TAGS: How to analyse shares and stocks
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News in Brief
Bloomberg:
- Stock mood turns ugly as slowdown fears surface
- BOJ jolts financial markets but risk of a bigger shock remains
MarketWatch:
- Dow drops over 600 points, posts worst day of year after weak economic data, hawkish Fed remarks erase inflation cheer
- Bet on a falling US dollar because the Fed is likely to pivot, says TS Lombard
Goldman Sachs was the first season result that missed its target to start the Dow correcting. A host of such results followed to start a selloff.
Global Indexes
S&P 500
I adjusted my strong negative trend line for the S&P 500 slightlyto include the latest touches. Frontrunner broke down and the MACD turned dark green with the selloff that started. The Bears are taking control!
DAX
The DAX closed with an uncertain doji. Notice that Frontrunner is heading down and the MACD has already turned dark green 3 days ago.
HANG SENG
The HANG SENG is also correcting, but still manages to stay above its EMA8 line.
NYSE & NASDAQ Stocks
Kellogg Company
Kellogg Company’s Trend Factor has even turned red with its latest correction. Frontrunner is predicting that the correction is far from over.
International Business Machines Corp
The results of IBM started its selloff with a breakaway gap. Frontrunner broke down and the stock broke its 50-day moving average downwards.
JSE Stocks
JSE All Shares
The JSE All Shares was still moving positively above its previous high, but also in overbought territory.
Glencore PLC
Glencore is now close to top resistance with its 3.7% gain. Notice how it is moving into overbought territory as it nears the resistance. Frontrunner is also close to previous turning points.
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.
