Markets are Correcting

TAGS: Software for stock market analysis

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News in Brief

Bloomberg:

  • Blood in the streets is an overrated buying signal.
  • Top Asia IPO gainers are in Japan as Nation lures global funds.

MarketWatch:

  • Stocks market slumps as investors realize rates will be higher for longer.
  • Opinion: Stocks are overbought, yes but don’t sell yet.
  • Meta’s Threads could be a ‘Twitter killer’ – or could be a dud.
  • Google reportedly culls Twitter links from search results after Musk limits acess.

yahoo! finance:

  • Threads hits 30 million users, putting Musk’s Twitter on notice.
  • Jobs market sizzles as private hiring surges, layoffs tumble.
  • Volkswagen to launch self-driving vehicles in Texas.

All global markets are correcting and most with a double top.

Global Indexes

S&P 500

The S&P 500 made a breakaway gap downwards and is hanging on for dear life with a hammer candle on its EMA8 line.If the double top play out we could see a correction to the 4170 level?

DAX

The DAX made a serious correction with a breakaway gap and a large bearish candle.

HANG SENG

The HANG SENG made its breakaway gap yesterday and followed it up with another gap.

NYSE & NASDAQ Stocks

Paypal Holdings Inc

Paypal is reversing with a double top and divergence. Notice that this is happening at its previous gap downwards.

Amazon.com Inc

Amazon.com also made a breakaway gap downwards, but with an uncertain doji. Notice all the doji’s and longlegged small bosy candles the past 8 days.

JSE Stocks

JSE All Shares

The JSE All Shares followed global markets and even closed below its 200-day moving average.

Anglo American Platinum Ltd

Anglo American Platinum was the biggest loser on the JSE with its 5.9% drop. This share has now dropped 43.6% for the past year.

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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