TAGS: Technical analysis gold
Bloomberg:
- Nvidia leads chip stocks higher on Meta’s planned tech binge
- Saudi wealth fund said to ready billions in domestic stock sales
MarketWatch:
- Elon Musk completes Twitter purchase, fires CEO and other top execs: reports
- Elon Musk on the hook to pay more than $200 million to 3 fired Twitter execs
- Amazon stock sinks after holiday forecast and cloud growth, profit disappoint; $150 billion in market cap at risk
- Apple earnings beat as record back-to-school Mac sales outweigh a slight miss on iPhones
- Meta spending slams Facebook stock, but the chip stocks that are benefiting: NVIDIA, AMD, INTEL and MAXWELL
BIG Tech is still influencing markets in the US with the Nasdaq taking the most pain. There are always stocks that come and bite you, but it is always best to make painful decisions quickly to minimize further pain.
Global Indexes
S&P 500
The 50-day moving average is acting as a strong resistance for the S&P 500 as the Big Tech correction weighs heavy on the index.
DAX
The DAX is attempting to break its long-term negative trend line but do notice that we are in very overbought territory.
HANG SENG
The HANG SENG could not even break its EMA8 line as China cling on to their Covid Zero policy.
NYSE & NASDAQ Stocks
Amazon.com Inc
Amazon.com is giving investors a lot of pain. Notice the trend factor and % performances. Not a stock to own currently!
Caterpillar Inc
In contrast Caterpillar is going from strength to strength. Notice where the MACD turned green, and Frontrunner broke up. It made another gap yesterday.
JSE Stocks
JSE All Shares
The JSE All Shares is hesitating with a doji at current level. This indicates uncertainty about direction.
Sasol Limited
Sasol is busy breaking its long-term negative trend line. Notice that the turn cam with divergence.
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.
