TAGS: Stock market analysis made easy.
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News in Brief
Bloomberg:
- Asian stocks snap gains as commodities rise.
- One of the last Big Bears on Wall Street turns bullish on US stocks.
MarketWatch:
- Wall Street strategists rush to revise S&P 500 targets as stocks hit fresh records.
- Global stocks hit record as more countries join in the rally.
- The heaviest hitter of this earnings season reports this week (Nvidia) – as do Target and rival retailers.
- Earnings could lift the Dow to 60,000 and the S&P to 8,000, says strategist.
yahoo! finance:
- Nvidia CEO says Dell partnership is key in its push to extend AI.
- Can Nvidia live up to the hype again?
- Zoom lifts annual forecasts on robust demand amid AI push.
- Wall Street’s biggest bear flips, hikes S&P 500 target by 20%.
- Apple slashes iPhone prices in China.
All eyes will be on Nvidia’s earnings this week.
If you notice text on the charts as this example: PT 200-250-300. It indicates price targets for 2024 of analysts showing a low, average and highest price target as calculated by about 37 analysts.
Global Indexes
S&P 500
The S&P 500 extended its positive trend after the doji candle.
DAX
Similar for the DAX.
HANG SENG
The HANG SENG snapped its positive trend with a downwards breakaway gap. It is however still trading above its EMA8 line.
NYSE & NASDAQ Stocks
JPMorgan Chase Co
It was the drop of JPMorgan Chase that caused the Dow to close lower. This happened after Dimon gave a negative response to a question at the bank’s investor day. Notice the analysts price targets: Low 175, Average 211 & High 231.
Caterpillar Inc
Caterpillar bounced on its 50 DMA. Its price of $362 is more than the average estimate of $345.
JSE Stocks
JSE All Shares
The JSE All Shares extended its positive trend after the long-legged doji. It is important not to react to a doji, but rather wait for confirmation the next day.
Kumba Iron Ore Ltd
Kumba Iron Ore is forming a flag against R540 resistance and closed with an uncertain high wave candle. A break of the flag will give new direction.
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.
