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US President Trump posted a picture on social media with the caption: "The governments initial $8.9 billion investment in Intel (INTC.O) is now worth more than $51 billion."Hong Kong-listed tech stocks continued their decline, with Meituan (03690.HK) falling over 7%, SenseTime (00020.HK) and Kingdee International (00268.HK) down 5%, Baidu (09888.HK) down 3.8%, Bilibili (09626.HK) down 3.6%, and JD.com (09618.HK), Alibaba (09988.HK), and Tencent Holdings (00700.HK) all falling over 3%.Futures Market News, May 28th: 1. Jiangsu Jingshen Chemicals soda ash plant began maintenance on May 15th, expected to last half a month. Prices are stable, with light soda ash quoted at 1250 yuan/ton ex-factory. 2. Hubei Shuanghuans soda ash plant is running again. Prices are stable, with light soda ash quoted at 1180-1200 yuan/ton. 3. Zhongyan Anhui Hongsifangs soda ash plant began maintenance on May 15th, expected to last one month. 4. Taiwan Glass Group Shilian Chemical (Jiangsu) Co., Ltd.s soda ash plant is undergoing maintenance, starting May 7th, expected to last one month. 5. Inner Mongolia Boyuan Yingen Chemicals 7.8 million tons/year soda ash plant is operating at reduced capacity. Currently, the ex-factory price of qualified light soda ash is 820 yuan/ton. 6. Tangshan Sanyous 2.3 million tons/year soda ash plant is operating at 70% capacity. 7. Guangdong Nanfang Alkali Industrys 600,000 tons/year soda ash plant is operating at 60-70% capacity. 8. Tianjin Alkali Plants 800,000-ton/year soda ash unit is operating at reduced capacity. The current ex-factory price of light soda ash is 1,300 yuan/ton, and transactions are negotiable.On May 28th, NIO CEO William Li mentioned during a media Q&A session about the NIO ES9 that the prices of raw materials, including nickel, cobalt, and lithium carbonate, have risen this year, increasing the cost of a single vehicle by more than 10,000 yuan. Li noted that the impact of commodities and memory chips on the automotive industry extends beyond the automotive sector to other, more rapidly growing and lucrative industries, leaving automakers with little bargaining power. He added that memory chip prices have not yet decreased after this years rise, and the increased costs from raw materials are unlikely to decrease in the short term; these costs will have to be absorbed by the companies themselves.The yield on Japans 20-year government bond rose 2.0 basis points to 3.615%.

S&P 500 Price Forecasts – Market Bounces From Oversold Condition

Lorna Divakar

Sep 27, 2022 16:43

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Technical Analysis of the S&P 500

The S&P 500 originally declined during Monday's trading session, although at this point it is a little oversold and we are close to a significant support level. Having said that, I believe we are in a situation where a short-term relief rally will occur. A little bounce does make some sense. Having said that, I don't believe it's necessarily going to be something that can endure; I simply believe that things have out of hand.


The 50-Day EMA would come next, and the 3800 level above would most certainly be a strong hurdle.


Since the market has been declining for quite some time, a short covering recovery might eventually occur. However, if you look at the last several weeks, it has been very tough for buyers to gain any momentum. In the end, I do believe we could drop below the lows, though not necessarily immediately away. In the end, the 3600 level and perhaps the 3500 level make a lot of sense.


I believe that many investors are attempting to exit their short positions in order to benefit as it is clear from this chart that the slope of change was exaggerated. Although there is a negative correlation between the two markets, which should persist, I do believe that you will need to pay close attention to it because the interest rate market has been such a significant factor in where we are going.

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