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News in Brief
Bloomberg:
- Cash is a ‘Compelling Alternative’ to stocks, Bank of America says.
- Stocks rise as risk-on rally lifts banks, Tech.
MarketWatch:
- Tech stocks back as a haven for investors? ‘It’s a mistake,’ say market analysts.
- S&P 500 logs highest close in 3 weeks, powered by tech stocks and calm in banking sector.
- EA laying off 6% of staff in cost-cutting push for videogame publisher.
yahoo! finance:
- Stocks surge, crypto rallies as end of quarter nears.
- Microsoft is dominating the AI wars …. for now.
Calm returned to the banking sector, and we had an all-positive day on global markets. With AI the latest buzzword, we are also planning to develop an AI version for Algomodel Signals …. Early days though.
Global Indexes
S&P 500
The S&P 500 then broke top resistance with a gap. We are back in all positive territory.
DAX
Similar for the DAX.
HANG SENG
The HANG SENG is still hesitating below its 50-day moving average, although it did make a gap yesterday.
NYSE & NASDAQ Stocks
NVIDIA Corporation
We showed the doji of NVIDIA yesterday. This turning candle was confirmed with a gap and 2.2% gain.
Caterpillar Inc
Caterpillar made a breakaway gap to break its negative trend line. Notice how its 200-day moving average (orange) acted as support for the W formation that is busy forming. Why is formations important: ‘Because they occur over and over’.
JSE Stocks
JSE All Shares
The JSE All Shares followed global markets to extend its rally.
Investec PLC
Investec made an engulfing bull candle to break its negative trend line. Notice how its 200-day moving average also acted as support for a turn. We also have divergence in place.
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.
