TAGS: Technical analysis
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News in Brief
Bloomberg:
- Bonds sink, S&P 500 snaps four-day losing streak.
- Morgan Stanley’s Wilson sees risks rising for US Consumer stocks.
- Treasuries halt Fed-fueled rout as stocks struggle.
- Wall Street selloff across assets rattles risk-parity quants.
- Cooling AI boom drives $14 billion outflow from Taiwan stocks.
MarketWatch:
- Asia markets dip with eyes on China’s economy, possible US shutdown.
- Tesla’s stock snaps losing streak, as EV maker looks to build India battery factory.
- The economy is about to slow down. That’s the time for retail stocks, says Goldman Sachs.
- Tech money is finally flowing again, and it may be just the beginning.
- US stocks end lower, S&P 500 drops third straight week as Fed worries linger.
yahoo! finance:
- Stocks rise as Wall Street halts Fed-fueled hangover.
- Amazon to invest up to $4 billion in AI startup Anthropic.
- UAW targets GM, Stellantis in new round of strikes.
- Stocks sink on Wall Street fears of higher rates for longer.
The post-Fed selloff halted with some shares lifting their heads. The JSE was closed yesterday for a public holiday.
Global Indexes
S&P 500
The S&P 500 made a piercing candle in oversold territory. We need more confirmation today on a turn.
DAX
The DAX closed below its sideways channel support and is still below all important support in all negative territory.
HANG SENG
After threatening to break its negative trend line, the HANG SENG reversed back to important support. A break down from this level will see more downside.
NYSE & NASDAQ Stocks
Apple Inc
Apple is on strong support with two large upper bodies candles next to each other and an engulfing bull candle. But still below the negative trend line.
General Electric Company
When General Electric tested top resistance it had divergence in place. It then made a breakaway gap and has now broken its 50 DMA support. It is however still inside the sideways channel it is busy forming.
JSE Stocks
JSE All Shares
The JSE All Shares stalled just above important support with an inverted hammer candle on Friday.
Impala Platinum Holdings Ltd
Uncertainty is everywhere to be seen similar to Impala Platinum that made 5 small body candles next to each other.
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.
