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:
- Asia mixed as rate cur doubts hit US stocks, bonds.
- Stocks drop as solid data fuel Fed-pivot repricing.
- China stock rout deepens as data stoke recovery concerns.
- Asia stocks decline led by Hong Kong, Dollar gains.
MarketWatch:
- Dow suffers third straight day of losses as S&P and Nasdaq also fall.
- Retail sales jump in December: Good holiday-shopping season shows strength of US economy.
- Apple and Tesla may no longer be ‘safe investments’ as China’s troubles grow.
- Barron’s: Oilprices fall as slowing China growth could dent demand.
- Hang Seng leads selloff for Asia stocks, with nearly 4% slump after China data.
yahoo! finance:
- Stocks extend losses as bets on Fed rate cuts ease.
- Apple banned again from selling select watches.
- December retail sales beat to cap strong 2023.
- Salesforce CEO says AI is shaping the future.
- US futures fall amid rate-cut reality check.
Poor China data and Fed rate cuts ease are sending global markets south with oil prices dropping. It is only the Nikkei that remains in all positive territory.
Global Indexes
S&P 500
The S&P 500 closed with an uncertain doji below its EMA8 line. It has all the makings of a double top correction, but still inside a sideways channel.
DAX
The DAX made two gaps downwards to close just above its 50 DMA.
HANG SENG
The current negative trend of the HANG SENG with its factory miss data causing a breakaway gap. More poor data created another gap with a large bearish candle. It is trying to get some support today in all negative territory.
NYSE & NASDAQ Stocks
Caterpillar Inc
CAT made another gap downwards to close below its positive long-term trend line. Notice where Frontrunner broke down with the MACD changing color a day later. It is already busy with leg c of an abc correction.
Home Depot Inc
After a 30% bullish run Home Depot is giving a P2 sell Power Signal. Notice that it did give 2 previous P2 sell signals that were not confirmed. Best to wait for the next day’s confirmation.
JSE Stocks
JSE All Shares
The JSE All Shares is following global markets lower with its abc correction. It is moving into oversold territory.
Sibanya Stillwater Ltd
Sibanya Stillwater took the honors with its 6.1% drop for the day. This was also the worst performer of 2023, recommendation of some fund managers … how wrong can you be? Notice that its yearly return is -57.2%.
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.
