TAGS: Technical analysis software.
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News in Brief
Bloomberg:
- Stocks climb as oil wipes out war-fueled surge.
- Morgan Stanley’s Wilson sees year-end stock rally as unlikely.
- Stocks rise, bonds fall as Mideast anxiety eases.
MarketWatch:
- Dow edging closer to bearish ‘death cross’ signal.
- Apple unveils new M3 processors and new MacBook Pros.
- Tesla’s stock closes at lowest in five months, as concerns about EV demand swirl.
- The market’s in a funk. But this is an attractive entry point for long-term investors says JPMorgan strategist.
- McDonald’s stock climbs after earnings and sales rise above expectations.
yahoo! finance:
- The national debt is finally a real-world problem.
- Stocks already ‘discounted a severe recession’: Strategist.
- UAW reaches deal with GM, ending strike against Detroit automakers.
- This week’s big bond event is at the Treasury, not the Fed.
We had a bounce in stocks in the US but be wary of a one-day bounce.
Global Indexes
S&P 500
The S&P 500 made a bounce in oversold territory, but still closed below all resistances.
DAX
Similar for the DAX. We adjusted the negative trend lines to align with its EMA8 line.
HANG SENG
Similarly, the HANG SENG is also trading below its EMA8 line.
NYSE & NASDAQ Stocks
Amazon.com Inc
After the breakaway gap, Amazon.com continued its rally to close above its 50 DMA.
Adobe Systems Incorporated
Adobe Systems also made a bounce in oversold territory to close below its 50 DMA. Notice that it still has a red trend candle.
JSE Stocks
JSE All Shares
The JSE All Shares made an unconfirmed piercing candle also in oversold territory.
MTN Group Ltd
MTN was the biggest loser on the JSE as it extended its negative trend further that started in August. Its trend factor is now in dark red territory.
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.
