TAGS: Technical analysis
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News in Brief
Bloomberg:
- Stocks fall as yield rise on Fed’s ‘Hawkish Skip’.
- Only fund beating Nasdaq long-term is defying stock-picking odds.
MarketWatch:
- Fed predicts ‘soft landing’ for the economy – low inflation and no recession.
- Fed skips rate hike for now, but doesn’t rule out another increase this year.
- Opinion: Most long-term investors can ignore the federal Reserve’s latest move.
yahoo! finance:
- Fed’s Powell calls soft landing a ‘primary objective’.
- Stocks slide after Fed pauses, hints at higher rates for longer.
We had a further selloff after the Fed’s press conference.
Global Indexes
S&P 500
The S&P 500 broke its wedge downwards after the Fed’s conference to continue its slide.
DAX
The DAX moved positively inside its sideways channel, but this market was closed during the US selloff .
HANG SENG
The HANG SENG is following the US down with all the negative trend lines in play.
NYSE & NASDAQ Stocks
Alphabet Inc
Alphabet broke down with an engulfing bear candle. Notice that we had divergence in place and its MACD has also turned red.
Costco Wholesale Corporation
COST reached strong resistance and made an inverted hammer candle against it.
JSE Stocks
JSE All Shares
The JSE All Shares was still anticipating a positive move in the US but was closed when the selloff in the US came.
Absa Group Ltd
Absa made a large engulfing bull candle to close at its 50 and 200-day moving averages. Frontrunner broke up and its MACD changed color.
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.
