TAGS: Technical analysis software.
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News in Brief
Bloomberg:
- Asia stocks gain before US inflation, Fed speakers.
- Stock traders sitting on their hands before CPI.
- ETF to Cover $8 billion in short options and the market knows it.
MarketWatch:
- Dow adds to back-to-back weekly gains as inflation data looms.
- Battered small-cap stocks look like a buy, BofA Global says.
- Wall Street is bracing for inflation data that includes problematic undertones for the Fed.
yahoo! finance:
- Inflation expected to have ticked down in October.
- Stocks closed mixed as investors await key inflation data.
- Wall Street expects a divergence in retail earnings this week.
While markets are waiting for US inflation data, we are in the final stages of testing our next release. It will include our second Power Signal (confirmed divergence) and text can be added to graphs.
Global Indexes
S&P 500
The S&P 500 closed at a crucial resistance with a high wave candle (High Wave text is new release’s text on chart). With $8 billion short options in place at this crucial junction we can expect a strong move either way.
DAX
Similarly the DAX is also at key resistance.
HANG SENG
The HANG SENG is trading on its EMA8 line, uncertain about direction. Notice the reversal candle text on the chart: ‘Abandoned baby’ and ‘Evening Star’.
NYSE & NASDAQ Stocks
C3 Ai Inc
AI is a good example to show our new power signal (P2). It is a confirmed divergence signal. Divergence is shown with the purple lines. AI is busy with a J-curve on its 50 DMA. We also marked the strong support with text. Another great use of text will be to mark good and poor result candles.
Tesla Inc
Tesla is not waiting for the inflation data and busy completing its j-Curve closing above its 200 DMA. We show the power signals again. These signals are best used with trend line breaks as you will get wrong signals during a strong trend that needs confirmation of the next day’s move. For medium to long term investors these signals are powerful to catch tops and bottoms.
JSE Stocks
JSE All Shares
The JSE All Shares is also hanging around for the US’s next move.
Kumba Iron Ore Ltd
KIO is now touching strong resistance with unconfirmed divergence in place, thus no Power signal yet. Divergence is explained in Lesson 1 under education. We will update this lesson after the new release.
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.
