TAGS: How to analyse shares and stocks
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News in Brief
Bloomberg:
- European stocks drop as weak China data weighs on luxury sector.
- Morgan Stanley’s Wilson says too much optimism in stock prices.
MarketWatch:
- Warner Bros. Discovery says strikes could weigh heavily on earnings.
- Stock market ‘exceptionally’ unlikely to climb this year to record peak, says Stifel’s Barry Bannister.
- US stocks mostly lower in return from Labor Day weekend.
- Blackstone marks ‘another important milestone’ with S&P 500 inclusion.
- Brent crude jumps above $90 a barrel as Saudis and Russians extends supply cuts.
yahoo! finance:
- The AI market will be worth $600 billion, Nvidia exec says.
- Oil prices are up 25% since June.
- Stocks edge lower amid China data gloom.
- Warner Bros Discovery expects lower core profit due to strikes ($300m-$500m).
US factory orders plunged in July after 4 months of gains, adding more negative sentiment to stocks.
Global Indexes
S&P 500
The S&P 500 is showing signs of a correction with Frontrunner breaking down and the MACD changing color. It is however still above its support lines.
DAX
The DAX closed below its EMA8 line with a correction that started with a doji against its 50-day moving average.
HANG SENG
Similarly, the HANG SENG is also trading below its EMA8 line with Frontrunner breaking down and the MACD changing color. If these corrections continue it will be a leg c forming of an abc correction.
NYSE & NASDAQ Stocks
Caterpillar Inc
Caterpillar made an engulfing bear candle against top resistance with divergence in place. This indicates that we will not see a top resistance break.
Berkshire Hathaway B Inc
A similar move for Berkshire Hathaway with divergence in place.
JSE Stocks
JSE All Shares
The JSE All Shares is also showing signs of a correction starting with a downwards piercing candle.
Shoprite Holdings Ltd
After two long-legged doji’s against top resistance, Shoprite took a plunge downwards. Notice where the MACD turned red and Frontrunner broke down. It closed just above its 50-day moving average.
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.
