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On January 20th, Hong Kong stocks fluctuated, with the Hang Seng Index closing down 0.29% at 26487.51 points. The Hang Seng Tech Index closed down 1.16% at 5683.44 points. The total turnover of the Hang Seng Index market was HK$237.766 billion. On the sector front, department store stocks declined, AIGC (AI, Generic, and Consumer Electronics) stocks and Apple concept stocks fell, and pharmaceutical stocks were weak; gold stocks strengthened, new consumption concept stocks rebounded, and airline stocks continued their upward trend. In terms of individual stocks, Shanghai Auntie (02589.HK) rose 9.87%, Pop Mart (09992.HK) rose over 9%, GigaDevice (03986.HK) and Zijin Mining International (02259.HK) rose 5.5%, and China Southern Airlines (01055.HK), China Life Insurance (02628.HK), Mao Geping (01318.HK), and Nayuki (02150.HK) rose over 4%; New World Development (00017.HK) fell 10.6%, Zhipu (02513.HK) fell 7.4%, Country Garden (02007.HK) fell over 6%, WuXi AppTec (02359.HK) fell 4.1%, and BYD (01211.HK) fell 3.67%.On Tuesday, January 20, the Hang Seng Index closed down 76.39 points, or 0.29%, at 26,487.51; the Hang Seng Tech Index closed down 66.54 points, or 1.16%, at 5,683.44; the H-share Index closed down 39.69 points, or 0.43%, at 9,094.76; and the Red Chip Index closed up 46.21 points, or 1.12%, at 4,188.73.Hong Kong stocks closed down 0.29% and down 1.16%. New consumption concept stocks bucked the trend and rose, with Pop Mart (09992.HK) up 9%, Shanghai Auntie (02589.HK) up nearly 10%, and Mao Geping (01318.HK) and Nayuki (02150.HK) up more than 4%.Renault shares rose 1.5% after the release of auto sales data.The Norwegian Petroleum Authority reported that Norways preliminary oil production in December was 1.962 million barrels per day, and its preliminary natural gas production in December was 11.4 billion cubic meters.

Stock Markets Continue to Put Up a Fight

Cory Russell

Jul 13, 2022 16:12

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The S&P 500 initially fell during the trading session on Tuesday but turned around to show signs of life.

Technical Analysis of the S&P 500

The S&P 500 has decreased significantly during Tuesday's trading session as a result of the ongoing disruptive behavior. At this time, it seems as if the market could attempt to rise, but before I consider a rally seriously, we would need to break above the 50 Day EMA. Beyond that, there is also the 4000 level, which has a significant psychological component, and the 4200 level, which has very strong structural resistance.


Alternatively, if we go below the candlestick's bottom during Tuesday's trading session, we might pass through the 3800 level and then fall considerably more. Given enough time, I believe that will happen more often than not, but at the moment, it seems like we are just passing the time and attempting to decide what to do next. It's also important to note that the general economic picture hasn't altered significantly and that all of the impulsive swings have been downward with the rare recovery.

 

Since most traders are ill-equipped to operate in a situation where businesses must really create in order to be rewarded in the market, it seems obvious that equities will continue to lose money as inflation and monetary tightening increase. Because the way the markets work is about to undergo a significant change, I would anticipate quite a bit of erratic behavior over the next several months. I'll still be playing this market by fading rallies.

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