TAGS: Software for stock analysis
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News in Brief
Bloomberg:
- China is losing out as Global funds chase returns in Japan stocks.
- S&P 500 wipes out almost 1% gain; Bond yields drop.
- Apple loses historic $3 trillion crown as sales disappoint.
- BofA clients turn cautious, flee from stocks on recession risks.
MarketWatch:
- Dow, S&P 500 snap 3-week winning streak as stocks fall after US jobs report, big tech earnings.
- Amazon’s stock is now a better play than Apple’s, according to analyst.
- Apple’s stock trend is no longer its friend.
yahoo! finance:
- ‘Barbie’ makes history with $1 billion at the box office.
- Apple plummets as hardware slowdown cast shadow over earnings.
- Stocks flip into red to end rough week.
- This jobs report shows the post-pandemic labor market is over.
- Americans owe a record $1 trillion in credit card debt.
Not all shares are correcting, only those that did not beat their earnings target with poor future estimates.
Global Indexes
S&P 500
This earnings season clearly broke the positive trend of the S&P 500. It is trading below its EMA8 line in a negative trend.
DAX
The DAX has a lot of uncertainty with 3 small body candles next to each other. The last one is a hammer candle. It however remains in negative territory below its EMA8 and 50-day moving average lines.
HANG SENG
The HANG SENG is desperately trying to stay above support to maintain a positive trend, trading with a doji just above its 200-day moving average.
NYSE & NASDAQ Stocks
Apple Inc
Let’s show the bad news first. Apple broke its positive trend line 2 days before its earnings report as selloff started (insider information). After the results it made a breakaway gap downwards. Notice where the MACD turned red!
Amazon.com Inc
Amazon.com, in contrast made a breakaway gap to the positive side after its results. Notice that the bounce took place on its positive trend and 50-day moving average lines.
JSE Stocks
JSE All Shares
The US selloff came after the JSE All Shares was closed. We will have to see if it follows the US today as its MACD is red.
Standard Bank Group Ltd
Standard Bank made a breakaway gap to close above its previous high.
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.
