Worst Week since March 2023

TAGS: Technical analysis software

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News in Brief

Bloomberg:

  • Palantir, Dell among new S&P 500 members as Index rebalances.
  • Stocks hit by jobs in worst week since March 2023.
  • US yields sink as jobs put jumbo Fed cut in play.

MarketWatch:

  • The stock market is stumbling on nagging fears the Fed may have made a mistake.
  • Dow logs worst week since 2023 after softer-than expected US job jobs report.
  • Fed’s Waller backs starting ‘careful’ rate cuts in September.
  • The US economy generated 142,000 new jobs last month, unemployment rate drops to 4.2%. That keeps the Fed rate-cut plan on track.
  • Big picture: Fed rate cut guaranteed. Will it keep the economy on course.

yahoo! finance:

  • Nasdaq, S&P 500 see worst week of year.
  • August US payrolls short of expectations, boosts bigger rate cut view.
  • Elon Musk’s China dream stalls as hybrids past Tesla.
  • Broadcom slides as earnings fail to signal big AI boost.
  • Buffett’s Berkshire offloads BofA shares again.

Volatile September started with the worst week of the year.

Global Indexes

S&P 500

The S&P 500 broke its 50 DMA support with a large negative candle.

DAX

Similar for the DAX.

HANG SENG

The HANG SENG was closed on Friday and opened with a gap today to trade on its 200 DMA. This is the last important support before it is back in all negative territory again.

NYSE & NASDAQ Stocks

Tesla Inc

Tesla reversed its positive trend that started with an engulfing bear candle that enclosed two positive days.

JPMorgan Chase Co

JPM started reversing from its average target price and is already down 5.5% for the week.

JSE Stocks

JSE All Shares

The JSE All Shares did not escape the global correction and followed suit.

Nineteen One Plc

N91 gave a Power signal P1 in the negative band. It also has an engulfing bull candle with a MACD that changed color.

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.

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