TAGS: Technical analysis software
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News in Brief
Bloomberg:
- High-flying chipmakers see worst plunge since 2020.
- Nearish Nvidia option trade nets $6 million in day on share drop.
- Goldman’s Rubner says ‘Not Buying the Dip’ as correction begins.
MarketWatch:
- Dow holds firm while Big Tech pullback sinks S&P 500.
- Tech selloff erases $1.1 trillion of ‘Magnificent Seven’ market cap.
yahoo! finance:
- Tech stocks get smoked as Nasdaq has worst day since 2022.
- Xi to map out vision for China economy as key meeting wraps.
- Asian stocks slide on rising trade tensions, yen climbs.
The Big Tech selloff in taking profit had to come after a very long rally.
Global Indexes
S&P 500
The big tech selloff made the S&P 500 close below 5600 with a downward breakaway gap.
DAX
The DAX continued its correction and closed below its EMA8 and 50 DMA support lines.
HANG SENG
The HANG SENG is still hanging on its EMA8 line with a small body candle trading just below it.
NYSE & NASDAQ Stocks
NVIDIA Corporation
NVIDIA made a gap with its selloff. Notice where the MACD turned red. Frontrunner also had falling tops to warn of a correction.
PepsiCo Inc
PepsiCo made a breakaway gap to the positive side to close above its 200 DMA. The average price target is $188.
JSE Stocks
JSE All Shares
The JSE All Shares broke its positive trend line to follow global markets lower.
Pick n Pay Stores Ltd
Pick n Pay made a -17.4% breakaway gap. Technically this company is bankrupt, and its rights issue may not be enough to save it?
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.
