TAGS: South African markets today
Bloomberg:
- Adobe’s bargain share price isn’t enough for the bulls
MarketWatch:
- China’s economy activity shows signs of improvement in August
- GameStop: Cash burn and lack of profitability loom large over meme stock darling
- Dow finishes nearly 200 points lower as Treasury yields rise
Analysts are speculating that market selloff could get ugly if S&P 500 falls below 3900. It is barely holding at 3901 with no sign of a turn.
Global Indexes
S&P 500
The S&P 500 closed on 3901 with no sign that this support level will hold.
DAX
The DAX is also in all negative territory below all resistances.
HANG SENG
Similar for the HANG SENG.
NYSE & NASDAQ Stocks
Adobe Systems Inc
I am aware of a fund that invested heavily in Adobe Systems. This share has dropped 31.5% for the past month.
Amazon.com Inc
Amazon.com is building a platform on a support level that was created by a previous gap. With all the negative sentiment we will have to see if this level is going to hold.
JSE Stocks
JSE All Share
The JSE All Share followed global markets lower. Notice how the MACD started to turn down again to remain negative.
Satrix FINI Portfolio
The Satrix FINI Portfolio remains in a long- and short-term negative trend. Notice that the MACD is still red.
Algomodel Startegies, 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.
