TAGS: Technical Analysis Software
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News in Brief
Bloomberg:
- Japan stocks slump after US data spark growth worries.
- Novo Nordisk shares post worst ever week as optimism wanes.
- Stocks sink as bonds jump on deepening jobs cracks.
MarketWatch:
- US stock futures gain after Friday’s Wall Street selloff; oil falls as OPEC+ extends output boost.
- Trump’s firing of BLS commissioner decried as ‘groundless’ and ‘giving way to authoritarianism’.
- Bonds and the dollar are flashing a warning about the US economy.
- Stocks end sharply lower, booking weekly losses after latest jobs report, tariffs.
yahoo! finance:
- Job market worries take center stage this week as earnings season rolls on.
- Trump fires BLS commissioner after July jobs report disappoints.
- Fed in a ‘horrible situation’ with dual mandate ‘at a crossroads’.
- Bessent says US has ‘makings of a deal’ with China.
The latest jobs report showed clear signs of fragility. Firing the commissioner cannot change the facts. Together with Trump’s tariffs made all the indexes break down.
Global Indexes
S&P 500
The S&P 500 made a breakaway gap downwards, breaking support.
DAX
Similar for the DAX that also broke its 50 DMA support.
HANG SENG
The HANG SENG is nearing its 50 DMA support with its correction. No tariff deal has been concluded.
NYSE & NASDAQ Stocks
Novo Nordisk AS
NVO corrected 32% for the week and 63% for the year so far. Frontrunner predicts that the pain is not over.
Amazon.com Inc
AMZN made a breakaway gap downwards, like most shares, to close below its 50DMA support with a 8.3% drop.
JSE Stocks
JSE All Shares
The JSE All Shares did not escape the global correction and managed to close above its 50 DMA.
Anheuser-Busch
ANH made the largest correction on the JSE this week closing below all support. Notice that Frontrunner predicts further lows. We had two P2 Power Signals at R1280.
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.
