TAGS: Tools to analyze stocks
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News in Brief
Bloomberg:
- Fed’s decision will weigh on Asia stocks and help bond rally, strategist say.
- Short seller Hindenburg research says another report coming soon.
MarketWatch:
- Dow ends 530 points lower after Fed delivers quarter-point rate hike despite banking system stress.
- Powell says no rate cut in 2023, but the bond market doesn’t agree.
yahoo! finance:
- Powell calls Silicon Valley Bank an ‘outlier,’ says SCB management ‘failed badly’.
- ARK Invest sells $13.5m Coinbase shares after steady buying streak.
- Cathie Wood Watch, Blast from the past: Ark buys Microsoft.
Fed’s Powell signaled one more rate hike in 2023 and the market reacted negatively on this decision.
Global Indexes
S&P 500
The negative trend line and 50-day moving average acted as resistance together with the Fed’s decision for the S&P 500. It corrected back to its 200-day moving average.
DAX
The DAX also met resistance at its 50-day moving average.
HANG SENG
The HANG SENG is not reacting negative as the news suggested, but instead it is making an attempt to break its 200-day moving average to the positive side.
NYSE & NASDAQ Stocks
Microsoft Corporation
Microsoft is having volatile sessions at current levels with a hammer and inverted hammer next to each other. Notice the long leg of the inverted hammer as the price reversed after the Fed’s decision. Hopefully today’s move will show direction.
Advanced Micro Devices Inc
Advance Micro Devices was one of a handful of shares that closed positive after the Fed’s decision.
JSE Stocks
JSE All Shares
The JSE All Shares continued its positive rally after the public holiday. Even Frontrunner is busy breaking its negative trend line.
Sasol Ltd
Sasol had 4 volatile sessions at current levels. It made a breakaway gap after the 3 small body candles with Frontrunner also breaking its negative trend.
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.
