TAGS: Software for stock market analysis
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News in Brief
Bloomberg:
- Nasdaq 100 caps pivotal Fed week at record high.
- Wall Street rethinks 2024 outlooks after Fed-fueled rally.
- Stock bull run is flashing signs of exhaustion.
- Asian stocks advance as treasuries edge lower.
- Apple is so big, It’s almost eclipsing France’s stock market.
MarketWatch:
- Dow posts third straight record close, S&P 500 scores longest weekly win streak in six years.
- A new tech bull market is gaining momentum as rest of the group now joins the party, says Dan Ives.
- The set-up for bank stocks is looking like 1995, when they surged 54%, analyst says.
- Dow scores back-to-back record close after Fed pencils 2024 rate cuts.
- Opinion: S&P 500 is stretched but sell signals are nowhere in sight.
yahoo! finance:
- Fed’s preferred inflation gauge, Nike earnings: The week ahead.
- Fed-fueled rally carries Dow to new record.
- China’s ban on Apple’s iPhone accelerates: Bloomberg.
- Asia IPO market expected to improve in 2024.
If Apple is eclipsing France’s economy that is the world’s 7th-largest economy, what shall we say about South Africa that is the world’s 17th-largest economy (1.2% of World Market Cap)? It is still the largest economy in Africa.
Global Indexes
S&P 500
The S&P 500 took a breather with a doji and a small body candle next to each other in overbought territory. No selloff signs though.
DAX
The sideways movement of the DAX allowed it to move out of its overbought situation. It is still above its EMA8 and positive trend lines.
HANG SENG
The HANG SENG made a doji on its EMA8 line and then broke it with a breakaway gap to follow global markets positively. Let’s repeat all the turning candles: Piercing, hammer, high wave, hammer, another hammer, doji and then a breakaway gap. We cannot remember seeing so many turning candles next to each other. It opened negative today but managed to stay above its EMA8 line.
NYSE & NASDAQ Stocks
Boeing Co
The best performer listed on the DOW this week was Boeing. All technical signals should be ignored except for a trend line break or if Frontrunner breaks its positive support line just below 400 as shown.
Costco Wholesale Corporation
COST is in rocket mode after changing gear of its trend. It is making new highs with no resistance above.
JSE Stocks
JSE All Shares
After the doji the JSE All Shares wiped out the losses of the past few day to close on its 200 DMA.
Anglo American Platinum Ltd
Anglo America started to make rising bottoms after a very long decent. It is currently touching its last hurdle, 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.
