TAGS: How to analyze shares and stocks
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News in Brief
Bloomberg:
- Goldman says S&P 500 earnings forecast could rise further.
- S&P 500 win streak ends on 2024’s ‘Terrible Start’.
- Investors are rushing to cash at record pace in first week, BofA says.
MarketWatch:
- The S&P’s first five trading days may indicate full-year performance. That doesn’t bode well for stocks in 2024.
- AMC’s stock extends losing streak to five days, hits another record-low close.
- JPMorgan, Bank of America leads earnings parade of US largest banks to cap off tough year.
- The S&P 500’s first five trading days may indicate full-year performance. That doesn’t bode well for stocks in 2024.
- An article about Elon Musk’s alleged drug use means more volatility for Tesla’s stock.
yahoo! finance:
- Stocks snap 9-week win streak, longest since 2004.
- Apple’s slump puts most-valuable stock title at risk.
Most of the Global Markets closed below their EMA8 lines in negative territory. They need to break up before we can say markets are positive.
Global Indexes
S&P 500
The S&P 500 is showing signs of uncertainty about current move with 2 inverted hammer candles next to each other.
DAX
Similar to the S&P 500 the DAX is still hanging onto its EMA8 line just above. If it breaks away downwards from its EMA8 line you can expect more corrections.
HANG SENG
After the uncertain high wave candle the HANG SENG is extending its negative trend that started after the factory production miss.
NYSE & NASDAQ Stocks
Apple Inc
Apple is now touching its last important support, its 200 DMA (orange line). Dropping below this will spark more negativity, but we are in extreme oversold territory.
NVIDIA Corporation
After the two uncertain high wave candles NVIDIA took the positive trend. $504 still remains its strong resistance hurdle.
JSE Stocks
JSE All Shares
The JSE All Shares is just as uncertain with a long legged doji and hammer candle next to each other.
Bidvest Group Ltd
Bidvest is still busy with its long-term negative moves but also ended the week uncertain with a high wave candle.
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.
