TAGS: Software for stock market analysis
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News in Brief
Bloomberg:
- Chinese stocks rebound after terrible month on upbeat data.
- Stocks drop for a second day; Yields stay elevated.
MarketWatch:
- Tesla shares fall 5% as Elon Musk’s ‘Master Plan 3’ is short on details about both cars and finances.
- Wolfspeed stock falls after Tesla suggest next-gen car will cut silicon-carbide use.
- Tivian stock drops to lowest in six weeks on weaker 2023 outlook.
- Chinese economic data point an upbeat picture. U.S. companies operating in China are not buying it.
- Starbucks workers’ dissent expands to office employees, who complain of ‘record-breaking low morale’.
The Bears still have the upper hand as the S&P 500 closed lower, but its 200-day moving average support is not broken.
Global Indexes
S&P 500
The S&P 500 touched its 200-day moving average for the second time in 4 days. This support is still holding for now as Bulls and Bears fight for control at this level.
DAX
The DAX also had a negative day, but still inside its sideways resistances.
HANG SENG
The bounce of the HANG SENG did break its EMA8 line, but not its 50-day moving average (dark blue) above. It is currently trading still above its EMA8 line.
NYSE & NASDAQ Stocks
Caterpillar Inc
Caterpillar broke its short-term negative trend and 50-day moving average lines to start the trend upwards again.
Chevron Corporation
We were asked about Chevron whether it is a buy? It is trading below all resistances with a host of uncertain candles below its $163 level. A green MACD might be the best signal to follow when it happens.
JSE Stocks
JSE All Shares
The JSE All Shares managed to climb above its 50-day moving average again, but the negative trend line of Frontrunner is not broken, nor is the MACD green.
Aspen Pharmacare Holdings Ltd
Aspen stole the limelight on the JSE with its 13.3% gain. It broke all its resistances and flag it was busy forming. Better days ahead for Aspen?
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.
