TAGS: Software for stock analysis
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News in Brief
Bloomberg:
- S&P 500 has worst day since April after big rally.
MarketWatch:
- Apple savings account racks up $10 billion in deposits since April debut.
- Opinion: America’s on a ridiculous path, with plenty of downgrades to come.
- US AAA debt rating get a downgrade by Fitch; White House says move ‘defies reality’.
- Bed Bath & Beyond is back, but ‘much bigger, better,’ Overstock says.
- Judge assigned to Trump’s Jan 6 case is a tough punisher of Capitol rioters.
yahoo! finance:
- US credit downgrade sink stocks.
- Credit downgrade ‘likely to be dismissed ‘ by DC.
- Caterpillar joins the Fed in pushing back recession fears.
- Apple heads for largest Q3 revenue drop since 2016 as iPhone sales slow.
The downgrade by Fitch activated a selloff on the US markets.
Global Indexes
S&P 500
The Fitch downgrade made the S&P 500 break its EMA8 and positive trend lines with a breakaway gap.
DAX
The DAX also made a downward gap and stalled with a long-legged doji on its 50-day moving average.
HANG SENG
The HANG SENG is currently trading on its 200-day moving average. We will have to see if this support will hold or whether it will fall back into all negative territory.
NYSE & NASDAQ Stocks
Solaredge Technologies Inc
Solaredge Technologies made a 18% gap downwards, but this share has been in a negative trend for a long time. Notice the Trend Factor and that Frontrunner is predicting further lows.
Microsoft Corporation
Microsoft Corporation extended its negative trend below its 50-day moving average. Its long-term positive trend line is also broken.
JSE Stocks
JSE All Shares
The JSE All Shares made a massive 2.8% drop to close on its 50-day moving average.
MTN Group Ltd
After its uncertain long-legged doji MTN made a 7.7% drop to close below all support to be back in all negative territory.
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.
