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News in Brief
Bloomberg:
- Microsoft sinks as downgrade highlights cloud-growth concerns
- Apple’s stock is losing its shine after an ugly month in December
MarketWatch:
- 10-year Treasury yield down for 4th session after Fed reiterates its inflation-fighting resolve
- Amazon confirms more than 18,000 layoffs, far more than originally expected
- Short sellers score $300 billion in 2022; bets against Tesla, Amazon, Meta bring in the most
All world markets are busy with a positive rally, ignoring the negative news.
Global Indexes
S&P 500
The S&P 500 lifted its head slightly to close above its EMA8 line, but still below its 50-day moving average.
DAX
The strong rally of the DAX started with a gap the previous day, and it closed with a shaven head bullish candle yesterday. All signs of a strong rally.
HANG SENG
The HANG SENG is extending its positive rally with another gap today. Its Trend Factor even changed to light red after a very long period of dark red.
NYSE & NASDAQ Stocks
Microsoft Corporation
Microsoft is following the negative movers downwards. Notice the gap and how the 200 and 50-day moving averages acted as resistances. The MACD turned red against its 200-day moving average with a long-legged doji.
Caesars Entertainment Corp
Caesars Entertainment started its rally in oversold territory. Its Trend Factor turned positive. We will have to see what happens at the two resistances ahead. Amongst all the entrainment shares, this was the one recommended by Wall Street.
JSE Stocks
JSE All Shares
The JSE All Shares closed a bit uncertain, but nevertheless still positive.
Spar Group Ltd
Spar broke its negative trend line after bouncing on R113 support. Notice that the turn came with divergence. We only believe in divergence as a true turn.
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.
