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Stock Market News

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Why do US stocks keep ignoring downside risks? – Stock Markets

Posted on March 14, 2024 at 10:34 am GMT

S&P 500 posts record high despite upbeat CPI print Projections of fewer rate cuts do not scare stocks Can this rally extend without a sizable correction?   Stocks unhindered by hotter-than-expected inflation report On Tuesday, the S&P 500 recorded a fresh all-time high, while both the Nasdaq 100 and Dow Jones finished the session in the green despite the stronger-than-expected US CPI print. Specifically, the headline inflation measure came out at 3.2% in annual terms for February against a 3.1% [..]

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Technical Analysis – Intel stock battles with 50-day SMA

Posted on March 13, 2024 at 9:51 am GMT

Intel shares advance after consolidation period But struggle to conquer the 50-day SMA Momentum indicators turn positive Intel’s stock had been stagnant since late January, following a significant bearish price gap in the aftermath of the firm’s Q4 earnings announcement. Although the price attempted a recovery in the past few sessions, the 50-day simple moving average (SMA) seems to be acting as a strong ceiling. If bullish pressures persist and the price conquers the 50-day SMA, immediate resistance could be [..]

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Technical Analysis – US 100 stock index at risk of double top

Posted on March 12, 2024 at 2:01 pm GMT

US 100 stock index forms bearish structure The market could balance selling forces above 17,800   The US 100 stock index (cash) seems to have formed a bearish double top pattern within a rising channel and around the peak area of 18,338. The bears will have to successfully complete that negative pattern below the 17,800-17,914 neckline to visit the 50-day exponential moving average (EMA) and the 23.6% Fibonacci of 17,389. Slightly lower, the constraining ascending line from January 2023 might act as a safety [..]

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Technical Analysis – Apple stock rebounds from 4-month low

Posted on March 12, 2024 at 1:36 pm GMT

Apple shares slide to the lowest since October 31 But find their feet and recoup minor losses Momentum indicators exit oversold territories   Apple’s stock has been very volatile in the past few months, opening frequently with significant price gaps. In the short term, the stock has been in a steep decline, falling to a fresh four-month bottom of 168.30 last week before paring some losses. Should the rebound falter, the bears might try to push the price back below the [..]

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Technical Analysis – US 500 cash index in the red again

Posted on March 11, 2024 at 8:39 am GMT

US 500 index trades lower after recording a new all-time high The pace of the rally remains aggressive but euphoria dominates Bears continue to closely monitor the stochastic oscillator’s movements The US 500 cash index is edging lower again today after recording a new all-time high of 5,189 last week. Friday’s mixed US labour market data do not appear to have dented the market’s bullish appetite but some profit taking has clearly taken place. Having said that, the pace of the rally since the [..]

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Apple and Tesla lag the Magnificent 7 pack – Stock Markets

Posted on March 7, 2024 at 1:50 pm GMT

Magnificent 7 propel US indices to record highs Apple diverges due to lack of AI initiatives Tesla also suffers from weakness in Chinese market   AI leads the way The so-called Magnificent Seven group comprised of Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms and Tesla has been the driving force behind the consecutive all-time highs observed in the major US equity indices. The tech behemoths have largely benefited from the Artificial Intelligence (AI) mania, with the latest earnings season providing clear evidence [..]

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Technical Analysis – US 100 stock index meets familiar support zone

Posted on March 5, 2024 at 4:16 pm GMT

US 100 stock index turns red after all-time high Downside risks balanced above 20-day EMA   The US 100 stock index (cash) has been in a clear uptrend since October 2023, gaining 28% to pause at a record high of 18,339 on Monday. The index opened at the back foot on Tuesday, but the bearish move is not a concern yet. Instead, the negative action can be considered part of the upward pattern as long as the price holds above the 17,945 level. [..]

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Technical Analysis – US 500 battles with 123.6% Fibonacci

Posted on March 4, 2024 at 11:10 am GMT

US 500 cash index extends its series of record highs       Tests 123.6% Fibonacci extension of its 2022 downtrend Oscillators look overbought, increasing risk of a pullback The US 500 stock index (cash) has been staging an impressive rally since it bottomed out in October 2023, generating consecutive all-time highs. Given that the price is trading into uncharted waters, the Fibonacci extensions of its most recent downtrend could provide potential future resistance zones. Should bullish pressures persist, buyers might initially claim 5,130, which is the 123.6% Fibonacci [..]

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Technical Analysis – US 30 index retreats near the medium-term uptrend line

Posted on February 29, 2024 at 8:40 am GMT

US 30 index still above ascending trend line Technical oscillators confirm the latest bearish move The US 30 (cash) index is easing after it reached a fresh all-time high of 39,284.42 on Friday. Currently the price is testing the medium-term uptrend line for a potential bearish correction but also a rebound is expected. Technically, the MACD is holding beneath its trigger line in the positive territory, while the stochastic oscillator is moving lower after the bearish crossover within its %K [..]

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As earnings season winds down, what’s next for US stocks? – Stock Markets

Posted on February 29, 2024 at 7:28 am GMT

Solid Q4 earnings season driven by Magnificent 7 Stocks extend rally despite bets for fewer rate cuts Excluding an exogenous event, no risks on the horizon Corporate earnings aid stock market rally As most US companies have revealed their Q4 financials, it is now safe to draw some conclusions regarding the health of the corporate world. The results have been more than encouraging, with the S&P 500 being on track for a 10.0% annual earnings growth according to LSEG, beating [..]

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