TAGS: Technical analysis
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News in Brief
Bloomberg:
- TSMC bulls ignore Buffett’s warning for bet on coming AI age.
- Wall Street doom prophesy falls flat on hottest rally since 2016.
- Blackrock, Man Group reveal big Japan bets before BOJ decision.
MarketWatch:
- Stock market to face reality check when Fed updates its interest-rate forecast.
- US economy faces 1970s-style stagflation as inflation sticks around.
- Helium has been in rally mode.
- Nvidia led Phase 1 of the AI trade. These are the next three, says Goldman Sachs.
- Micron’s stock could rocket 60%, says the new biggest bull on Wall Street.
- Adobe’s stock slides toward worst day in 18 months, as AI story will take time.
yahoo! finance:
- All eyes on the Fed.
- Bond traders surrender to Fed’s higher-for -longer reality from the Fed.
- AI could reshape as budgets and marketing strategies.
- Wall Street’s doom prophesy is falling flat.
- Stocks slip for a second week with Fed on horizon.
Corrections were still the order of the week on global markets with uncertainty on all the markets about direction.
Global Indexes
S&P 500
The S&P 500 closed below its EMA8 line on our medium-term trend line with an indecision high wave pattern.
DAX
The uncertainty is also visible on the DAX with a doji.
HANG SENG
The HANG SENG closed with a gap on its EMA8 line on Friday. It is still hanging on its EMA8 line today uncertain about direction.
NYSE & NASDAQ Stocks
Adobe Systems Incorporated
Markets have no sympathy with bad news. Adobe fell 13.7% after announcing that its AI will take time. Notice that it stalled against its 50 DMA (dark blue) and is now back in all negative territory below all resistances.
Amazon.com Inc
Amazon.com is also struggling against top resistance that has been touched 4 times. Its Frontrunner is still heading down with a red MACD.
JSE Stocks
JSE All Shares
The JSE All Shares followed global markets lower to be in all negative territory.
Impala Platinum Holdings Ltd
Impala platinum is continuing its positive trend with a 4.5% gain. It is however moving into overbought territory.
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.
