TAGS: Software for stock market analysis
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News in Brief
Bloomberg:
- China stocks close to erasing politburo gains amid economic woes.
- Tech giants keep a lid on stocks as yields climb.
- US Treasuries on track for record year of inflows, BofA says.
MarketWatch:
- The market needs a lot more to worry about for stocks to rise from here.
- Tech stocks log worst stretch of losses since December while threatening to unravel 2023’s stock-market rally.
- AMC shares fall 27% after court OKs revised stock-conversion plan.
- Economists are more optimistic about GDP and jobs.
- Rivian, Lucid and XPeng make list of 20EV companies expected to grow sales most quickly through 2025.
yahoo! finance:
- Nasdaq slips, Dow rises as traders weigh inflation data.
- Chinese electric car giant declares war on Western rivals.
- Disney is following Netflix’s lead on a password-sharing.
Markets are held back by the correction of the big tech giants. Stocks in Asia are all negative today.
Global Indexes
S&P 500
The S&P 500 is now close to its long-term support in very oversold territory. It is the tech shares correction that keeps the bears in control.
DAX
The DAX is busy with leg c of an abc correction. Notice how the 50-day moving average acted as resistance for leg b.
HANG SENG
The HANG SENG opened today with a large gap down to be back in all negative territory.
NYSE & NASDAQ Stocks
Meta Platforms Inc
Since Meta Platforms turned at its $325 level the bears took control. No sign of a turn yet.
Texas Instruments Incorporated
Texas Instruments is showing the first signs of a turn with 3 hammer candles and one inverted candle in 4 days. Notice that we have unconfirmed divergence in place.
JSE Stocks
JSE All Shares
The JSE All Shares reversed the positive move of the previous day, following global markets lower.
Investec PLC
The financial sector is still strong on the JSE. Investec is however struggling at its R115 level. If it breaks this level, it will move to its R119 level. We do not like the unconfirmed divergence of Frontrunner that is in place in semi overbought 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.
