TAGS: Share value analysis
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News in Brief
Bloomberg:
- Tesla punishes short sellers with losses.
- Stocks wake up to Fed-rate rethink as yields surge.
MarketWatch:
- Stock-market rally could peak before first quarter is over, say JPMorgan strategist.
- The stock market booked its worst day of 2023 because investors aren’t sure where rates will peak.
- PayPal CEO’s ‘unusual’ $2 million stock purchase is certainly a positive signal
Dow ends down nearly 700 points on worries about higher peak rates.
Global Indexes
DOW
The DOW broke its wedge and 50-day moving average (dark blue) in one move to establish the trend move downwards.
S&P 500
The uncertain doji of the S&P 500 was confirmed with a downwards move. The trend is negative.
DAX
The DAX was still uncertain with a hammer candle but will most probably follow the US downwards today.
HANG SENG
The HANG SENG broke its 50-day moving average and is extending its negative trend. This index is the only one that is in oversold territory.
NYSE & NASDAQ Stocks
Home Depot Inc
Home Depot broke its strong support of $310 with a gap downwards. Notice where the MACD turned red …. an indicator not to ignore!
Microsoft Corporation
Since Microsoft broke its positive trend line it made a breakaway and continuation gap downwards. Notice that where Frontrunner broke down and the MACD turned red.
JSE Stocks
JSE All Shares
The JSE All Shares busy breaking its flag downwards. The red MACD and negative Frontrunner trend have been warning of a downwards break for quite a while.
Sasol Ltd
Sasol was one of the biggest losers on the JSE yesterday. Notice where trend candles turned yellow and red with a MACD and Frontrunner confirming that we have a negative trend.
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.
