TAGS: Tools to analyse stocks
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News in Brief
Bloomberg:
- Stocks bounce thanks to tech rally, Fed comments
- Goldman, BofA say European stocks rally in 2023 is mostly done
MarketWatch:
- Big Tech layoffs are not as big as they appear at first glance
- More than 55,000 global tech workers laid off in the first weeks of 2023, says layoff tracking site
- Google joins Intel, Microsoft, Amazon, Salesforce and other major companies laying off thousands of people
- S&P 500, Dow score best day in 2 weeks, Nasdaq erases weekly loss as Netflix, Alphabet jump
- Earnings Watch: Microsoft, Tesla and Intel are about to face the doubters
yahoo! finance:
- Cathy Wood sees Fed pivot boosting growth stocks this year
- The US government just hit its $31.4 trillion debt ceiling
The tech bounce lifted all the indexes in the US. Earning season is not over and we will have to see if the net result can break the negative trend lines?
Global Indexes
S&P 500
The bounce made the S&P 500 close on its 200-day moving average with its long-term negative trend line ahead. Earnings season has already caused a lot of volatility … and it is not over yet!
DAX
The DAX also made a bounce to close on its EMA8 line. Nothing else is confirming that the negative is over.
HANG SENG
The HANG SENG bounced on its EMA8 line and Frontrunner broke up giving more assurance than the other indexes.
NYSE & NASDAQ Stocks
Alphabet Inc
Alphabet made a breakaway gap to break its 50-day moving average. Its long-term negative trend line and 200-day moving average are still ahead as resistance.
Goldman Sachs Group Inc
On the other side of the coin Goldman Sachs Group is still leading the stocks that did not meet their targets downwards. Notice that its MACD turned red.
JSE Stocks
JSE All Shares
The JSE All Shares remains unsure and made a spinning top candle to confirm the uncertainty. While moving sideways we are not in an extreme overbought situation anymore.
Woolworths Holdings Ltd
After breaking top resistance with a breakaway gap, Woolworths is heading into blue sky without any ugly resistances.
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.
