TAGS: Software for stock market analysis
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News in Brief
Bloomberg:
- There’s a new king in chip ETD’s after record $805 million inflow.
- Traders are duped by bear-market rally, Morgan Stanley’s Wilson says.
- US stocks, bonds rise on hopes a debt deal is near.
MarketWatch:
- Biden, McCarthy finalize debt-ceiling deal, but now must sell it to Congress.
- Hibbett says customers are not just worried about high prices. They’re afraid of losing their jobs.
- AI stocks are soaring – but average investors aren’t yet rushing in.
- ‘Ride the Nvidia wave.’ Wall Street says the ‘undeniably pricey’ stock can keep roaring.
- Nvidia’s stock is the most overbought in 18 months, but that doesn’t mean the rally is over.
yahoo! finance:
- Stocks surge as investors await debt deal, AI hype lifts tech.
- US economy beats back recession fears after GDP, jobs data.
A Debt Deal has always been resolved a few days before its deadline as opposition parties cannot afford to be seen as the obstacle ahead of an election. US markets are closed today for Memorial Day.
Global Indexes
S&P 500
The S&P 500 is making another attempt to break top resistance. The debt-deal might be the final say?
DAX
The DAX also made a positive move to close on its EMA8 line.
HANG SENG
The HANG SENG remains in all negative territory.
NYSE & NASDAQ Stocks
Adobe Systems Incorporated
Adobe also joined the rally. It only hesitated slightly after breaking its 50-day moving average before making a breakaway gap. Another 6% gain on Friday. Notice where Frontrunner gave a divergence signal and the MACD turned green.
Advance Micro Devices Inc
You need to zoom out or look at its weekly chart to see that Advance Micro Devices top resistance is at $161. It changed into 4th gear towards it.
JSE Stocks
JSE All Shares
The JSE All Shares lifted its head slightly, watching the US move, but still closed below its 50-day moving average (dark blue).
Kumba Iron Ore Ltd
Kumba Iron Ore bounced on strong support after the long-legged doji that touched it. It however still has 3 resistances above its current price. If it can break these resistances, we have the makings of a triple bottom. It also made a triangle with 5 touches. A break out of the triangle will confirm the next strong trend move. Keep an eye on this one!
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.
