TAGS: Share value analysis.
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News in Brief
Bloomberg:
- Tesla valuation looks unsustainable to Wall Street analysts.
MarketWatch:
- Powell may have given ‘green light’ for higher bond yields with 10-year near 5%: Fed Watcher.
- Opinion: Sell signs are popping up all over the stock market.
- Dow ends over250 points lower after Powell’s remarks.
yahoo! finance:
- Stocks slide, yields surge amid interest rate worries.
- Asian stocks fall, oil advances on Mideast tension.
- Powell sets table for November pause, warns of more hikes.
- Regional banks still have a profitability problem.
There are just too many uncertainties for Markets to continue positive moves and thus more selloff with all markets in negative territory.
Global Indexes
S&P 500
The S&P 500 closed below its EMA8 line in negative territory, approaching its 200 DMA as last support (4220). The negative trend lines are forming an ellipse right top corner that may play out on its 200 DMA.
DAX
The DAX remains below all support in negative territory.
HANG SENG
Similar for the HANG SENG approaching its 17100 support.
NYSE & NASDAQ Stocks
Tesla Inc
Yesterday we showed that Tesla broke the wedge its was forming, today we show that its positive long-term trend line is broken with a breakaway gap. Frontrunner is warning that more lows are coming.
salesforce.com Inc
salesforce.com is struggling to break its 50 DMA (dark blue) with its short-term positive trend still in play.
JSE Stocks
JSE All Shares
The JSE All Shares is followed global markets lower.
Mondi plc
The biggest drop for the day on the JSE was Mondi with its -6.8% breakaway gap. Notice where Frontrunner broke down with divergence in place and the MACD turned red. Frontrunner is also warning of more lows to come.
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.
