American Stock Market Exchange

On the daily chart, the development of the third wave of the higher level 3 has completed, in which wave (5) of 3 has formed, and the development of a downward correction as the fourth wave 4 continues. At the moment, wave (A) of 4 has formed, wave (B) of 4 has completed and wave (C) of 4 is developing, in which the first wave of the lower level 2 of (C) was formed.

If the assumption is correct, the price will fall to the levels of 148.43 - 127.03. The level of 170.35 is critical and stop-loss for this scenario.

The leading index of the Frankfurt Stock Exchange DAX 30 is trading at 14300. The German stock market shows a slight corrective growth after the publication of positive financial statements of the main components.

Earlier, the national postal service Deutsche Post AG presented its data, which reported revenue of 22.59B euros, which significantly exceeded the analysts' forecast, which assumed a value of 20.54B euros. Earnings per share also exceeded preliminary market estimates of 0.9309 euros and amounted to 1.0800 euros. The statistics of the world's largest automaker, Volkswagen AG, also turned out to be positive: quarterly revenue was recorded at 62.74B euros, exceeding the forecast of 61.55B euros. Earnings per share amounted to 13.05 euros, which is the highest since Q1 2020. Siemens AG's medical equipment manufacturing division, Siemens Healthineers AG, reported revenue of 5.46B euros, improving both analysts' forecast of 4.98B euros and the previous quarter's figure of 5.07B euros. Earnings per share have become a record since 2018, amounting to 0.67 euros per share. 



On the daily chart, the index is preparing to start working out the local Flag pattern. Technical indicators will soon reverse and give a signal for the start of purchases: the range of EMA fluctuations on the alligator indicator has begun to actively narrow, and the histogram of the AO oscillator is approaching the transition level, forming ascending bars.

Support levels: 13555, 12460 | Resistance levels: 14500, 15710

The leading index of the US economy, the S&P 500, is correcting downwards, being under pressure from the upward dynamics in the bond market, and is now trading at 4083.5.

The publication period for corporate reports ends, and its results rather disappointed investors. Among the companies that presented their data at the end of last week, the main competitor of Tesla Inc., the American electric car manufacturer Lucid Group Inc. is worth noting. The issuer increased quarterly revenue to 57.68M dollars, which exceeds 26.39M dollars, received in the previous quarter, and 313K dollars in 2021. Earnings per share narrowly missed the positive zone, stopping at ?0.05 dollars, which is much better than the loss of ?0.64 dollars a quarter earlier. Positive dynamics develop due to the growing demand for the luxury model of the Lucid Air electric car. The company's customers have already reserved more than 30K cars, which will bring the company revenue of about 2.9B dollars.

Serious pressure on risky assets is exerted by the situation in the domestic bond market. For example, the popular 10-year Treasury reached an all-time fall 2018 all-time high of 3.142%, rising from 2.950% in a week, while 20-year bonds are trading at a yield of 3.4606%, which is higher than the 3.2214% shown at the beginning of the month. Only annual bonds did not grow over the past week. Its yield is 2.106%.



The index quotes are traded in a global downward channel, falling towards the support line. Technical indicators hold a global sell signal: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram is trading in the sell zone, forming down bars.

Resistance levels: 4280, 4590 | Support levels: 4000, 3800

The shares of Snap Inc., the American company that owns the Snapchat messaging service, are falling around 21.

On the daily chart of the asset, a global downtrend is forming, within which the price began to implement the Triangle pattern: the support line at 32 was successfully broken, and now, sell positions can be active.

On a four-hour chart, the price renewed the year's minimum at 24, and now, the main target for the downward movement is around 12.

Technical indicators confirm the high probability of continuing the global decline, maintaining a stable sell signal: indicator Alligator's EMA fluctuations range actively expands downwards, and the histogram of the AO oscillator grows in the sell zone.

One of the leading indexes of the American economy Dow Jones moves downward around 32080.

The main news of the past week was the statement of the head of Tesla Inc., Elon Musk, that the deal to buy the social network Twitter is temporarily suspended due to verification of data confirming calculations that fake accounts make up no more than 5% of the total number of daily active users. Shares of the service immediately reacted to this with a drop of 25%, although they later partially recouped losses after the entrepreneur, in a new tweet, said that he still intends to complete the deal.

Meanwhile, the yield on the popular 10-year government bonds fell to 2.908% late last week, while the conservative 20-year notes lost just over 1.00% and are now trading at 3.3057%, which is still quite high, so the negative pressure on the stock market remains.



The asset moves within a wide downward channel, approaching the support line. Technical indicators maintain a stable sell signal: indicator Alligator?s EMA fluctuations range is actively expanding, and the histogram of the AO oscillator is forming new downward bars in the sell zone.

Resistance levels: 32550, 34100 | Support levels: 31620, 30000

The shares of Tesla Inc., the world's leading manufacturer of electric cars, continue their global correction, trading at 709.

On the daily chart of the asset, the price is moving within the global Expanding formation pattern with dynamic extremes at 1150?500. At the moment, the instrument is forming the fifth wave of the pattern, which is one of the two most probable waves.

On the four-hour chart, the rate can already break the low of the third wave at 700.00 today, which will be a signal to continue the downward movement. The readings of technical indicators confirm the likelihood of a decline: fast EMAs on the Alligator indicator are actively moving away from the signal line, and the AO oscillator histogram is forming bars with a downward trend in the sell zone.

The shares of Bank of America Corp., one of the largest banks and analytical agencies in the US, are trading within a corrective trend around the level of 36.

On the daily chart of the asset, the price moves within the global downwards channel with dynamic boundaries 29 ? 38, declining towards the support line, which coincides with the Fibonacci 61.8% retracement level at 30.

On a four-hour chart, it is clear that to continue the global decline, the instrument needs to consolidate below an intermediate correction of 50.0% Fibonacci around 34. The readings of technical indicators confirm the probability of this scenario: the range of fluctuations of the EMA on the Alligator indicator expands downwards, and the histogram of the AO oscillator forms downward bars in the sell zone.

The shares of The Home Depot Inc, the world's largest home improvement company, are actively declining, trading around 302.

On the daily chart of the asset, a global downtrend is forming, within which the price is holding above the resistance line of the first stage of correction, forming a channel with dynamic boundaries 279?317. On a four-hour chart, it can be seen that the downwards channel is a slowdown stage for the global decline, the continuation of which may lead to a change in trend and the price reaching a local maximum at 339.

Technical indicators began to weaken the sell signal: the range of fluctuations of the EMA on the alligator indicator is actively narrowing, and the histogram of the AO oscillator is forming rising bars, quickly approaching the transition level.