TAGS: Technical analysis
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News in Brief
Bloomberg:
- Bond selloff grinds on as oil tests $94 a barrel.
- Stock route pauses as traders await Fed speak.
- China property stocks slide to lowest since 2011 as rout extends.
MarketWatch:
- ‘Extreme fear’ has returned to the US stock market.
- Trading of heavily indebted China Evergrande suspended in Hong Kong.
- Costco is selling out of small gold bars ‘within a few hours’ CFO says.
- Amazon sued by FTC, which alleged the company is ‘exploiting its monopoly power’.
- Google spent billions to build an illegal monopoly, Justice Department says as trial gets under way.
yahoo! finance:
- Stocks seesaw as yields continue climb, oil hits fresh highs.
- Stocks open higher in bid to come back from bruising selloff.
Stocks paused in the US with unconfirmed turning candles.
Global Indexes
S&P 500
The S&P 500 made a hammer candle in extreme oversold territory. This is an unconfirmed turning candle.
DAX
The DAX also made an unconfirmed small body turning candle in extreme oversold territory.
HANG SENG
No such signs for the HANG SENG. Notice that all indexes are busy with leg c of an abc correction.
NYSE & NASDAQ Stocks
salesforce.com Inc
salesforce.com also made an unconfirmed hammer candle in ectreme oversold territory.
Boeing Co
Similar for Boeing. Notice that the extreme leg c has taken this share price back to $193 support.
JSE Stocks
JSE All Shares
The JSE All Shares is still busy with leg 5 of a 5-leg correction. No turning candles here.
Sasol Ltd
The higher oil price is lifting Sasol, but not to the same extend as global oil companies. It has not even broken its 200 DMA.
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.
