TAGS: Share value analysis
Bloomberg:
- Chinese stocks soar as reopening talk fuels speculative frenzy
- Powell signals smaller rate hikes ahead on path to higher peak
MarketWatch:
- Dow ends 500 points lower; Nasdaq falls 3.4% after Fed raises
- Apple now valued at more than Amazon, Alphabet and meta – combined
- Elon Musk plans to cut Twitter’s workforce in half: report
After the Fed rate hikes, we had a selloff on the US markets.
Global Indexes
S&P 500
The S&P 500 plunged below its 50-day moving average and the EMA8 line after Fed announcement. We are back in all negative territory.
DAX
The DAX also started correcting after the last doji. It was in very overbought territory.
HANG SENG
The HANG SENG is also trading lower and currently on its EMA8 line.
NYSE & NASDAQ Stocks
Apple Inc
Apple did not escape the selloff and also plunged 3.7%.
Devon Energy Corp
Devon Energy had the largest selloff with its 12.8% drop. Notice where Frontrunner broke down when the price was testing a previous top. The MACD has now turned red.
JSE Stocks
JSE All Shares
The JSE All Shares was closed when the US selloff started and will most probably follow the US lower today as it is also in overbought territory. Notice the hesitation yesterday ahead of the FED announcement.
British American Tobacco
After touching top resistance in very overbought territory, British American Tobacco dropped 4.9% in one day. Notice where Frontrunner broke down and The MACD changed color. When signals combine in overbought territory, one must take note!
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.
