Best Week in 2024 - Algomodel

TAGS: Technical analysis software

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News in Brief

Bloomberg:

Shares in Asia advance with Jackson Hole in focus.
Stocks see best week in ’24 as buyers race back in.
Wall Street whiplash schools traders on fragile modern markets.

MarketWatch:

Disney-Fox-WBD sports streaming bundle blocked from launching by judge due to ‘near-monopolistic’ control.
Nvidia’s stock sees biggest weekly gain in 15 months, snaps a long losing streak.
Applied Materials, boosted by AI, is well positioned heading into 2025, analysts say.
History shows investors should keep a tight leash on risk once the Fed cuts rates: strategist.

yahoo! finance:

All eyes on the Fed at Jackson Hole.
Nvidia’s earnings could turn around the ailing AI trade.
Stocks secure best week of the year, reversing early August sell-off.
Disney has ambitious plans to fix its price problem.

Nvidia is almost the last share to report earnings every season … hold your breath? You must realize that modern markets are not behaving as in the past where you could buy a good share and forget about it … you need to be much more active to grab new trends.

Global Indexes

S&P 500

The S&P 500 continued its positive trend. When the high and low of each day are higher than the previous day’s, the trend continues.

DAX

The DAX also continued its positive trend.

HANG SENG

Even the HANG SENG lifted off its 200 DMA support and closed on Friday against its first hurdle, its long-term negative trend line. It made a gap past the negative trend line and is currently trading on its last hurdle, its 50 DMA.

NYSE & NASDAQ Stocks

NVIDIA Corporation

NVIDIA was one of the major winners for the week with its 18.9% gain.

Walt Disney Co

Disney dropped 27.9% from its previous high and is giving the first signs of a turn. It first gave a divergence P2 Power Signal followed by a breakaway gap. Even its lagging MACD turned green.