TAGS: Technical analysis software
Free Subscription: Subscription is necessary to receive an email when market reviews are posted.
News in Brief
Bloomberg:
- Stocks tumble most since August rout, oil slips.
- Stocks hit by biggest selloff since August crash.
- Hello Kitty stock soars 93% as Tokyo heat sends tourists indoors.
- Morgan Stanley’s Wilson says equity laggards due to catch up.
MarketWatch:
- Nvidia bleeds $279 billion of market cap, but its stock has plenty of defenders.
- Why is the stock market down? Factory data reminded investors that bad news is bad news.
- US manufacturers remain mired in a slump, ISM shows. But Fed rate cuts can offer an adrenaline jolt.
- Contruction spending posts bigger-than-expected drop in July.
yahoo! finance:
- Nvidia leads Nasdaq selloff in brutal start to September.
- Stormy September lies in wait for markets everywhere.
- US manufacturing activity contracts for a fifth straight month.
- America’s massive hotel strike just got bigger.
Global markets are retreating from top resistances in overbought territory with a major selloff.
Global Indexes
S&P 500
Although we have a forecast of 6,200 before the end of the year, currently we have a major selloff. The S&P 500 touched its 50 DMA with its EMA8 line broken downwards.
DAX
After the hammer candle and P2 Power signal the DAX made a large engulfing bear candle.
HANG SENG
The HANG SENG opened with a downward breakaway gap today and is currently trading on its 50 DMA.
NYSE & NASDAQ Stocks
NVIDIA Corporation
Although 43 analysts give an average of $151 target for NVIDIA, it was this share that led the selloff. It is already in semi oversold territory and close to the lowest target of $90.
Microsoft Corporation
MSFT made an engulfing bear candle to close just below its 200 DMA. It is already way below all analysts estimates.
JSE Stocks
JSE All Shares
The JSE All Shares followed the selloff of global markets. Notice where Frontrunner broke down.
Aspen Pharmacare Holdings Ltd
APN price got slaughtered after a British newspaper report accusing the African company of withholding drugs to try to drive up prices in European markets.
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.
