TAGS: Technical analysis
Bloomberg:
- Amazon selloff sets up retreat below $1 trillion market value
- China stocks in worst ever post-congress rout as gloom persists
MarketWatch:
- Dow surges more than 800 points to score longest weekly win streak since November 2021
- Dow is having a killer month as it heads for best October ever
- ‘Shock and awe’ rockets Intel stock up 10% to best day since March 2020
- A $3 trillion loss: Big Tech’s horrible year is getting worse
- Another Fed jumbo hike is expected next week and then life gets difficult for Powell
yahoo! finance:
- Stocks surge as Apple boom outweighs Amazon miss
- Stocks moving in after hours: Meta, Google, Twitter & Caterpillar
- ‘Go Elon’: Trump allies have high hopes for Twitter
Google Finance:
- Say goodbye to the popular Google Duo blue icon on Android
- Government may find other ways of charging you for e-tolls – Road Freight Association
- Amazon stock plummets 14%, on course to lose trillion-dollar market cap after warning about holiday sales
More:
- EOH on the verge of technical insolvency (They were part of State Capture deals)
This was the best October ever on the US markets, if you were not overweight in Big Tech. We were asked how to compare a share with an index. This is easily done in Algomodel Pro with the Trend Factor. Each share or index has a Trend Factor as calculated by the program which is an accurate indicator for comparing performances. This factor is shown on all the graphs in these posts.
Global Indexes
S&P 500
The S&P 500 broke its 50-day moving average (dark blue) and therefore we must assume that the positive trend is continuing. Notice that the Trend Factor is still negative (-1.9).
NASDAQ
The NASDAQ took the biggest hiding and thus its Trend Factor is -9.2. It is still below its 50-day moving average.
DAX
The DAX is above its 50-day moving average busy breaking a long term negative trend line.
HANG SENG
Even the HANG SENG is trying to move positively today, but with their conservative policy the HANG SENG is the worst global performer with a Trend Factor of -36.7.
NYSE & NASDAQ Stocks
Amazon.com Inc
Let’s first get the bad news out of the way. Amazon.com has a dark red Trend Factor of -19.6 and you should not invest in shares with negative trend factors. The latest drop started with a long-legged doji, then a breakaway gap downwards followed by another gap (continuation?). You can get the explanation of these indicators in the educational section. It is also dropping below low support.
Enphase Energy Inc
The share with the best Trend Factor listed on the S&P 500 is Enphase Energy with a dark green factor of 273.7. This share was also the 3rd best performer of the week. Many investors make the mistake to invest in shares that has a poor Trend Factor because it has fallen so much. IT CAN FALL FURTHER!
JSE Stocks
JSE All Shares
Although the JSE All Shares corrected on Friday, it remains in a positive trend and a MACD with green bars. The index was mostly influenced by Naspers and Prosus that were following Tencent lower.
Barloworld Ltd
Barloworld is attempting to break its sideways bands it was trading in the past 16 weeks. Notice that the Trend Factor, although still negative, has changed color to light red.
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.
