TAGS: How to analyze shares and stocks.
Free Subscription: Subscription is necessary to receive an email when market reviews are posted.
News in Brief
Bloomberg:
- Stocks in Asia drop on weak oil, China debt woes.
- S&P 500 trims ADP-Fueled gains as oil tumbles.
- India stocks value tops $4 trillion, Narrowing gap with Hong Kong.
MarketWatch:
- Dow Jones, S&P 500 end lower for third day as investors await more labor-market data.
- AbbVie to buy Cerevel Therapeutics in $8.7 billion all-cash deal.
- As Ukraine aid falters in Senate, Biden signals he’s willing to make deal on border security.
- German stocks rise after ending at record high.
yahoo! finance:
- Stocks close lower, oil hits lowest levels since June.
- Fed rate cut is premature: Money manager.
As oil hits lowest levels since June, it is dragging all oil related shares down with it. Global markets are all in different directions, not moving together, causing very uncertain markets.
Global Indexes
S&P 500
Two days after the P2 Power Signal the S&P 500 made an engulfing bear candle. All this is still happening inside the flag that is forming. A breakout out of the flag will show new direction.
DAX
The DAX and Euro markets are doing their own thing and extended their positive trend.
HANG SENG
The HANG SENG is still extending its negative trend line.
NYSE & NASDAQ Stocks
JPMorgan Chase Co
JPMorgan gave a P21 Power Signal at top resistance in overbought territory with an engulfing bear candle. Profit taking stepped in at this level.
Halliburton Co
HAL continued its correction and broke its 200 DMA support. Frontrunner indicates that more lows are coming.
JSE Stocks
JSE All Shares
Similar to the S&P 500 the JSE All Shares is still inside the flag it is forming. It closed on its 200 DMA.
Sasol Ltd
Sasol is in free fall with the oil price. We only see a support at R150. Notice the accurate P2 Power Signal that was given before the correction!
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.
