TAGS: Stock market analysis made easy.
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News in Brief
Bloomberg:
- Global investors turn cautious on once favorite Japanese stocks.
- China earnings pain erodes optimism over stock market rebound.
- S&P 500 trading volume spikes at Wall Street close.
- Moutai set to lose crown as China’s biggest stock to ICBC.
MarketWatch:
- S&P 500 logs weekly gain despite slipping Friday.
- Biden White House applauds Walmart, Amazon for grocery discounts amid inflation fight.
- Eli Lilly seeks FDA’s OK to expand Zepbound’s uses to include sleep apnea.
- Investors poured a record amount of money into technology funds last week.
yahoo! finance:
- S&P 500, Nasdaq fall as Nividia slides for 2nd straight day.
- US jet fuel output rises to pre-COVID levels as demand soars.
- Xi, Putin score wins as more Asia leaders aim to join BRICS.
- Nasa delays return of Boeing Starliner for more technical checks.
After the strong rally profit taking was unavoidable while the market is waiting for new direction.
Global Indexes
S&P 500
The S&P 500 poised with an indecision doji, still above its EMA8 line.
DAX
The DAX is also undecided about direction and gave up 50% of its bounce of the previous day.
HANG SENG
Poor earnings are sending the HANG SENG lower. It broke its 50 DMA downwards to extend its negative trend line.
NYSE & NASDAQ Stocks
NVIDIA Corporation
Nvidia is also uncertain after its strong rally. It closed with a long-legged indecision high wave pattern. This is where bears and bulls battle each other in the effort of trying to push the price in a given direction.
McDonalds Corporation
MCD bounced off a potential W formation with divergence in place. BUT do notice the long-legged indecision high wave pattern.
JSE Stocks
JSE All Shares
The JSE All Shares is also uncertain about what happens next with its large upper shadow candle.
Platinum
We want to show the Platinum that is busy climbing. Notice the accurate P1 Power Signals together with a negative trend and 50 DMA lines that are broken.
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.
