TAGS: How to analyze shares and stocks
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News in Brief
Bloomberg:
- Nvidia’s red-hot 2024 start a bright spot as S&P 500 eyes record.
- Bond traders reload Fed-cut wagers after PPI data.
- $3 Billion top Asia fund bets on Tencent again despite China gaming rules.
MarketWatch:
- US stocks closed mostly higher, book weekly gains ahead of MLK holiday.
- Citigroup to cut 20,000 jobs after ‘very disappointing’ quarter.
- JPMorgan Chase posts record-breaking yearly profit, as fourth-quarter earnings beat analyst estimates.
- Bank of America’s stock slides 2% as earnings almost halve from a year ago.
- Morgan Stanley hit with $249 million fine for block-trading fraud.
yahoo! finance:
- China’s military, government acquire Nvidia chips despite ….
- Fed is ‘not completely don’ fighting inflation: Gary Cohn.
- Microsoft tops Apple in market value at Friday’s close.
- S&P 500 nears record as stocks close winning week.
- Red Sea tensions put focus on struggling US energy stocks.
Markets were mostly unchanged ahead of the weekend with mixed results from banking shares.
Global Indexes
S&P 500
The S&P 500 is touching top resistance again with an uncertain small body candle. Are there enough steam left to push through the resistance or is this the makings of a perfect double top. We can only wait and see!
DAX
We have a harami pattern for the DAX. In Western terms it is an inside day. The market is very uncertain about direction.
HANG SENG
Uncertainty too for the HANG SENG with a high wave candle Friday and a long-legged doji today, still below its EMA8 line.
NYSE & NASDAQ Stocks
JPMorgan Chase Co
Although JPMorgan Chase recorded a record profit, it closed below its EMA8 line. Maybe investors expected more and took profit after the 26.6% trend. Notice that the rally started with an inside day candle pattern (harami pattern) and lasted 7 weeks.
Halliburton Company
Energy shares are lifting their heads with the Res Seas tensions. Halliburton has the makings of a perfect double bottom. It made a P1 Power Signal in oversold territory with a MACD that changed color. There is also a level 2 divergence in place.
JSE Stocks
JSE All Shares
The JSE All Shares lifted its head in oversold territory with a P1 Power Signal to close above its 50 DMA.
Sasol Ltd
Sasol is also benefitting from the Red Sea tensions and made a P2 Power signal in oversold territory. it closed on its negative trend line, and we might see a break of this line for the first time in 9 weeks. Notice where the P2 Power Sell Signal was given during October last year. It was then confirmed with an engulfing bear candle followed by a breakaway gap. All powerful signals.
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.
