TAGS: Technical analysis software
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News in Brief
Bloomberg:
- SoftBank moves to slash Alibaba stake, fueling $13 billion slump.
- Jobs, Inflation data soften.
- Stocks gain as data anchor bets peak rates is near.
MarketWatch:
- PPI data show wholesale inflation registering sharpest monthly decline in three years.
- Inflation data’s outsize impact on stocks is fading after becoming a marquee event for markets in 2022.
- Apple to use 100% recycled cobalt in all Apple-designed batteries by 2025.
- S&P 500, Dow book highest close in 2 months on more signs of cooling inflation and ahead of bank earnings.
yahoo! finance:
- US jobless claim applications highest in more than a year.
- Travel demand: ‘The outlook for summer is strong,’ Delta CEO says.
- Hedge funds bought financial stocks amid bank turmoil: S&P.
- Analyst: Amazon lacks the expertise to grow its grocery business.
Although most markets are at key resistances, they keep on edging higher. This makes the short investors weary but beware if they take over!
Global Indexes
S&P 500
The S&P 500 bounced off its EMA8 and positive trend lines to edge higher. The current moves are happening while divergence warning is in place.
DAX
The DAX also edged higher after the inverted hammer (turning candle) in overbought territory with a small body candle.
HANG SENG
The HANG SENG is making another attempt to break its 50-day moving average resistance. Currently it is trading as a doji just above the resistance, not a very convincing attempt.
NYSE & NASDAQ Stocks
Apple Inc
Apple made a strong bounce off its positive trend line. This is its 5th leg of a bull trend.
Bank of America Corp
We warned earlier this week that Bank of America Needs to break its $29 resistance to change its sideways movement. Notice how this resistance was touched again. Earnings report that is due might give new direction.
JSE Stocks
JSE All Shares
The JSE All Shares broke its 50-day moving average to extend its current positive trend. We show on the chart where its positive trend started: Frontrunner break with MACD changing color.
Northam Platinum Holdings Ltd
Northam Platinum broke its 50-day moving average and sideways movement channel resistances with a 5.9% gain.
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.
