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According to the latest view of Economies.com analysts on September 12th, spot gold prices continued to rise, benefiting from its stability above the EMA50 moving average, which provided dynamic support for prices and further strengthened the strength of the bullish trend. In addition, prices ran along the supportive bias line in the short term, indicating the continuation of the positive dominance on the technical side.According to Economies.coms analysts latest analysis from September 12th, WTI crude oil futures prices continue to decline, primarily due to negative pressure from prices stabilizing below the EMA50 moving average. Furthermore, the short-term downward trend remains intact, with prices fluctuating along a minor trendline, indicating a strong bearish bias. Currently, WTI crude oil futures are approaching key support at $61.65, and the market is closely watching for a test of this support level.ECB board member Simkus: Inflation risks are significantly high.On September 12, UBS downgraded China Resources Beverage (02460.HK) from Buy to Neutral, reflecting a more reasonable valuation. The target price was cut from HK$18.03 to HK$11.7. The report indicated that China Resources Beverages revenue and net profit in the first half of the year decreased by 19% and 29% year-on-year, respectively, falling short of market expectations. This was primarily due to a 23% year-on-year decrease in packaged water revenue, while beverage revenue increased by 21%. The decline in bottled water revenue was due to increased distributor rebates. As the negative impact of channel restructuring gradually subsides, bottled water sales are expected to recover in the second half of the year. Looking ahead to 2026, the bank anticipates a potential earnings turnaround due to continued strong growth in the beverage business and expected volume growth in bottled water. The bank cut its earnings forecasts for 2025-2027 to between 39% and 44%, reflecting a 22% to 23% reduction in its packaged water revenue forecast due to a downward revision in the average selling price (ASP) forecast for packaged water, as well as a 16% to 36% reduction in its beverage revenue forecast due to intensified competition. This resulted in a downward revision of EBIT margin forecasts.ECB board member Simkus: Economic activity is faster than previously observed.

S&P500 Update: The Bears Are In Charge, Is 3300 Next?

Florala Chen

Sep 19, 2022 15:21

After three waves up, five waves down

The S&P 500 has completed five Elliott Wave Principle (EWP) waves downward since the mid-August peak. Look at Figure 1 below. This pattern indicates to me that the market's current prevailing route is once again downward. In addition, the rally from June to August was just three waves long—a corrective, counter-trend rally. Therefore, a break below SPX3886—the low from last week and the low from today—tells me an impulsive path is probably emerging, as indicated.

微信截图_20220919151821.png

A Break Below SPX3886 Lets a Waterfall Decline Through

An impulsive pattern with ideal target zones of SPX3515-3400 for (red) W-iii/c, a probable W-iv bounce back to preferably SPX3675-3785, and a last decline to ideally SPX3230-3330 to complete W-v of W-c of W-A is made possible by a break below the early September low of SPX3886.


This overall wider picture W-A has a tiny subtlety, but the expected path and downside goals remain the same. I'll therefore talk about it when we arrive. In contrast, the index has to rise over this week's high of 4119 to signal that a bearish trend is not developing and that 4500 is the next level. But for the time being, I want to gaze downward.

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