Inflation Assessed

TAGS: How to analyze shares and stocks

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News in Brief

Bloomberg:

  • Equities mixed as inflation assessed, oil rallies.
  • Biggest bank-stock rally since 2021 raises bar for earnings.

MarketWatch:

  • Chinese auto exports rose 64% in 2023, with strong push by EVs.
  • Dow erases 271-point loss as stocks fight back to a draw in choppy session.
  • S&P 500 briefly flirts with first record close in over 2 years.

yahoo! finance:

  • Banks are set for a high-stakes earnings showdown.
  • Stocks recover from losses amid inflation uptick.
  • New inflation numbers complicate Fed’s next move.
  • CPI data shows March, May rate cuts are ‘unlikely’: strategist.

Markets had a choppy session where lots of profit taking took place and then losses were erased as inflation assessed.

Global Indexes

S&P 500

The S&P 500 briefly touched top resistance with a hammer candle. We will only know what direction next after today as this is an unconfirmed turning candle against top resistance.

DAX

The DAX did not want to take any chances and made an engulfing bear candle, still inside its sideways market.

HANG SENG

The HANG SENG is still hesitant below its EMA8 line.

NYSE & NASDAQ Stocks

salesforce.com Inc

salesforce.com is still continuing its positive trend towards its previous high of $310.

Home Depot Inc

Home Depot shows the uncertainty of the markets clearly with its high wave candle and unconfirmed divergence in place. Its next move will determine trend extension or reversal.

JSE Stocks

JSE All Shares

The JSE All Shares is also uncertain with a high wave candle on its 50 DMA. we do have a P1 Power Signal and a MACD color change in oversold territory. Its next move will give direction.

Sasol Ltd

Sasol is now on bottom support with unconfirmed divergence in place. It had a massive drop of 60% from its high, making it one of the worst performers the past year. Not the best investment anymore of a few years ago! The oil price is still below its negative long-term trend line.

Algomodel Strategies, Education & Features

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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.

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