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On September 13th, the U.S. National Highway Traffic Safety Administration (NHTSA) announced that Volvo Cars will recall 1,355 2026 model year XC90 MHEV, XC60 MHEV, V90CC MHEV, and V60CC MHEV vehicles. The recall is due to a possible damage to the torsion bar in the front seatbelt retractors during production. Dealers will replace both front seatbelt retractors free of charge.On September 13, Zhijie Automobile officially announced that the first batch of deliveries of the new Zhijie R7 and Zhijie S7 officially started at the Zhijie Super Factory.On September 13, Robert Kaplan, vice president of Goldman Sachs Group, said that investors are beginning to question whether they have invested too much money in the United States, and more and more financial institutions are looking to Europe and Asia for growth opportunities. Kaplan said on Friday that some investors are considering whether they should start hedging the US dollar to protect against exchange rate fluctuations. "What has happened since January is that people are still optimistic about the United States, but they are starting to say: I think our allocation to the United States is too high." Kaplan said. "We are having hedging conversations with people around the world, and some of them have never hedged the US dollar in the past 15 years." Kaplan pointed out that although investors still regard the United States as a safe haven for funds, "they have a little more confusion about the US institutional framework."Russian Ministry of Defense: Air defense systems shot down 42 Ukrainian drones in the early hours of Saturday morning.1. The three major U.S. stock indices closed mixed, with the Dow Jones Industrial Average down 0.59%, the S&P 500 down 0.05%, and the Nasdaq up 0.44%, hitting new all-time highs. Merck and Sherwin-Williams fell over 2%, leading the Dow lower. The Wind S7 Index rose 1.14%, with Tesla up over 7% and Apple up over 1%. Chinese concept stocks saw mixed results, with JinkoSolar up over 6% and Douyu down over 4%. 2. U.S. Treasury yields rose across the board, with the 2-year Treasury yield up 0.99 basis points to 3.549%, the 3-year Treasury yield up 1.94 basis points to 3.527%, the 5-year Treasury yield up 3.81 basis points to 3.633%, the 10-year Treasury yield up 4.57 basis points to 4.070%, and the 30-year Treasury yield up 2.69 basis points to 4.681%. 3. International precious metal futures generally closed higher. COMEX gold futures rose 0.19% to $3,680.70 per ounce, a weekly gain of 0.75%. COMEX silver futures rose 1.26% to $42.68 per ounce, a weekly gain of 2.71%. 4. International oil prices rose slightly. The main contract for US crude oil closed up 0.37% at $62.60 per barrel, a weekly gain of 1.18%. The main contract for Brent crude oil rose 0.77% to $66.88 per barrel, a weekly gain of 2.11%. 5. London base metals rose across the board, with LME zinc futures up 1.93% at $2,956.00/ton, up 3.32% for the week; LME nickel futures up 1.52% at $15,380.00/ton, up 0.95% for the week; LME lead futures up 1.13% at $2,019.00/ton, up 1.71% for the week; LME aluminum futures up 1.03% at $2,701.00/ton, up 3.86% for the week; LME tin futures up 0.74% at $34,955.00/ton, up 1.87% for the week; and LME copper futures up 0.13% at $10,064.50/ton, up 1.69% for the week.

S&P 500 Weekly Price Forecast – S&P 500 Breakthrough Resistance Barrier

Alice Wang

Nov 14, 2022 16:46

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Weekly Technical Analysis for the S&P 500

The S&P 500 E-mini contract has gained quite a bit this week as speculation about the Federal Reserve relaxing monetary policy has increased. Despite the fact that the US inflation rate came in at 7.7% year-over-year, it is difficult to foresee a scenario in which the Federal Reserve will ease monetary policy. In light of this, we now find ourselves in a scenario where the market has seized the initiative.


Before it's all said and done, I predict there will be a lot of dissatisfied traders. I view this situation through the lens of a "bear market rally."


Remember that some of the most volatile sessions take place in the middle of a bear market because traders were waiting for an excuse to go long and found it over the trading week. Whether or not that holds true moving forward, that will be entirely different. In the end, it's feasible that we could swiftly return to the 3700 level if we were to reverse course and break down below the 3950 level. On the other hand, we might have a potential figure breakout if we were to break above the 4050 level, which is where the 50-Week EMA is now located.


In the end, it's still uncertain whether this market has just produced a small "double bottom."


Remembering that we have been in a decline channel for some time is also important. Ultimately, I believe that there will be a great deal of volatility.