TAGS: Technical analysis
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News in Brief
Bloomberg:
- Canada stocks erase 2023 gain, fall further behind US peers.
- Bond yields climb as traders look to Powell.
- London on cusp of becoming biggest stock market in Europe, again.
MarketWatch:
- Utility stocks suffer worst day since 2020 as Treasury yields resume climb.
- ‘Eventually something will break’: JPMorgan strategist warns rising bond yields could unleash a ‘financial accident’.
- Tesla misses lowered sales expectations, but Wall Street sees ‘better days ahead’.
yahoo! finance:
- Nasdaq jumps, Dow falls in seesaw start to Q4.
- Asia stocks set to fall after slide in Treasuries.
- Fed’s Powell gets an earful about inflation, interest rates.
Markets are moving mostly negative, except for the Nasdaq.
Global Indexes
S&P 500
The S&P 500 was unchanged with a small body candle in negative territory.
DAX
The DAX closed the open window (gap) of the previous day to remain in all negative territory.
HANG SENG
The HANG SENG could not break its negative trend line in play and reversed back into all negative territory.
NYSE & NASDAQ Stocks
NVIDIA Corporation
NVIDIA led the tech shares higher on the NASDAQ to close just below its 50 DMA. We will have to see if the average is going to act as resistance today, or whether it gets broken? Notice that the MACD has not turned green yet.
Kellogg Company
Kellogg is taking a beating of note. 11.8% drop for the day and a 31.9% drop since its high of $77. Notice that Frontrunner is predicting further lows.
JSE Stocks
JSE All Shares
The JSE All Shares is following global markets lower, and its leg 5 correction is not complete.
Pick n Pay Stores Ltd
Pick n Pay took the honors with its 14.9% breakaway gap downwards after its CEO resigned (some reports say booted?).
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.
