TAGS: Tools to analyze stocks
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News in Brief
Bloomberg:
- S&P 500 hits all-time high in historic bull run.
- China’s $6.3 trillion stock selloff is getting uglier by the day.
- China’s mutual funds implode at fastest pace in five years as stocks sink.
MarketWatch:
- S&P 500 closes at first record high in two years as tech fuels US stocks.
- Traders give up on a March rate cut by Fed as bond-market inflation expectations move higher.
- Layoffs and unemployment rate stay low even as jobs market shows cracks.
- McDonald’s stock rises to a record, brushing off investor worries about sales.
yahoo! finance:
- Dow, S&P 500 hit record highs as tech stocks soar.
- Fed’s Daly: ‘Premature’ to think rate cuts are around the corner.
- Netflix expected to outpace Q4 new subscribers estimates.
Many of the ‘magnificent seven’ stocks made gaps or strong gains. We will show some of the P1 Power Signals highlighted by our Spotlight explorer.
Global Indexes
S&P 500
The S&P 500 closed at a new historic high without any resistances above. We adjusted our long-term trend line to include the recent bottoms.
DAX
The DAX was still hanging around its EMA8 line as it was closed when the US made its onslaught on the all-time high.
HANG SENG
It is only the HANG SENG that is not responding positively to the S&P’s historic brake this morning. This index remains in all negative territory while the Nikkei made a positive gap.
NYSE & NASDAQ Stocks
Advanced Micro Devices Inc
Listed on the S&P 500 AMD has the 6th best trend factor (NVIDIA is no. 1). It was the best performer on Friday and it broke its top resistance with a 7.1% gain. We have marked the P1 Power signals together with a MACD that turned green after a correction. The long-term bull trend for this share started at the end of October 2023.
Broadcom Ltd
AVGO is a share that gives very accurate P1 Power Signals. It attacked top resistance with 2 gaps. Again, we show the P1 Power signals and where its MACD turned green. These are simple but powerful signals to use for timing together with the overbought/oversold indicator. Always use the KISS principle (Keep It Simple Stupid). Notice how the trend candles turned green to help with confirmation.
JSE Stocks
JSE All Shares
Similar to the DAX the JSE All Shares was closed and could not react to the US move. It is however influenced by the poor China index.
FirstRand Ltd
FirstRand bounced off its 200 DMA in oversold territory with a P1 Power Signal and a MACD that changed color. This is happening after an abc 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.
