TAGS: Technical analysis software
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News in Brief
Bloomberg:
- Dollar up, Futures down on Trump-Win bets.
- Haven Rush, ‘Trump Trades’ on investors’ minds after shooting.
- S&P 500 rebound leaves big banks out on earnings.
- TSMC’s second quarter results may fuel its $420 billion rally as AI demand soars.
- Tesla shares drop after UBS downgrade on concerns over rally.
MarketWatch:
- Trump shooting offers test for stock market as investors weigh his election odds now.
- Nvidia’s stock bounces back and could rally another 30% analyst.
- US stocks end higher, post weekly gains on rate-cut optimism.
- Bank earnings: JPMorgan and Wells Fargo report mixed results, while Citigroup beats estimates.
- Citi shed 8,000 jobs in Q2, with more cuts to come.
yahoo! finance:
- Dow closes above 40,000 as stocks rebound from tech sell-off.
- Tesla downgraded to ‘sell’ at UBS.
- Expected US rate cuts have investors looking beyond Big Tech.
- 2Q earnings season will begin to ramp up with results from Netflix, American Express, Goldman Sachs and United Health.
The rebound after the tech sell-off was not convincing as most of the indexes retreated substantially from the day’s high. We will have to see today if the trend continues and how the Trump shooting will affect the markets.
Global Indexes
S&P 500
The S&P 500 made a positive rebound but ending with an inverted hammer candle. The large upper shadow is not positive. We will have to see today to which direction we get confirmation.
DAX
The DAX made a strong advance towards its top resistance.
HANG SENG
The strong advance of the HANG SENG made it close just below its 50 DMA on Friday. It retreated from this resistance this morning.
NYSE & NASDAQ Stocks
Wells Fargo Co
The results of Wells Fargo did not impress, and the share made a downwards breakaway gap. Notice where a level 1 and and a level 3 divergence was given. Analysts’ targets are most probably not updated yet as it closed below the bottom target of all analysts, not giving much confidence in their predictions?
Home Depot Inc
Home Depot is still on its way to its target of $390, but also closed with a big upper shadow similar to the index.
JSE Stocks
JSE All Shares
The JSE All Shares broke top resistance to continue its positive trend.
Anglo American PLC
Anglo is busy building a strong support at R550 with 8 touches. Notice all the hammer and doji candles at this level. They are all turning candles.
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.
