TAGS: Share value analysis.
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News in Brief
Bloomberg:
- Asia stocks fall after wild bond swing, oil gains.
- Wall Street trading rattled by wild treasury moves.
- China’s Nasdaq-style index falls to record low on growth concern.
MarketWatch:
- Equity strategist who called stock rally in first half says S&P 500 won’t resume climb until spring 2024.
- Morgan Stanley’s Wilson: Next rally attempt will fail as investors are punishing earnings reports.
- McDonald’s and Chipotle set to continue dominance amid consumer-spending worries, research shows.
yahoo! finance:
- Strategist: Stocks won’t rally until bond yield hits pre-crisis level.
- Nvidia to make Arm-based PC chips in new challenge to Intel.
Earnings reports will give lots of volatility to markets, but we are seeing the first unconfirmed turning candles appearing on all markets.
Global Indexes
S&P 500
The S&P 500 closed with an indecision pattern, a high wave candle just below its 200 DMA.
DAX
The DAX also made a long-legged hammer turning candle.
HANG SENG
Even the HANG SENG is currently trading with a hammer candle.
NYSE & NASDAQ Stocks
NVIDIA Corporation
NVIDIA made an engulfing bull candle after announcing its new chip after its abc correction. Its MACD also changed color in oversold territory.
Micron Technology Inc
Micron Technology made a high wave candle on its long-term positive trend line. None of these turning candles are confirmed.
JSE Stocks
JSE All Shares
Even the JSE All Shares made an unconfirmed hammer candle on its 700 support.
Spar Group Ltd
Spar retreated from its 200 DMA resistance to make a piercing candle on above its 50 DMA support. This is happening in oversold territory.
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.
