TAGS: Stock market analysis made easy.
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News in Brief
Bloomberg:
- Asian stocks cautious before key US indicators.
- Stocks eke out gains in Fed run-up as Euro falls.
- Global markets rattled by Europe political jitters.
- French bank stocks lead market drop after Macron calls snap vote.
MarketWatch:
- Apple WWDC keynote sends stock lower despite Apple intelligence preview.
- Elon Musk rails against Apple-OpenAI deal, threatens to ban iPhones from his companies.
- Need to know: Nvidia could become fully 15% of the S&P 500.
- ‘AI bar remains high’ for AMD, says Morgan Stanley as it slashes rating.
- Norway’s oil fund to vote against Musk’s $56 billion Tesla pay award.
yahoo! finance:
- Oil extends biggest gain since February ahead of OPEC report.
- Investors brace for Fed to dial back view on rate cuts.
- Stocks edge lower ahead of huge week on Wall Street.
- French markets slide as nation plunges into political turmoil.
- Nvidia sparks chatter over possible Dow inclusion.
Markets are rattled by Euro political jitters and the uncertainty of a new government for SA is also sending the JSE down. Markets do not like uncertainties!
Global Indexes
S&P 500
The S&P 500 is extending its positive trend after a small correction.
DAX
Political jitters on Euro markets caused the DAX to make a hammer candle on its 50 DMA. Notice that the last two bounces happened on its 50 DMA support (dark blue).
HANG SENG
The HANG SENG is busy with leg c of its abc correction. It opened with a downward gap today after being closed yesterday.
NYSE & NASDAQ Stocks
NVIDIA Corporation
If you want to correct your data for the split of NVIDIA, right click on the share name and choose the option: ‘Reload Data’. There is some indecision after the split and awaiting US data with a high wave candle. The average price target for NVIDIA by analysts is $125 with a high of $150.
Broadcom Ltd
AVGO is attacking its top resistance with a MACD that also turned green. Notice that the average price target of analysts is $1589 with one giving a high of $1850. The uncertainty of analysts is noticeable with a range of $1110 to $1850!
JSE Stocks
JSE All Shares
While we have uncertainty about a new government, the JSE All Shares will reflect it. Frontrunner is still heading down with a red MACD in place. The index is also busy breaking its 50 DMA downwards.
Compagnie Financiere Richemont SA
CFR reached top resistance and started correcting with divergence in place. This is power signal P2 on our system.
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.
