3.16 million owed in rent for San Francisco headquarters
- Microsoft makes new ‘multibillion-dollar’ investment in ChatGPT-maker OpenAI
- AMD can keep eating Intel’s lunch, Barclays says as stock surges
After a short correction from its long-term negative trend line, the S&P 500 is making a much more positive attempt to break it..
Global Indexes
S&P 500
The S&P 500 broke its 200-day moving average and is sticking its head above its long-term negative trend line. It is fueled by the tech rally.
DAX
The short correction of the DAX took it out of its extreme overbought situation. It is bouncing on its EMA8 line.
Nikkei 225
As the HANG SENG is closed, we show the Nikkei 225. This index is breaking its 50 and 200-day moving averages with a positive gap.
NYSE & NASDAQ Stocks
Advance Micro Devices Inc
Advance Micro Devices was the winner with its 9.2% gain. It bounced on its 50-day moving average with a gap. Notice where the MACD turned green.
NVIDIA Corporation
Not far behind was NVIDIA with its 7.6% gain. This share is about to make a ‘Golden Cross’. This happens when its 50-day moving average crosses its 200-day moving average.
JSE Stocks
JSE All Shares
The JSE All Shares never corrected and if it follows the US higher today, Frontrunner will also break up. The MACD never turned red during this period of hesitation.
Anglo American PLC
Anglo American also only moved sideways without dropping below the strong positive candle. Its MACD also remained 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.
