Bloomberg:
- Stocks drop to lowest since July on fears Fed will stay hawkish
- Morgan Stanley’s Wilson sours on earnings amid growth woes
- European stocks, Euro sink as energy woes worsen
MarketWatch:
- Bad news for stocks: Fed will be surprised how hard interest-rate hikes hit economy, says BlackRock
- Bill Ackman says stocks will soon be a ‘buy’ now that the Fed is ‘doing what it has to do’ to fight inflation
Markets are still correcting, but most are in very oversold territory.
Global Indexes
S&P 500
Uncertainty continues for the S&P 500 while it is in oversold territory. Notice that all the % moves are negative.
DAX
The DAX lifted its head to touch the EMA8 line. It however remains in all negative territory below all resistances.
HANG SENG
The HANG SENG made a gap downwards that broke its support. It also remains in all negative territory.
NYSE & NASDAQ Stocks
Enphase Energy Inc
Enphase Energy is busy forming a flag. A flag break will determine the next direction while it is moving sideways.
Apple Inc
After the breakaway gap that broke the positive trend line, Apple corrected and is now in extreme oversold territory.
JSE Stocks
JSE All Shares
The JSE All Shares remains uncertain amid the Global Market corrections with its small body candle.
Woolworths Holdings Limited
The strong move of Woolworths Holdings took it all the way to top resistance in very overbought territory. I will be surprised if it can break this resistance with all the negative Global moves.
Algomodel Startegies, 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.
