TAGS: Software for stock market analysis
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News in Brief
Bloomberg:
- Asian stocks fall, oil gains on Mid-East tensions.
- S&P 500 falls 1% as oil jump spurs flight to bonds.
- Tech leads stock gains in run-up to US jobs report.
MarketWatch:
- Dow’s worst day in a year follows talk of no rate cuts in 2024, oil-price spike.
- Opinion: The bulls still have what it takes to pull stocks back up.
- Apple to lay off more than 600, weeks after canceling electric-vehicle project.
- Jobless claims climb to nine-week high of 221,000 – but there’s little sign of a worsening US labor market.
- US trade deficit widens for third straight month in February.
- Amazon scores record valuation for the first time since 2021.
yahoo! finance:
- Stocks sink after Fedspeak as eyes turn to jobs report.
- Disney to start cracking down on password-sharing.
At opening we had a market bounce with tech leading the gain, but after Fedspeak the stocks sunk. Rate cuts are under threat if inflation progress.
Global Indexes
S&P 500
What started off as a positive for the S&P 500 turned into an engulfing bear to close well below its EMA8 line.
DAX
The DAX was still positive and could not react to the US move as it was closed.
HANG SENG
All Asia stocks are reacting negative with the HANG SENG trading below its EMA8 line.
NYSE & NASDAQ Stocks
Alphabet Inc
Google only managed to close 3 times above its top resistance. This is seen as a false break, and it now broke its positive trend line with a P2 Power Signal downwards.
Berkshire Hathaway B Inc
Berkshire Hathaway also stalled at top resistance with an engulfing bear candle. It has all the makings of start to a double top.
JSE Stocks
JSE All Shares
The JSE All Shares also did not have time to react to the US move and was still moving strong.
Impala Platinum Holdings Ltd
Impala Platinum was one of the strong movers and closed on its 200 DMA resistance. If it can cross this it will be back in all positive 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.
