TAGS: Tools to analyze stocks
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News in Brief
Bloomberg:
- Bill Gross scoops up regional bank stocks.
- A Schwab divorce from bank could unlock value, JPMorgan says.
MarketWatch:
- Bitcoin might benefit from US debt ceiling concerns, analyst says.
- Tech hardware was already struggling but, ‘market conditions have deteriorated’ even more.
- Apple’s new savings account is more bad news for banks, Moody’s says.
- Elon Musk loses $12.6 billion in one day as Tesla shares tumble, SpaceX rocket blows up.
yahoo! finance:
- Tesla price cuts could benefit Mercedes, BMW.
- Dat traders lose $358,000 per day gambling on zero-day options.
The stock market is still rising although there’s so much bad news. Not the time to be brave, rather wait for clear direction.
Global Indexes
S&P 500
The S&P 500 closed slightly higher with another long-legged doji on its EMA8 line. The uncertainty at this level remains.
DAX
The DAX also bounced off its EMA line for a bullish move, but still below resistance.
HANG SENG
The HANG SENG gave up on its uncertainty and broke its 50-day moving average support to establish a downward trend.
NYSE & NASDAQ Stocks
Amazon.com Inc
Although many shares are correcting, some shares are still gaining like Amazon.com. It has reached its 200-day average again and closed on it. Notice what happened the last time it tried to break its 200-day moving average.
Advanced Micro Devices Inc
Advanced Micro Devices reached its 50-day moving average and long term positive trend line with its correction. In doing so it is now in oversold territory. We will have to see if the support will hold.
JSE Stocks
JSE All Shares
The JSE All Shares gave up its uncertainty and broke its positive trend line downwards after the doji.
Kumba Iron Ore Ltd
Kumba Iron Ore made the biggest correction on the JSE that broke all support. It broke its positive trend line, 50-day and 200-day moving averages in one day to close in all negative territory. Notice where the sell Power Signal was given.
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.
