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The main contract for the container shipping index (European route) rose more than 3.00% intraday, currently trading at 1834.7 points.On November 11, Politico reported that U.S. senators rejected an amendment proposed by Rand Paul that aimed to remove a clause he argued would "destroy the booming industrial hemp industry"—a clause included in the agreement to end the government shutdown. The amendment was rejected by a vote of 76 to 24. Only Texas Senator Ted Cruz and Paul himself, along with 22 Democratic senators, supported pushing the amendment forward. The clause severely restricted marijuana products with intoxicating effects that had been legalized since the passage of the 2018 Farm Bill. The Senates rejection of the amendment paves the way for Congress to finally pass an appropriations package, bringing Congress one step closer to ending the government shutdown. In an interview, Paul stated that he proposed the amendment not to "delay the process," but to protect the industrial hemp industry that has flourished in Kentucky since 2018.On Tuesday, November 11, the Hang Seng Index opened 99.03 points higher, or 0.37%, at 26,748.09; the Hang Seng Tech Index opened 46.46 points higher, or 0.79%, at 5,962.02; the H-share Index opened 41.47 points higher, or 0.44%, at 9,484.71; and the Red Chip Index opened 6.91 points higher, or 0.16%, at 4,274.62.Hong Kong stocks opened higher, with the Hang Seng Index up 0.37% and the Hang Seng Tech Index up 0.79%. New consumption, innovative drugs and gold stocks led the gains, with XPeng Motors (09868.HK) surging over 9%.Samsung Electronics shares rose up to 5% in South Korea.

S&P 500 Futures Continue to Consolidate

Cameron Murphy

Apr 20, 2022 10:22


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Technical Analysis of the S&P 500

During Tuesday's trading session, the S&P 500 dropped down slightly to indicate hints of weakness, but then rallied to challenge the 50 Day EMA. In the end, if we can break over the 50 Day EMA, we'll most likely go for the 4500 level. The market's break over the 4500 level opens the door to a move to the 4600 level, although that level is likely to be tough to reach at this time.


Keep an eye on the interest rate situation in the United States, which will continue to be a key issue, since we have seen so much in the form of a headwind for the stock markets. Keep in mind that the market is going to experience a lot of noise at best, so keep that in mind. I believe that if we break below the hammer from Monday's session, we will be able to break below the 4350 level, which would open up the 4300 level, and then the 4100 level.


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There are lots of unfavorable conditions out there that continue to work against a stronger stock market, so it's understandable that we'll see a lot more selling pressure in the future. If you notice symptoms of fatigue, I believe you should either purchase puts or take gains if you are a "long-only" trader. At best, the market is highly loud, so you should be wary of the volatility and keep your position size minimal.

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