TAGS: Software for stock market analysis
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News in Brief
Bloomberg:
- Investors are dumping equities and cash amid fears of hawkish Fed, BofA says.
- JPMorgan could reach $1 trillion market value by 2030, Morgan Stanley says.
- Stock bull calls stifled as PCE goes the wrong way.
MarketWatch:
- Opinion: Expect Russia’s war in Ukraine to continue into 2024, with higher prices for oil, gas and defense stocks.
- Elon Musk to unveil Tesla’s ‘Master Plan 3’ on Wednesday’s investors day.
- Fewer S&P 500 companies mention ‘inflation’ during earnings calls despite elevated concern over price pressures.
- More than 110,000 tech-sector employees have lost their jobs since the start of 2023.
- Opinion: Big Tech hit $1.5 trillion in sales last year, but the days of mega growth seem to be over.
It was an all-negative day on markets as investors are dumping their stocks for cash.
Global Indexes
S&P 500
The S&P 500 closed with an uncertain long-legged doji on its 200-day moving average and long-term negative trend line just below its 50-day moving average. If this support does not hold, we are in for a very rough ride downwards.
DAX
The DAX broke its 15300 support and EMA8 line downwards.
HANG SENG
The negative trend for the HANG SENG is still in play. It is applying some brakes today as the low is nearing its 200-day moving average.
NYSE & NASDAQ Stocks
Adobe Systems Incorporated
One of the top tech shares, Adobe is already in second gear downwards with a large gap and Frontrunner warning that more lows are too come. This is one of the top 10 shares of one of the largest funds in the world! Notice where the MACD turned red.
Amazon.com Inc
Amazon.com closed with an uncertain doji just below its 50-day moving average. This is the last support before extending its negative trend much further. Notice where trend candles and the MACD turned red.
JSE Stocks
JSE All Shares
South Africa has been greylisted by anti-money laundering watchdog. This was no good news for the JSE All Shares with further downgrades on the cards. Its positive trend line is now decisively broken and its 50-day moving average is also broken downwards.
Anglo American PLC
The greylisting was not good for Anglo American that took a 7% dive to close on its 200-day moving average.
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.
