TAGS: Share value analysis
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News in Brief
Bloomberg:
- Stocks snap back with nerves frayed ahead of PCE.
MarketWatch:
- Opinion: The stock market’s rally was a head fake, and the smart money is with the bears.
- Opinion: Timing the market is a loser’s game. Just keep it simple and own stocks – no matter what.
- S&P 500 snaps 4-day losing streak as stocks end choppy session higher.
- China calls for cease-fire between Russia and Ukraine, peace talks.
- Nvidia’s stock-market hot streak is far from over, according to Wall Street analysts.
MarketWatch is full of opinions, but we prefer to stay with a trend.
Global Indexes
S&P 500
Its 50-day moving average acted as support for the S&P 500. The bounce did not break the negative trend that is still in place. We will have to wait to see if the hammer turning candle is confirmed today.
DAX
The DAX made a similar bounce on its horizontal support at 15300 points. The trend remains sideways.
HANG SENG
The negative trend for the HANG SENG is still in play with another downwards gap today. Exhaustion or continuation gap?
NYSE & NASDAQ Stocks
NVIDIA Corporation
NVIDIA stole the limelight with its 14% breakaway gap.
Apple Inc
Apple has now made a doji and a hammer candle touching its 200-day moving average. Both these candles are turning candles, but a drop below its 200-day moving average will be very negative for this share and will extend the current negative trend.
JSE Stocks
JSE All Shares
Its 50-day moving average is acting as support for the JSE All Shares. Depending on what happens in the US will influence what happens here.
Truworths International Ltd
Truworths had divergence in place at its attempt to break top resistance. After failing it made 5.5% drop. Notice where the MACD turned 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.
