TAGS: Software for stock market analysis
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News in Brief
Bloomberg:
- Asian stocks slip as rate cut hopes begin to fade.
- Stocks fall on fears rate cuts will be delayed.
- Deutsche bank says Glencore may weigh listing move to US.
- Chinese stocks in Hong Kong jump in catchup rally after holidays.
- Stocks join losses in bonds as Fed-cut wagers fade.
MarketWatch:
- Inflation concerns reverberate for second day, putting a 5% 10-year treasury yield on the map.
- Dow industrials down 450 points with treasury yields near four-month highs.
- Fears over persistent inflation resurface in US Treasury market, ushering in volatility.
- US oil benchmark tops $85 a barrel as Middle East tensions escalate.
- World Central Kitchen suspends Gaza operations after apparent Israeli strike kills seven aid workers.
- Opinion: Tesla’s delivery woes suggest the EV maker has an Elon Musk problem.
yahoo! finance:
- Tesla’s big delivery miss caps off terrible quarter.
- Stocks open in sea of red as yields touch 2024 highs.
- Tesla sinks after big delivery miss.
- Apple investors seek signs the worst is over.
- Oil prices lifted by forecasts for extended OPEC+ cuts.
- Intel discloses $7 billion operating loss for chip-making unit.
Markets were not happy with the higher inflation and profit taking stepped in. We must be weary that this does not turn into a major sell-off.
Global Indexes
S&P 500
The S&P 500 closed with a downward gap and an uncertain doji just below its EMA8 and trend lines.
DAX
The DAX came much more aggressively down to close just above its EMA8 and trend lines.
HANG SENG
The HANG SENG gain was negated today as the index followed the US lower.
NYSE & NASDAQ Stocks
General Electric Company
The acquisition of Alstom’s power business had proven disastrous for General Electric to cause the share to drop 22.2% and close below support. Frontrunner is predicting further downside. Notice where the MACD turned red, not a signal to ignore.
Home Depot Inc
The downward spiral for Home Depot started with a piercing candle, Frontrunner breaking down and a MACD that turned red. It closed below its 50 DMA support to be in negative territory.
JSE Stocks
JSE All Shares
The JSE All Shares also closed uncertain with a High Wave candle just above its 200 DMA.
Satrix RESI Portfolio
The Satrix RESI was still moving strong with another gap. This could turn out to be an exhaustion gap as Frontrunner is not confirming the move with divergence in place. This is happening in overbought territory at two previous highs.
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.
