TAGS: Technical analysis
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News in Brief
Bloomberg:
- Tech stocks rebound, Treasury yields turn lower.
- Bond selloff gains steam as September losses mount.
- Foreign investors dump $6.1 billion of Japan stocks, most since SVB collapse.
MarketWatch:
- The S&P 500 is brushing up against ‘the mother of all trend lines.’ What happens next could make or break the market.
- Two new inflation reports were just released. The Fed is watching.
- US economy grew 2.1% in second quarter, GDP shows. Third quarter could be even stronger.
yahoo! finance:
- The Fed looks past its preferred inflation gauge.
- Deals are coming back, but not as fast as Wall Street wants.
Some turning candles were confirmed with positive moves yesterday.
Global Indexes
S&P 500
The S&P 500 made an engulfing bull candle after the hammer candle in extreme oversold territory. We also had a power signal on the hammer candle.
DAX
The DAX also made a poer signal after the doji. Notice the flat top of yesterday’s candle confirming a bullish move.
HANG SENG
The data of the HANG SENG is not updating today, but it is also trading bullish at 17843 against our negative trend line.
NYSE & NASDAQ Stocks
salesforce.com Inc
We showed the hammer candle of salesforce.com yesterday. This is now confirmed with a power signal, an engulfing bull candle and a MACD changing color.
Advanced Micro Devices Inc
Advanced Micro Devices is still inside its downwards wedge, but bounced on its 200 DMA and bottom line of wedge. Notice the power signal and the MACD changing color.
JSE Stocks
JSE All Shares
The JSE All Shares made a piercing candle with no other confirming signals of a turn.
Sasol Ltd
Sasol finally got the message of a higher oil price and broke its 200 DMA with a 4.6% gain.
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.
