TAGS: Tools to analyze stocks
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News in Brief
Bloomberg:
- Global investors contemplate fallout from US rates reaching 6%.
- Meta’s rally doesn’t need a hand from TikTok ban.
MarketWatch:
- U.S. stock valuations revisit levels as ‘extreme’ as when 2022 bear market began, warns Morgan Stanley Wealth Management.
- Bond-market recession gauge plunges to triple digits below zero on the way to fresh 4-decade milestone.
- Powell leaves door open for faster pace of interest rate rises at March meeting.
- Warren Buffet’s Berkshire buys more Occidental.
- US stock market skids Tuesday, spooked by Fed’s Powell tough talk on interest rates and 5% Treasury yields.
yahoo! finance:
- Powell tells Congress rates will likely go ‘higher’.
Powell scared investors who made a selloff in the US.
Global Indexes
S&P 500
After the inverted hammer candle the S&P 500 had a selloff that closed below its 50-day moving average. Notice that a negative trend line, strong resistance is forming.
DAX
The DAX also bounced down from top resistance.
HANG SENG
Its 50-day moving acted as strong resistance for the HANG SENG. It made a long-legged small body candle against the average line and confirmed it this morning with a breakaway gap downwards.
NYSE & NASDAQ Stocks
Meta Platforms Inc
Meta Platforms did not correct as much as the index, but it did make an engulfing bear candle against top resistance!
Occidental Petroleum Corporation
Occidental Petroleum is not in a positive trend yet. Institutions buy stocks with potential when it is low. It is close to bottom support, and it does have a healthy Trend Factor.
JSE Stocks
JSE All Shares
The JSE All Shares will most probably follow the US lower today to extend the negative that is forming.
Afrimat Ltd
Afrimat made about 7 attempts to break a strong top resistance and then took the path South. It now closed below its 200-day moving average to be in all negative territory.
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.
