TAGS: Technical analysis
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News in Brief
Bloomberg:
- Bond yields climb as stocks struggle in Fed run-up.
- Wall Street gearing up for Fed’s ‘Hawkish Pause’.
MarketWatch:
- S&P 500 slumps to bottom of bullish uptrend channel as investors brace for Fed Chair Powell.
- Intel’s stock slides to become Dow’s worst as inventory ‘air pocket’ overshadows AI chip rollouts.
- UAW strike is costing Big Three about $125 million each in lost revenue, Goldman Sachs says.
yahoo! finance:
- Stocks edge down as Fed decision looms.
- Fed expected to hold rates steady but not shut door on hikes.
All eyes on Fed’s rate decision today while markets are still edging lower.
Global Indexes
S&P 500
The S&P 500 closed with a long-legged doji, still inside the wedge forming in anticipation of the Fed’s decision.
DAX
The DAX closed lower in its sideways channel, below its EMA8 line resistance.
HANG SENG
The HANG SENG is also trading just below its EMA8 line with its 17900 level still holding.
NYSE & NASDAQ Stocks
Intel Corporation
The selloff of Intel actually already started 5 days earlier with the inverted hammer candle.
Deere Company
Deere could not break its negative trend line and stalled with 2 doji’s just below it. It it made a gap downwards to close below its 200-day moving average in all negative territory.
JSE Stocks
JSE All Shares
The JSE All Shares closed with a small body candle in anticipation of what is going to happen in the US today.
Foschini Group
Foschini turned with divergence in place to close above its 200-day moving average.
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.
