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On Thursday, September 10, the Hong Kong Hang Seng Index opened down 289.78 points, or 1.15%, at 24,985.18; the Hong Kong Hang Seng Tech Index opened down 61.38 points, or 1.39%, at 4,359.41; the H-share Index opened down 99.56 points, or 1.19%, at 8,269.49; and the Red Chip Index opened down 36.28 points, or 0.85%, at 4,227.13.Hang Seng Index futures opened 1.04% lower at 24,915 points, a discount of 353 points.According to the Wall Street Journal: US President Trump took to the stage to present the Republican platform for the midterm elections.September 10th – This morning (September 10th), a roundtable meeting between the National Development and Reform Commission (NDRC) and senior executives of US multinational corporations operating in China was held in Beijing, themed "Embracing the 15th Five-Year Plan and Jointly Seeking New Development." Representatives from over 60 US companies operating in China, representing sectors such as technology computing power, industrial energy, and consumer medicine, including Amazon Web Services, NVIDIA, Dell, and Honeywell (China) Co., Ltd., attended the meeting. At the meeting, relevant departments of the NDRC introduced the policy considerations related to the 15th Five-Year Plan, the situation of my countrys foreign investment policies during the 15th Five-Year Plan period, the implementation results of the new round of large-scale equipment renewal and consumer goods trade-in policies, and the spirit of policies related to boosting consumption. Relevant officials introduced the development of Beijings economic and social development and promoted Beijings investment environment. Senior representatives of multinational corporations also delivered speeches and exchanged views.The main liquefied petroleum gas (LPG) contract surged by 200.00 yuan during the day, currently trading at 6969.00 yuan/ton, an increase of 2.95%.

S&P 500 Price Forecast — Stock Market Looking for Footing

Florala Chen

Aug 24, 2022 15:54

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In the E-mini contract, the S&P 500 has gained a little bit of stability during the Tuesday trading session as we get closer to a critical support level.

Technical Analysis of the S&P 500

In the early stages of the E-mini contract, the S&P 500 has moved in a rather narrow range. Having said that, this week is the Jackson Hole Symposium, which is practically guaranteed to make a lot of noise. In this case, I believe the trading public will be paying great heed to central bankers' pronouncements, which, of course, may sometimes result in complete pandemonium.


In this case, I believe we could have a brief rebound followed by increased selling pressure. The 200-Day EMA is located around 4185, and there is considerable resistance at the 4300 level above. It's also important to pay attention to the 50-Day EMA, which is at 4082 and climbing below; it may provide dynamic support.


I do believe that it is extremely possible that traders will look to the 50-Day EMA to salvage the market upward, regardless of whether or not this turns out to be the case. If we break it down below that, the market is probably just trying to get to the 4000 level. Anything below the 4000 mark indicates that we have once again altered our mentality and that more downside is yet to come.


One thing you can certainly bet on, in my opinion, is a lot of noisy volatility, mostly as a result of the central bankers' ranting in Wyoming. They will almost certainly underline their resolve to battle inflation, which means that monetary policies will continue to tighten throughout the globe.

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