TAGS: How to analyze shares and stocks
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News in Brief
Bloomberg:
- Bond yields jump as hot inflation curbs Fed Wagers.
- Big lithium short gets ‘dangerous’ on lower supply outlook.
MarketWatch:
- Option trades to exceed stocks for first time since 2021 as $5 trillion in contracts come due Friday.
- Nvidia’s stock continues pullback even as analysts are getting more bullish.
- Inflation data sinks stocks on doubts Fed will deliver three rate cuts this year.
- Adobe had a strong quarter, but stock sinks as analysts want more digital-media revenue.
yahoo! finance:
- The odds of an interest rate cut in June slipped slightly after Thursday’s PPI data indicated the Fed’s fight against inflation may not be over.
- Stocks slump after another sign inflation’s sticking around.
- United Airlines close to leasing Airbus jets: Bloomberg.
- JPMorgan fined $348 m for the way it monitors trading.
More hot inflation data stalled markets.
Global Indexes
S&P 500
Inflation data stalled the S&P 500, even with a P2 Power Signal. The 5180 level is busy building a strong resistance with 4 touches.
DAX
Its 18000 level is becoming a similar resistance for the DAX.
HANG SENG
Its 17137 level is a strong resistance for the HANG SENG. It made a breakaway gap downwards from this level to currently trade below its EMA8 line.
NYSE & NASDAQ Stocks
JPMorgan Chase Co
When you run Spotlight you will notice quite a few shares giving P2 Power exhaustion signals. JPMorgan is one of them with Frontrunner trending down and a MACD that turned red. The 14 week positive run is exhausted.
Chevron Corporation
Chevron broke its 200 DMA to be back in all positive territory with a MACD turning green. Notice where Frontrunner broke up with a MACD changing color.
JSE Stocks
JSE All Shares
Its 200 DMA resistance was just too strong for the JSE All Shares as it bounced down from it. We also adjusted our negative trend line to incorporate this. We also have a Frontrunner breaking down with a MACD changing color in overbought territory.
Standard Bank Group Ltd
When Standard Bank touched top resistance several times with a Frontrunner breaking down and a MACD changing color in overbought territory, the writing was on the wall. It then broke its positive trend line and took the road downwards. It broke its 200 DMA yesterday with a 6.8% drop.
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.
