Fed Rate Hikes Scare Investors

TAGS: Share value analysis

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News in Brief

Bloomberg:

Fed inclined toward more hikes to curb inflation, minutes show.

MarketWatch:

Opinion: No ‘soft landing’ is in the cards from Fed rate hikes. Look for recession and a buying opportunity once stock prices decline.
S&P 500 notches fourth day of losses as investors weigh Fed minutes, need for higher rates to cool inflation.
AMC’s stock jumps nearly 20% in 2 days, approaching bullish long-term technical breakout.
Nvidia adds to AI hype with new cloud-based service, stock jumps on forecast.

Although the news are geared to scare investors, there are always opportunities.

Global Indexes

S&P 500

The S&P 500 touched its 50 day moving average. A further break down will put us in all negative territory. A bounce is also possible as we are in oversold territory.

DAX

Although the DAX closed below its EMA8 line, it is still uncertain with another hammer candle on a horizontal support at 15300 points.

HANG SENG

The HANG SENG is still trending down deeper into oversold territory.

NYSE & NASDAQ Stocks

AMC Entertainment Holdings Inc

AMC was mentioned in the news. Although it gained 21.3% the past week, it is coming from a very low base and still below its negative trend line. We might even see a bounce down from this trend line.

Deere Company

Although Deere Company is holding up strong with a gap that broke its 50-day moving average, it is going to be very difficult to break strong top resistance at $446 with all the negativity in the air.

JSE Stocks

JSE All Shares

The JSE All Shares broke its flag and long-term trend line downwards. Notice that trend candles turned red. We will have to see if its 50-day moving average (dark blue) is going to hold?