TAGS: Share value analysis
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News in Brief
Bloomberg:
- JPMorgan strategist say stock rally will fade.
- Goldman strategist see 24% jump in China stocks by year-end.
- Stocks muted; US futures fall as China bets fade.
MarketWatch:
- Investors have pushed stocks into the death zone, warns Morgan Stanley’s Mike Wilson.
- Amazon’s corporate employees may pay the price of falling share prices, with reduced compensation.
When news is scary, only follow what the technical moves are telling you. After a long weekend in the US I will not trust futures until their market is open.
Global Indexes
DOW
Although the DOW was closed, we leave the wedge shape graph of last week in the post to remind us of what happens next?
S&P 500
The S&P 500 was closed.
DAX
The DAX remains unsure with another small body candle just above its EMA8 line. The moderate positive trend line remains intact.
HANG SENG
We thought that we would see a break of either its 50-day moving average or its EMA8 line for the HANG SENG today. But instead we are greeted with an indecision doji in the center between these two lines. The break must come!
NYSE & NASDAQ Stocks
These markets were closed.
JSE Stocks
JSE All Shares
No flag break either for the JSE All Shares as its sideways movement continues.
Barloworld Ltd
After sliding down with its 50-day moving average, Barloworld broke it decisively yesterday. We might even see a break of its 200-day moving average just above as we are still in oversold territory.
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.
