Global Markets Bounce DOWN

TAGS: Tools to analyze stocks

Free Subscription: Subscription is necessary to receive an email when market reviews are posted.

News in Brief

Bloomberg:

Asian stocks decline as bank woes hit US shares.
Wall Street rattled by 15% tumble in pair of banks.
Alibaba’s faded rally signals grim outlook ahead.

MarketWatch:

Fed may pause ‘for an extended period of time’ after interest-rate hike, BlackRock’s Rick Rieder says.
Starbucks stock sinks as new CEO sticks with predecessor’s forecast despite earnings beat.
AMD stock is sliding after earnings.
‘AI for us is broader than cloud’, AMD CEO tells analysts, but chip maker still needs PC recovery to improve margins.

yahoo! finance:

Stocks moving in after-hours: Ford, Starbucks, AMD.
Half of America’s banks are potentially insolvent.

We had a selloff against top resistances for ALL Global Markets. You can tighten your belt for a rough ride during May.

Global Indexes

S&P 500

The S&P 500 doji was confirmed against top resistance with a selloff to close below its EMA8 line.

DAX

The DAX also had a selloff against top resistance and also closed below its EMA8 line. So did all the global indexes.

HANG SENG

The HANG SENG opened with a breakaway gap downwards.

NYSE & NASDAQ Stocks

Bank of America Corp

All the banks are correcting, and Bank of America did so with a gap. Notice that its MACD turned red and all trend lines are heading down.

Exxon Mobil Corporation

Exxon Mobil’s attempt to break top resistance failed and ended with a breakaway gap downwards. It even closed below its 50-day moving average in negative territory.

JSE Stocks

JSE All Shares

The turning candle of the JSE All Shares was confirmed with a negative candle. Frontrunner is showing the direction and the MACD has just turned red.