TAGS: Stock market analysis made easy.
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News in Brief
Bloomberg:
- Asian stocks rise on profit optimism into earnings.
- Stocks rise as US earnings kick into high gear.
- Strategist split on US profit outlook as stocks pull back.
- Tencent shares climb most in months as blockbuster debuts early.
MarketWatch:
- History says stock-market dips caused by geopolitical turmoil ‘should be bought, not sold’: BofA strategist.
- Gold posts biggest one-day drop in over a year as geopolitical concerns ease.
- Tech stocks show signs of ‘breaking down’ ahead of Big Tech earnings.
- China’s economy is finally showing bright spots. Worrying signs remain.
- S&P 500 aims to snap a rare 6-session drop.
- Fed’s hurdle to reverse course and sound dovish again is high, according to Macquarie.
- Chipotle opens kicks off Middle East expansion with first Kuwait restaurant.
yahoo! finance:
- Tesla is set to report earnings on the heels of a stock wipeout.
- Musk’s robotaxi dreams plunged Tesla into chaos.
- Apple named a top 2024 pick at BofA ahead of key earnings.
- Tensions between Beijing and Washington are the biggest worry for US companies in China.
- Alphabet has so much cash it could start paying a dividend.
- Short sellers pocket record weekly profit from Big Tech selloff.
Big Tech earnings, PCE inflation is going to be the key for markets this week.
Global Indexes
S&P 500
The S&P 500 lifted its head with a Frontrunner breaking up and a MACD changing color, but our negative trend line is still in play.
DAX
The DAX made an engulfing bull candle touching its EMA8 line. All this is happening in oversold territory.
HANG SENG
The HANG SENG broke its EMA8 and 50 DMA lines this morning, heading towards its long-term resistances.
NYSE & NASDAQ Stocks
Goldman Sachs Group Inc
After retreating from top resistance Goldman Sachs is attacking it again and closed on it.
Microsoft Corp
The descend of Microsoft stalled with a small body candle and a P1 Power Signal in oversold territory ahead of earnings report.
JSE Stocks
JSE All Shares
The JSE All Shares is still hesitant about its turn and closed below its 50 DMA resistance. We do have a Frontrunner breaking up (P1 Power Signal) and a MACD changing color in oversold territory.
Naspers Ltd
The positive move of Tencent helped Naspers to break its negative trend line with a gap. Tencent is still strong this morning with another 2.7% gain.
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.
