TAGS: Stock market analysis made easy.
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News in Brief
Bloomberg:
- Stocks show signs of buyer exhaustion after rally.
- ‘Mania’ could drive S&P to 6000 before plunge, Stifel says.
- S&P 500 rally stalls near 5500 as US yields rise.
MarketWatch:
- Bearish Nvidia option bets spike as stock sees record-breaking reversal.
- Trump social-media stock ‘DJT’ has slid more than 30% over the past 5 days.
- Blue-chip stocks slipping after Thursday batch of economic data.
yahoo! finance:
- American Airlines’ flight attendants prepare to strike.
- McDonald’s $5 value meal intensifies fast food price war.
- Asian shares end the week with a whimper, yen struggles.
- The Fed might need to ‘get on with it’ and cut rates.
- S&P 500, Nasdaq rise as Nvidia’s roll continues.
There are signs of buyer’s exhaustion with some option contracts closing today.
Global Indexes
S&P 500
After touching its 5500 level in overbought territory the S&P 500 reversed with an engulfing bear candle. It is still above its EMA8 line which is first support.
DAX
The DAX lifted its head to close just above its EMA8 line, but below its 50 DMA resistance.
HANG SENG
The HANG SENG break was short lived as it corrected back to its 50 DMA support. If it breaks below its 50 DMA, we will adjust our negative trend line to include the turn.
NYSE & NASDAQ Stocks
NVIDIA Corporation
After touching its $140 level Nvidia reversed with an engulfing bear candle. We also have divergence in place with a P2 Power Signal. Notice that the average price target is $125.
Advance Micro Devices
AMD is attacking the flag that formed after JPM downgraded the share. The average price target by all analysts still remains $191.
JSE Stocks
JSE All Shares
The JSE All Shares also stalled at top resistance with a piercing candle. All candle explanations are in lesson 9 under the education section.
Northam Platinum Holdings Ltd
NPH closed on its 200 DMA resistance. It has a target price of R157. Notice where Frontrunner broke up and the MACD changed colour in oversold territory.
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.
