TAGS: Technical analysis
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News in Brief
Bloomberg:
- Wall Street trading roiled by ‘Post-Fed Hangover’.
- China stocks slide to 10-month low as growth pessimism persist.
MarketWatch:
- The US could be in a recession, and we just don’t know it yet.
- Are markets getting worried about a recession? Invesco says a Fed pivot is coming.
- Job well done? Layoffs stay low even as Fed works to choke off inflation.
- MGM Resorts computers back up after 10 days following crippling cyberattack.
yahoo! finance:
- Stock losses deepen as hawkish Fed preys on hopes.
- Higher for longer interest rates won’t derail tech: Wedbush.
The post-Fed selloff continued, making a bullish case for US stocks weaker.
Global Indexes
S&P 500
The S&P 500 continued its selloff with a gap and closed at a key support in oversold territory.
DAX
The DAX followed the US downwards and touched its 200-day moving average support.
HANG SENG
The HANG SENG made a piercing bounce candle on important support today. It is still busy with leg c of an abc correction.
NYSE & NASDAQ Stocks
Mastercard Inc
Mastercard tested top resistance with 8 touches while it had divergence in place. The correction then started and it made a breakaway gap yesterday to close on its 50 DMA.
Costco Wholesale Corporation
After testing top resistance with 9 touches, COST broke its positive trend line. Notice that Frontrunner broke down a few days earlier.
JSE Stocks
JSE All Shares
The JSE All Shares followed the US with a large engulfing bear candle to close on its 729 support.
Anglo American Platinum Ltd
Anglo American Platinum remains in all negative territory below all resistances.
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.
