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News in Brief
Bloomberg:
- QQQ up in late hours on Nvidia’s bullish forecast.
- Global funds abandon China Blue Chips in $11 billion selloff.
MarketWatch:
- Opinion: Nvidia’s jaw-dropping revenue forecast might not even be its peak.
- Opinion: Nvidia is seeing a generative-AI boom, but don’t bet on it spreading to the rest of tech.
- On eve of Nvidia results, Cathie wood sells more shares in the chip manufacturer.
yahoo! finance:
- Nvidia soars to record after earnings, forecast crush.
- Nvidia earnings: Company is ‘defying all odds’: Analyst.
Nvidia did not disappoint the market and all global markets are bullish, even the Hang Seng.
Global Indexes
S&P 500
Its EMA8 line is still acting as resistance for the S&P 500.
DAX
The DAX made another inverted hammer candle that closed just below its EMA8 line. We now have 3 hammer candles (turning candles) next to each other with its EMA8 line still acting as resistance.
HANG SENG
The HANG SENG lifted its head slightly, also below its EMA8 line.
NYSE & NASDAQ Stocks
Texas Instruments Inc
Texas Instruments made a turn with divergence and is now also hesitating with the rest of the market.
NVIDIA Corporation
All eyes on NVIDIA‘s results. Top resistance acted as profit taking for those that do not want to take any risk on the outcome of its results. The results can give new market direction for AI stocks.
JSE Stocks
JSE All Shares
A very tight trend line is acting as resistance for the JSE All Shares. This index will most probably also follow global markets today.
Thungela Resources Ltd
Thungela Resources broke its 50-day moving average to be in positive territory. Notice that the MACD turned green 8 days previously with a breakaway gap.
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.
