TAGS: Stock market analysis made easy.
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News in Brief
Bloomberg:
- Allianz says Japan stocks will defy geopolitics, Yen volatility.
- ‘Mag Seven’ gets crushed before next week’s results.
- Super Micro and Nvidia slump as AI winners lead tech selloff.
MarketWatch:
- Ukraine and Western allies praise US aid package as Russia warns of ‘further ruin’.
- Nvidia’s stock plunge leads ‘Magnificent Seven’ to historic weekly market-cap loss.
- S&P 500 posts longest string of daily losses since October 2022.
- Big banks have been a bright spot in tough week for markets.
- Tesla cuts prices for many of its models worldwide, slashes cost of full self-driving in US.
- Tesla’s stock sixth straight slide as Cybertruck recall is announced.
- Tesla’s stock keeps getting cheaper – and Cathie Wood’s ETFs keep buying it.
yahoo! finance:
- AI winners lead tech selloff.
- Nike to lay off 740 employees at Oregon headquarters.
- House advances Ukraine aid, Tik Tok ban with Democrats’ help.
Do we have an insider information leak ahead of results for ‘Mag Seven’? We will know soon as tech earnings are reported this week with fresh inflation data.
Global Indexes
S&P 500
The AI selloff continued as the S&P 500 continued its downward descend. We adjusted our negative trend line to coincide with its EMA8 line.
DAX
The DAX is desperately trying to stay above its 50 DMA. This negative trend line is also adjusted to coincide with its EMA8 line.
HANG SENG
The HANG SENG made a hammer candle (turning candle) on Friday that was confirmed today with a gap. It is even currently trading above its 50 DMA and EMA8 lines in positive territory. Tencent is currently trading +4.4%.
NYSE & NASDAQ Stocks
NVIDIA Corporation
NVIDIA led the selloff with a 10% loss. This is ahead of earnings report?
Bank of America Corp
Banks were the winners and Bank of America broke its short-term negative trend line.
JSE Stocks
JSE All Shares
The JSE All Shares remains uncertain with a long-legged hammer candle.
Barloworld Ltd
We showed Barloworld a few times last week and it still was the second-best gainer on Friday. Notice the steep trend line.
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.
