TAGS: Stock market analysis made easy.
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News in Brief
Bloomberg:
- Global markets on alert for Biden exit as Trump-win trades mount.
- Stocks hit fresh highs as weak data sink US yields.
- JPMorgan’s Kolanovic to exit amid string of poor stock calls.
MarketWatch:
- Jeff Bezos aims to sell another $5 billion of Amazon stock, after earlier selling spree.
- Betting markets give Harris better chance of being Democratic nominee than Biden.
- Cathie Wood’s ETFs sell Tesla’s stock for the first time in 9 months.
- Apple’s huge stock buyback proves one thing: Companies are lousy market timers.
yahoo! finance:
- A surprisingly strong second quarter deliveries figure has boosted Tesla as it looks to continue a mid-year stock turnaround.
- Huang cashes in on Nvidia rally with $169m share sale.
- Asian stocks climb, Yen rallies off historic lows.
We had insight on JPMorgan’s valuation of stocks and abandoned when it had some absurd valuations. The news now confirmed our observation, and we rather stick to technical analysis with only one eye on valuations. Another poor example of valuations is when you compare the highest with the lowest valuation and you find more than a 20% difference? Timing remains the key!
Global Indexes
S&P 500
The S&P 500 extended its positive trend after breaking its 5500 level.
DAX
The DAX wants to follow the US and is touching its 50 DMA resistance again.
HANG SENG
The HANG SENG lifted above its negative trend and EMA8 lines with only its 50 DMA resistance still as a hurdle.
NYSE & NASDAQ Stocks
Tesla Inc
Tesla is still dominating the markets with another gap. Frontrunner shows that its high has not been reached while Cathie Wood is selling.
NVIDIA Corporation
After some profit taking NVIDIA lifted its head in oversold territory with a P1 Power Signal and a MACD changing color.
JSE Stocks
JSE All Shares
The JSE All Shares broke its flag to the upside and is touching top resistance. If its J-curve plays out this resistance should be broken.
Impala Platinum Holdings Ltd
Impala Platinum made a large engulfing bull candle on its 200 DMA support with a level 3 divergence in place. It is touching its 50 DMA resistance with a W formation in place. Notice where the P1 Power Signal was given.
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.
