EUR/USD 1.14146
0.008%
Gold 4056.38
1.220%
Oil 84.016
2.135%
USD/JPY 162.867
0.236%
GBP/USD 1.33834
-0.348%
GBP/JPY 217.976
-0.110%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
India will host the 16th BRICS Health Ministers Meeting from July 22 to 24.Ecuadors oil shipments via the SOTE pipeline increased by 11.7% in the first half of the year.The yields on 10-year and 30-year U.S. Treasury bonds hit two-month highs.British Defence Secretary: (Regarding Russias military exercises near the British coast) This is irresponsible.On July 21, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, and Li Hongzhong, member of the Political Bureau of the CPC Central Committee and Vice Chairman of the Standing Committee of the National Peoples Congress, met separately in Beijing with a delegation led by McArist, Chairman of the European Parliaments Committee on Foreign Affairs. Wang Yi welcomed the European Parliaments Committee on Foreign Affairs first visit to China and expressed hope that the delegation would strengthen exchanges with various sectors of Chinese society to gain a true, multifaceted, and continuously developing and progressing China. China is willing to strengthen coordination and cooperation with the EU in global affairs to promote an equitable and orderly multipolar world and inclusive economic globalization. The EU side stated that it attaches great importance to its relations with China, admires Chinas tremendous development achievements, opposes "decoupling" from China, and is willing to maintain close communication and strengthen cooperation with China. Li Hongzhong noted that since the beginning of this year, President Xi Jinping has held meetings with leaders of many European countries who have visited China, reaching important consensus. The National Peoples Congress of China is willing to work with the European Parliament to maintain and strengthen the current momentum of exchanges, playing a positive role in enhancing mutual understanding and trust, respecting each others core interests, deepening pragmatic cooperation, and jointly upholding multilateralism between China and the EU. The European side stated that the European Parliament is willing to strengthen communication and exchanges with China to promote the development of EU-China relations.

The S&P 500 Continues to Face Overhead Pressure for the Week

Cory Russell

Apr 24, 2022 10:16

S&P 500 Weekly Technical Analysis

During the week, the S&P 500 attempted to rebound, but ran into enough resistance near the 4500 level to turn things around and show symptoms of weakness. As a result, the market seems to be struggling, and we may be staring at the 4100 level in the near future.


Looking at this chart, it's clear that we have further downward to go, but I believe it's just a matter of time until we break down. The whole Thursday and Friday sessions were a nightmare, and they aren't showing any signs of slowing down. As a result, I anticipate the market will not only retest, but may potentially break below the previous low. 


If we do, I believe the downward acceleration would be rather severe. Keep in mind that Wall Street is just now coming to terms with the possibility that they were mistaken about the Federal Reserve. The Federal Reserve will have to tighten monetary policy forcefully, which will damage everything, including the stock market.


We could make a case for attempting to shift the general structure of the market if we turn around a break above the 4500 level, but right now things seem quite bad, and I believe it's just a matter of time until we see a huge move to the downside. It would be a really bullish move to flip around and knock out the top of the candlestick for this week.

Suggestion