TAGS: Technical analysis software.
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News in Brief
Bloomberg:
- India’s regulator turns up heat on influencers as stocks boom.
- Goldman says souring US growth views may create stocks bargains.
- S&P 500 extends slide from its July peak to 10%.
- Worst October for stocks in five years has investors exiting market.
MarketWatch:
- Oil ticks lower, markets hold steady as Israel launches Gaza ground offensive.
- Fed likely won’t raise rates this week and will hope that they’re done.
- Hedge-fund billionaire and Mets owner says stocks will rebound after ‘fake scare’ recession.
- ‘Magnificent Seven’ stocks have shed more than $1.2 trillion in value since the market’s July peak.
- Dow closes at lowest since March as S&P 500 joins Nasdaq in correction territory.
yahoo! finance:
- Smaller manufacturers feeling impact of UAW strike: NAM CEO
- Ford, GM, and even Tesla are warning about the EV market.
- Dow sheds 350 points, S&P 500 enters correction territory.
- JPMorgan stock slips as Dimon plans first stock sale as boss.
Although we are in negative territory, we are in oversold territory too, with the traditional poor October month near its end.
Global Indexes
S&P 500
The S&P 500 is still heading lower with technical indicators at previous turning levels. We are in oversold territory well below the 200 DMA.
DAX
Similar for the DAX.
HANG SENG
The HANG SENG made a strong bounce on Friday only to trade below its EMA8 line this morning.
NYSE & NASDAQ Stocks
Amazon.com Inc
The results of Amazon.com caused it to make a breakaway gap. It however still closed below its negative trend line.
Berkshire Hathaway B Inc
Similar to the index, Berkshire Hathaway is showing no sign of a turn as it closed on its 200 DMA.
JSE Stocks
JSE All Shares
Similar to global markets the JSE All Shares corrected further in oversold territory. Notice that we do have divergence in place.
Kumba Iron Ore Ltd
Kumba Iron Ore is busy completing its J-curve with its long-term negative trend line close above.
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.
