TAGS: Tools to analyze stocks
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News in Brief
Bloomberg:
- Wall Street rattled by 15% tumble in pair of banks.
- Morgan Stanley, UBS pick bonds over stocks on recession risk.
- Icahn Enterprises drops to decade low as rout from short report deepens.
MarketWatch:
- PacWest stock plummets more than 50% after report of potential sale; other banks fall too.
- China’s Caixin manufacturing PMI slips into contraction for April.
- ‘Deposits are going to keep drifting out’, says DoubleLine’s Gundlach, warning of echoes of S&L crisis at banks.
- Fed’s Powell says US banking system is ‘sound and resilient’ after First Republic failure.
yahoo! finance:
- PacWest stock falls 58% as it explores sale, capital raise.
- Apple to Chevron: these are Warren Buffett’s biggest holdings.
Powell is trying to calm markets, but the Bank Crisis seems to be far from over, dragging the markets down.
Global Indexes
S&P 500
After the doji at top resistance the S&P 500 started a correction trend.
DAX
The DAX is hesitating on its EMA8 line while all indicators are heading down.
HANG SENG
The HANG SENG is also hesitating but doing so below its EMA8 line.
NYSE & NASDAQ Stocks
Alphabet Inc
Alphabet is at strong resistance making a high-wave uncertain candle. Notice that its MACD turned red 2 weeks previously.
Estee Lauder Companies
Estee Lauder made a 17% breakaway gap downwards with Frontrunner predicting further lows are coming. Notice that the MACD tuned red 5 days previously. NEVER ignore a red MACD!
JSE Stocks
JSE All Shares
The JSE All Shares is still floating just above its 50-day moving average which is acting as support. If this index follows the US today, this support will be broken. Notice that its MACD turned red!
Exxaro Resources Ltd
Exxaro also made a breakaway gap downwards to extend its negative trend. Frontrunner is predicting further lows and its MACD is red.
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.
