TAGS: Technical analysis software.
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News in Brief
Bloomberg:
- Apple’s China woes stoke $20 billion Xiaomi rally.
- S&P 500 rally powers ahead to embolden bulls.
- Traders bet on big tech stocks to ride out end of rate-hike cycle.
MarketWatch:
- Stock-market rally faces make-or-break moment.
- Tech stocks are breaking out, defying bears and signaling year-end strength: analyst.
- Dow ends nearly 400 points higher as tech rally leads stocks to highest close since September.
- This week’s October inflation data looms large on Washington’s economic radar.
yahoo! finance:
- Stocks rally to cap another winning week.
- Hollywood actors to vote on strike deal.
- Inflation, Walmart, Target highlight a consumer-focused week.
The lesson to be learned is not to react on a one-day movement. It is better to wait and see more confirmation signals.
Global Indexes
S&P 500
The S&P 500 only threatened its EMA8 line but did not cross it. It rather used the support to bounce to close slightly above our negative long-term line.
DAX
The DAX also only touched its EMA8 line to close above it.
HANG SENG
The HANG SENG is the only index that is below its EMA8 line in all negative territory.
NYSE & NASDAQ Stocks
Advanced Micro Devices Inc
AMD was one of the strong movers, now heading for top resistance.
Micron Technology Inc
The turning candle of MU was not confirmed, and it rather broke its $75 level. This is a good example on not to react on one signal alone.
JSE Stocks
JSE All Shares
The JSE All Shares is still uncertain about direction and retreated from its 50 DMA resistance.
Truworths International Ltd
Truworths made a 50% retraction to bounce on its 50 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.
