Bounce only Lasted 1 Day

TAGS: Software for stock market analysis

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News in Brief

Bloomberg:

Investors least bearish on stocks since pre-Fed hikes, BofA says.
Forget about a catch-up rally in UK stocks, HSBC strategist say.

MarketWatch:

This bull market isn’t finished yet, but stocks could lose up to 10% from here.
The S&P 500 is flashing a warning that US stocks are likely headed lower after breaking below its 50-day moving average.
Tesla launches cheaper, shorter-range Model X, Model S EVs.
Intel set to call off $5.4 billion purchase of Tower Semiconductor: report.

yahoo! finance:

Stocks sink as China woes spark global sell-off.
Home Depot CEO: 2023 could take a turn for the worse.

Global sell-off took place due to China woes.

Global Indexes

S&P 500

It is not a good sign that the S&P 500 closed below its 50-day moving average. If the bearish trend continues, we could see more downside.

DAX

The DAX also had a sell-off touching strong support. Still busy with leg c of an abc correction.

HANG SENG

The HANG SENG made another gap down heading towards its next support at 18100. Bears are in full control.

NYSE & NASDAQ Stocks

Paypal Holdings Inc

After breaking its 50-day moving average Paypal only knows one direction and that is down. It is now close to its 2017 levels.

Eli Lilly and Co

Eli Lilly did not join the selloff and is still making new highs after Frontrunner predicted this move. Be careful however as we now have divergence in place.

JSE Stocks

JSE All Shares

The JSE All Shares joined the global selloff and is also busy with leg c of an abc correction.It is also busy breaking its 200-day moving average downwards.