Summary:
-
US stocks look to follow Europe higher
-
S&P500 probing key resistance 2944
-
Google unearth iPhone spyware attack
The start of the week could hardly have begun worse for stock indices with large gaps lower seen on the Sunday night open after more negative news over the weekend saw traders panic following Friday’s plunge. However, the low for the week on S&P futures was actually made in the first hour and after consolidating through the middle of the week, US markets are now looking to end it with a flourish. The reasons behind the gains may seem more than a little dubious given that it is largely based on empty rhetoric, but the market is rising nonetheless and if there’s further gains during the US session then a very bullish weekly candle will have been printed.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
A large bullish engulfing candle is forming on the W1 chart for the S&P500. A close this evening above 2944 would confirm this. Source: xStation
There’s been some bad news out for Apple before this afternoon’s open after security researchers at Google posted a series of blogs that outlined the details behind a 2-year long spyware attack on iPhone owners. Text messages, photos and device locations have been able to be captured by the hackers until Apple fixed the problem in february. The timing of this could not really be much worse for Apple as they are set to launch their new iPhone on September 10 at an event in Silicon Valley. Despite this news, the stock is called to begin higher this afternoon, with the pre-market seeing gains of around 0.5%.
Apple shares have been attempting to recover for much of the month with the stock swooning in late July on the back of additional China tariffs. Price is back above the 50 day SMA which is also above the 200 SMA - which itself has flattened out of late. Source: xStation
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
