TAGS: Tools to analyse stocks
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News in Brief
Bloomberg:
- Asia stocks fall after Fed minutes, led by China.
- Tech stocks log four-day losing streak, bonds rise.
- US Bonds, Stocks plunge extends ahead of data.
MarketWatch:
- Dow ends down by 285 points, S&P 500 suffers third straight loss after Fed releases December minutes.
- Top Wall Street bull warns of a pause in stock rally but sees S&P 500 grinding higher in 2024.
yahoo! finance:
- Fed minutes signal hikes are over, but rate-cut timing uncertain.
- ‘Magnificent 7’ stocks start 2024 with losing streak.
- Stocks sink, bond yields rise as rate-cut bets cool.
- Intel to spin out AI firm with outside backing.
We must not forget that 2023 left the markets in overbought territory, so corrections were to be expected.
Global Indexes
S&P 500
The doji was confirmed with a downward movement for the S&P 500. Notice where the P2 Power Signal gave a warning.
DAX
Similar for the DAX with all indexes below their EMA8 lines.
HANG SENG
Although negative, the HANG SENG is still managing to stay above the new positive trend line that we drew. We will have to see if it holds.
NYSE & NASDAQ Stocks
Boeing Co
After a very long positive trend Boeing started to form a flag against its $266 resistance. A breakaway gap downwards broke the flag and started the downward trend.
Eli Lilly and Co
Not all shares are correcting. Eli Lilly made a breakaway gap 10 days earlier to warn something is coming (insider trading). It broke its negative trend line and followed up with another continuation gap. It will now test top resistance. Its MACD is also positive.
JSE Stocks
JSE All Shares
The JSE All Shares had no other choice than following global markets lower.
Quilter Plc
Similar to Boeing Quilter had a nice positive trend the past 7 weeks. It now broke the positive trend line with a P2 Power Signal warning. Notice that the MACD turned red more than a week earlier.
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.
