Stocks Slide

TAGS: Market analysis South Africa

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News in Brief

Bloomberg:

  • Stocks slip as June rate pause optimism fades.
  • BofA strategist see recession spoiling the tech-stocks party.

MarketWatch:

  • The S&P 500 is top-heavy with tech.
  • Stock Market Today: Dow, S&P 500 suffer back-to-back weekly losses.
  • Opinion: Elon Musk’s new Twitter CEO faces uphill battle as ‘a textbook case of the glass cliff’.

yahoo! finance:

  • Elon Musk names Linda Yaccarino Twitter CEO.
  • Stocks slide after sentiment, inflation data.
  • American’s economic worries could make a debt default worse.

Rand tumbles after US accuses South Africa of arming Russia. When you see smoke, there is usually a fire!

Global Indexes

S&P 500

The S&P 500 closed in the center of its sideways channel on its EMA8 line.

DAX

The DAX closed with an uncertain doji, also inside its sideways channel.

HANG SENG

The HANG SENG is busy breaking its large triangle downwards.

NYSE & NASDAQ Stocks

Amazon.com Inc

Amazon.com made an engulfing bear candle against resistance.

First Solar Inc

First Solar made a large breakaway gap with its 26.5% gain that broke 3 resistance line in one day’s move.

JSE Stocks

JSE All Shares

Its 50-day moving average is still acting as support for the JSE All Shares. A flag is busy forming slowly trending downwards. Most of this gain comes from a sliding Rand lifting Rand hedges due to the arms allegation.

Sasol Ltd

Sasol made an engulfing bull candle on strong support that has been touched 6 times. It however needs to break the negative trend line and 50-day moving average. The latest bounce is with divergence in place.

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.

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