TAGS: Technical analysis software
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News in Brief
Bloomberg:
- Asian stocks kick off big BOJ, Fed week with gains.
- Stocks climb as Fed bets rekindle broadening trade.
- Eisai shares sink on surprise EU rejection of Alzheimer’s drug.
MarketWatch:
- Fed’s next moves could seal fate of tech stocks and small-caps.
- Some of 2024’s most popular trades are coming undone after reaching ‘stupid’ levels.
- S&P 500’s turbulent week ends with stocks rallying after inflation report.
- Nvidia is among the chip stocks now clawing back.
- 3M’s stock has its best day on record as upbeat outlook underscores fresh start.
- Colgate-Palmolive’s stock boosted by earnings beat as company backs guidance.
yahoo! finance:
- Dow soars as stocks rally to cap volatile week.
- Calm inflation reading keeps door open for September cut.
- 3M has biggest gain since 1980 amid plans for turnaround.
Stocks are clawing back after cool inflation data. This week will be dominated by Big Tech earnings, Fed meeting and July jobs report.
Global Indexes
S&P 500
The S&P 500 closed above its 50 DMA support and below its EMA8 resistance line. We will have to see which one will be broken as it is still in oversold territory. The futures are positive for the US markets.
DAX
The DAX closed on its 50 DMA resistance. It only needs a small lift to be back in all positive territory.
HANG SENG
The HANG SENG closed with an indecision high wave candle just below its 200 DMA on Friday. It kicked off with a gain this week and is hesitating just below resistance. All Asia markets are positive.
NYSE & NASDAQ Stocks
3M Co
3M’s 23% gain was the share that lifted the DOW 1.64%. There is new life in this company after a dismal 6 years dropping from a high of $250.
Amazon.com Inc
Amazon.com made a P1 Power Signal in oversold territory. Analysts have adjusted their estimates for this share substantially with a new low of $180 and a high of $353! That is a 96% difference from low to high by analysts! (That is why I do not trust them). The average target of $220 remained the same.
JSE Stocks
JSE All Shares
After all the indecision candles the JSE All Shares took the positive rout. We adjusted our positive trend line to coincide with the 50 DMA.
Anglo American PLC
AGL corrected and closed the open window (GAP) that was created by the negotiations with BHP during April. It used the GAP as support and started a bounce back in oversold territory. It now broke the negative trend line.
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.
