TAGS: Market analysis South Africa
Bloomberg:
- Gains in global stocks eroded by turmoil in China
- Stocks keep rally going as Big-Tech earnings loom
- China’s plunging market has become a high-risk bet on Xi Jinping
MarketWatch:
- Hong Kong stocks suffer worst single-day rout since 2008 as China’s Xi consolidates power
- Alibaba, Tencent and other Chinese stocks are in free fall, and it’s all about Xi Jinping
- Xi’s power grab spurs historic market rout as foreigners flee
- Stocks extend bounce, with Dow ending up over 400 points, amid renewed hopes of a Fed pivot
Euro and US markets kept moving strong, with China stocks plunging.
Global Indexes
S&P 500
The S&P 500 extended its rally with the 50-day moving average resistance looming ahead.
DAX
The DAX broke its 50-day moving average after touching 4 times to extend its rally.
HANG SENG
The HANG SENG only knows one direction and that is down.
NYSE & NASDAQ Stocks
Apple Inc
Apple is extending its rally ahead of earnings.
Home Depot Inc
Home Depot bounced on support with divergence. It is busy forming a W formation that could see it rally to $310. The MACD is still red, but very close to turning green again.
JSE Stocks
JSE All Shares
The JSE All Shares index was mostly influenced by Naspers and Prosus following Tencent down as it weighs heavily on the index. Most other shares actually followed the US and Euro markets higher.
Naspers Limited
Naspers closed a previous open window (gap) with a new open window. It is in free fall like the China markets.
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.
