TAGS: Technical analysis
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News in Brief
Bloomberg:
- Wall Street fear gauge ratches up after jobs data.
- Stock, bond drop deepens after jobs data surprise.
- China stocks in Hong Kong drop most since July as market reopens.
MarketWatch:
- Banks are bracing for a recession as Treasury yields surge.
- Gold appears headed for a ‘death cross’ just 5 months after teasing record highs.
yahoo! finance:
- House votes to oust McCarthy as speaker in historic vote.
- Job openings unexpectedly increase in August.
- Dow sinks over 280 points as bond yields surge.
Only red to be seen on all Global Markets as negative trends are still in play.
Global Indexes
S&P 500
The S&P 500 is now close to its last support, its 200 DMA, before it will enter all negative territory.
DAX
The DAX is already below its 200 DMA and has now broken a strong support.
HANG SENG
The HANG SENG has been in negative territory for a long time and is now nearing the bottom support of a long-term wedge it is forming.
NYSE & NASDAQ Stocks
Goldman Sachs Group Inc
Goldman Sachs closed on its long-term wedge support in all negative territory. This is also a critical support for further downside.
The Coca-Cola Co
Although one of the institutions is recommending Coca-Cola as a buy, it is still falling and close to its long-term support of $54. Keep an eye on this support level.
JSE Stocks
JSE All Shares
The JSE All Shares is following global markets lower in all negative territory.
Impala Platinum Holdings Ltd
Impala Platinum did not even touch its 50 DMA before continuing 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.
