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News in Brief
Bloomberg:
- Stocks get hit as hawkish Fed chorus grows louder.
- Asian equities headed lower, stung by Fed Hawks.
MarketWatch:
- Disney stocks jumps as Iger plans 7,000 job cuts in return to earnings stage.
- Robinhood accidentally sold short on a meme stock and lost $57 million.
- Dow ends down 200 points, Nasdaq falls 1.7% after Fed officials say more interest rate hikes could be needed to cool inflation.
Most companies use job cuts to improve their earnings. Disney was the latest company to follow this route.
Global Indexes
S&P 500
The S&P 500 corrected back to its EMA8 line, but managed to close above it and its current trend line.
DAX
The DAX lifted slightly off its EMA8 line, still with an uncertain small body candle.
HANG SENG
The HANG SENG is busy making an engulfing bull candle, still below its EMA8 line.
NYSE & NASDAQ Stocks
Walt Disney Co
Walt Disney made a spinning top candle with a MACD that is on the verge of turning red. These are turning warnings after the strong run.
Alphabet Inc
Alphabet broke its positive trend to close below its 200-day moving average. With this action the previous gap must be interoperated as an exhaustion gap.
JSE Stocks
JSE All Shares
The JSE All Shares is still moving sideways inside the flag it is forming. A break out of this flag will determine its new direction.
Mondi plc
Mondi broke its positive trend with a hanging man candle. This is a bearish reversal candlestick pattern warning.
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.
