TAGS: Software for stock analysis
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News in Brief
Bloomberg:
- Alibaba’s options signal optimism ahead of earnings.
MarketWatch:
- Tech stocks are headed for their worst strech since December, threatening to unravel 2023’s stock-market rally.
- Ford is going all in on hybrids.
- Opinion: Market bears are on the prowl and stocks are in danger.
- US inflation rate creeps back up, CPI shows, but probably not enough to worry the Fed.
- US initial jobless claims rise to highest level in a month.
- Twitter was fined $350,000 for not complying with search warrant for Trump’s account.
yahoo! finance:
- Stocks climb as inflation trends stay positive.
- Alibaba stock rises after positive Q1 earnings.
- Disney’s password crackdown shows how it’s still chasing Netflix.
The CPI data in the US gave markets a positive global boost, but it did not last a full day in the US as can be seen on the DOW in the heading.
Global Indexes
S&P 500
The S&P 500 lifted vits head at opening to try and break its negative trend, but at the end of the day it was back to its support below its negative trend line. Notice that Frontrunner is still happily moving downwards with no MACD color change. It is however still in oversold territory.
DAX
The DAX responded more positively but could not break its 50-day moving average.
HANG SENG
The HANG SENG tried to lift its head, only to be clobbered back below its 50-day moving average in negative territory.
NYSE & NASDAQ Stocks
Alibaba Group Holdings Ltd
The results of Alibaba gave it a gap upwards, but it made a high wave candle. See lesson 9 on the explanation of a high wave candle.
Microsoft Corporation
High tech stocks remain in a negative trend like Microsoft below a very tight trend line. It is however in oversold territory, but best to wait for a break as confirmation of a turn.
JSE Stocks
JSE All Shares
The JSE All Shares bounced with the Euro stocks, and we will have to see if it lasts after the US fall back.
Sasol Ltd
The strong Brent Crude price finally lifted Sasol with a gap. It closed just above its 200-day moving average in all positive territory. Notice how long its MACD has been trending green.
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.
