Markets are Correcting Globally

TAGS: How to analyse shares and stocks

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News in Brief

Bloomberg:

  • US stocks, bonds fall as debt impasse continues.
  • Stocks slide as sentiment on global outlook sours.
  • Schwarzman, IMF Chief are confident of US debt deal.
  • Chinese stocks wipe out 2023 gains as headwinds intensify.

MarketWatch:

  • Nvidia barrela toward rare $1 trillion valuation after putting a dollar figure on AI boost.
  • Microsoft’s Nadella: AI is taking the computer age from ‘the bicycle to the steam engine’.
  • Dow down as debt-ceiling fight sours sentiment.

yahoo! finance:

  • Stocks slide as debt ceiling talks drag on with no deal in sight.
  • Analog Devices shares fall after weak revenue forecast.
  • Bullard sees more hikes, Biden consider 14th Amendment.

Markets do not like uncertainties and when at overbought levels, corrections were to be expected. There is heavy downside pressure on Chip stocks.

Global Indexes

S&P 500

The S&P 500 made a breakaway gap downwards as selling pressure builds up. Its EMA8 line is also broken.

DAX

Similar for the DAX.

HANG SENG

The HANG SENG broke its 200-day moving average with a gap and followed it up with another gap.

NYSE & NASDAQ Stocks

Colgate-Palmolive Company

Some shares, like Colgate-Palmolive, has been in a correction mode for while. Notice the sequence:

1 Frontrunner breaks down in overbought territory.

2 Positive trend line gets broken next.

3 Finally the MACD turns red. Its changing color was close to the Frontrunner break.

Berkshire Hathaway B Inc

Berkshire Hathaway bounced down from top resistance to close on its next support level. Will it hold? Notice where the MACD turned red.

JSE Stocks

JSE All Shares

The JSE All Shares broke its flag downwards. Frontrunner is predicting further lows to follow and notice where the MACD turned red.

BHP Group Ltd

BHP Group started its correction with a Frontrunner break and an engulfing bear candle. It then made a breakaway gap with the MACD turning 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.

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