Bounce on US Markets Watched

TAGS: Software for stock analysis

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News in Brief

Bloomberg:

  • Stocks snap back after four-day slide; bonds fall.
  • Buffettt’s Berkshire rallies to record high on earnings beat.
  • Global bonds fall on threat of further rate hikes.
  • China is losing out as Global funds chase returns in Japan stocks.

MarketWatch:

  • Opinion: Tesla loses an adult in the room with sudden departure of its CFO.
  • A $1.8 trillion wall of corporate debt coming due could cost jobs, Goldman warns.
  • Palantir announces $1 billion buyback program, stock rises after earnings.
  • S&P 500 in danger of breaching support as tech momentum wanes, says analyst.
  • Tesla’s chief financial officer leaving company after 13 years.

yahoo! finance:

  • Apple stock buybacks still in full swing – good news for Buffett.
  • Lucid misses on Q2 revenue, earnings.
  • Stocks eye rebound from rough start to August.
  • Tyson foods posts sales miss will close more chicken plants.

The current bounce on the US markets is watched to see if it will last after a rough start in August. Earnings are still dominating the US markets.

Global Indexes

S&P 500

The S&P 500 made a bounce in oversold territory but is still trading below its EMA8 and short-term negative trend lines.

DAX

The DAX remains uncertain, in oversold territory, with a 0% move.

HANG SENG

The HANG SENG dropped below its 200-day moving average with its 50-day moving average (dark blue) still acting as support. Its short-term negative trend line is still in play.

NYSE & NASDAQ Stocks

Berkshire Hathaway B Inc

Berkshire Hathaway is rewarded for good results to break top resistance. Its positive trend remains in play.

Boeing Co

Boeing made a small J-curve in overbought territory and is now busy completing the pattern. Frontrunner predicted a week earlier that new highs are coming!

JSE Stocks

JSE All Shares

The JSE All Shares was closed when the US made its positive move. It was very uncertain about direction with a small-body long-legged candle.

Sappi Ltd

Sappi stole the limelight on the JSE with its 7.8% gain. It still has a strong negative trend line hurdle ahead.

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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