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Iranian Foreign Ministry Spokesperson: Apart from Switzerland acting as an intermediary, communication channels between Iran and the US special envoy remain open.On January 12th, analysts at Metzler Asset Management noted in a report that domestic politics in Japan are once again putting pressure on the yen. Sources indicate that Prime Minister Sanae Takaichi is considering dissolving the House of Representatives, which could trigger a new general election in February. Analysts stated that although the Prime Ministers Liberal Democratic Party currently holds slightly less seats in the House than the absolute majority needed, polls suggest it may win more seats in the new election. "Market participants may worry that this will lead the government to take further measures to curb prices, thereby reducing the likelihood of a Bank of Japan interest rate hike, and thus putting downward pressure on the yen."On January 12th, the Hang Seng Index opened more than 100 points higher and trended upward throughout the day. In the afternoon, driven by a surge in tech stocks and AI applications, the Hang Seng Index rallied by over 300 points, breaking through the 26,500 mark. The Hang Seng Tech Index performed strongly throughout the day, rising over 3% at one point in the final minutes of trading. At the close, the Hang Seng Index rose 1.44% to 26,608.48 points, and the Tech Index rose 3.1% to 5,863.2 points. The total turnover of the Hang Seng Index reached HK$306.223 billion (compared to HK$245.13 billion in the previous trading day). On the sector front, AI applications led the gains, while tech stocks and internet healthcare performed well. Oil and gas equipment and lithium battery sectors saw the largest declines. In terms of individual stocks, Alibaba Health (00241.HK) closed up 10.23%, Kuaishou (01024.HK) closed up 7.43%, Zhipu (02513.HK) closed up 31.4%, Alibaba (09988.HK) closed up 5.32%, and CATL (03750.HK) closed down 2.45%.The Hang Seng Index closed up 376.69 points, or 1.44%, at 26,608.48 on Monday, January 12; the Hang Seng Tech Index closed up 176.06 points, or 3.1%, at 5,863.2; the H-share Index closed up 171.55 points, or 1.9%, at 9,220.08; and the Red Chip Index closed up 12.89 points, or 0.31%, at 4,113.96.Hong Kong stocks closed higher, with the Hang Seng Index rising 1.44% and the Tech Index rising 3.1%. The AI application sector saw a collective surge, with Zhipu (02513.HK) rising 31.4% and MINIMAX-WP (00100.HK) rising 15.36%.

US Stock Markets Continue to Get Hammered

Skylar Shaw

Apr 26, 2022 10:51


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S&P 500 Technical Analysis

The S&P 500 has dropped down to about 4200 points. The market may fall considerably lower, but we're a touch overextended right now, so a comeback makes sense. As a result, I am more than happy to jump all over a bounce, especially because there is still a lot of pessimism. If we break it down even further, the 4100 level is the next possible goal.


The 200 Day EMA is at 4400 and slanting lower on the upswing. I feel the market will struggle to break above that level, therefore if we can break above the 200 Day EMA, we may be able to turn things around. The Federal Reserve, on the other hand, remains quite hawkish, and this will continue to be one of the most important elements to consider.


Finally, this market seems to be in bad shape, so I'm waiting to see if we have a rebound that shows symptoms of tiredness that we may profit from. Traders will continue to be able to get engaged despite signs of weariness after a short-term rebound. In the end, I believe this is a market that is still quite loud but still favors the downside. Markets will not entirely turn around until we break over the 4500 level. Keep in mind that it's all about the Federal Reserve more than anything else.

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