TAGS: Technical Analysis Software
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News in Brief
Bloomberg:
- China’s economy slows sharply as investment resumes declines.
- Keir Starmer imploded and plunged Britain into more chaos.
- China steps up criticism of EU with second ministry rebuke.
MarketWatch:
- Dow futures drop, oil prices push higher as Iran war remains stuck in stalemate.
- US stocks fall in tech-led selloff as rising Treasury yields and inflation jitters rattle investors.
- Trump’s big trip was supposed to sell 500 Boeing planes. China is only buying 200 of them.
yahoo! finance:
- US stock futures dip from records with Nvidia , retail earnings on deck.
- The 30-year Treusury yield broke to its highest level in almost 20 years.
- Warren Buffett is clearly missed by team Berkshire Hathaway.
- Starbucks says it’s laying off 300 US employees, hints at more job cuts.
- Bill Ackman is suddenly bullish on OpenAI partner Microsoft.
Underwhelming summit outcome in China brings Trump back to reality. In the run-up to the summit, Trump gave the impression that, with his large entourage of top American CEOs, he would bring home major contracts for the American economy. But that wasn’t the case.
Global Indexes
S&P 500
The S&P 500 selloff closed just above its EMA8 line after a failed summit which Trump calls a great success. We will have to see if that gets broken today.
DAX
The DAX correction broke two supports – its EMA8 & 200 DMA supports.
HANG SENG
Similar for the HANG SENG. Summit did not help this index either.
NYSE & NASDAQ Stocks
Microsoft Corporation
The OpenAI partnership of MSFT helped it to break a long-term negative trend line with a gap. Notice how far the share price dipped below its 200 DMA (orange line). It has a 40% potential to analysts’ average price prediction.
NVIDIA Corporation
Selloff at NVDA closed the open window (exhaustion gap) at the top. Nvidia is scheduled to report earnings results on Wednesday, 20 May.
JSE Stocks
JSE All Shares
The JSE All Shares followed global market lower.
Reunert Ltd
RLO had the strongest selloff with its breakaway gap.
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.
