TAGS: South African market today
Bloomberg:
- China stock rout pauses as investors assess Xi’s policy outlook
- Tech’s big day tarnished as Microsoft, google TI disappoint
MarketWatch:
- US stock rally set to stall after Microsoft and Alphabet earnings disappoints
- Opinion: Facebook and Google grew into tech titans by ignoring Wall Street. Now it could lead to their downfall
- Facebook earnings cut in half, Meta stock sinks towards lowest prices in more than 6 years
- Meta fined $24.7 million for campaign finance disclosure violations
- Elon Musk reportedly tells Twitter staff he won’t cut 75% of workforce
It was the day of BIG Tech that disappointed in the US while Eastern Markets made a wedge turn.
Global Indexes
S&P 500
Big Tech prevented the S&P 500 to break its 50-day moving average resistance. Instead, we had an inverted hammer candle against resistance. We will have to wait to see if a turn is confirmed today. The futures are positive though.
DAX
The DAX continued its rally and closed just above a very long-term negative trend line.
HANG SENG
Although the HANG SENG made a breakaway gap this morning, it is currently trading with a doji against its EMA8 line. We will also have to wait and see if this index can break its first resistance. In the meantime, we remain in all negative territory.
NYSE & NASDAQ Stocks
Enphase Energy Inc
It is not all bad news on the S&P 500. The share with the best Trend Factor, Enphase Energy first gave a warning with a breakaway gap and the followed it up with another 9.9% gain gap. Stay with shares that has strong Trend Factors!
Alphabet Inc
Alphabet started to trade positively ahead of earnings, but then made a breakaway gap downwards with disappointing earnings results. Notice the negative Trend Factor and yearly performance. We sort all shares according to its Trend Factor in scan lists. Use it to your advantage.
JSE Stocks
JSE All Shares
The JSE All Shares had a positive day with Resources driving the index higher. The Trend Factor is on the verse of turning positive.
Impala Platinum Holdings Limited
Impala Platinum broke the flag it was forming to the positive side with a 6.7% gain.
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.
