EUR/USD 1.16978
0.137%
Gold 3452.39
1.034%
Oil 63.700
-0.573%
USD/JPY 146.956
0.020%
GBP/USD 1.35148
0.024%
GBP/JPY 198.605
0.048%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to the Wall Street Journal: Spirit Airlines is preparing to file for bankruptcy again.The Dow Jones Industrial Average closed down 92.02 points, or 0.20%, to 45,544.88 on Friday, August 29; the S&P 500 closed down 41.60 points, or 0.64%, to 6,460.26 on Friday, August 29; and the Nasdaq Composite closed down 249.61 points, or 1.15%, to 21,455.55 on Friday, August 29.The Federal Reserve announced on Friday, August 30, that it had finalized new capital requirements for the largest U.S. banks following the June stress test, but added that Morgan Stanley (MS.N) is seeking a reassessment of its upcoming capital requirements. The new capital requirements will take effect on October 1 and could be updated if the Fed adopts a proposal under consideration to average the results of two years of stress tests. Based on its annual financial stress test of large banks, the Fed assesses banks performance under a hypothetical economic downturn scenario and sets their capital buffers accordingly. Morgan Stanley is requesting a reconsideration of its results, and the Fed will announce its decision by the end of September.The U.S. Commodity Futures Trading Commission (CFTC): As of the week ending August 26, stock fund speculators increased their net short position in the S&P 500 CME futures by 62,459 contracts to 428,262 contracts. Stock fund managers increased their net long position in the S&P 500 CME futures by 3,284 contracts to 867,359 contracts.U.S. Commodity Futures Trading Commission (CFTC): As of the week ending August 26, crude oil speculators increased their net short positions in WTI futures by 1,978 contracts to 13,357 contracts.

Stock Markets Continue to Put Up a Fight

Cory Russell

Jul 18, 2022 15:12

微信截图_20220718150741.png

Weekly Technical Analysis for the S&P 500

The S&P 500 has declined considerably over the last week, but it's important to remember that the previous three candlesticks have all been hammers, which does indicate that a balance or perhaps a breakout to show signs of life is very approaching. Having said that, I believe the market will, more often than not, exhibit a scenario in which there will be a brief rebound and maybe a bid to test the 4200 level. If we could break through the 4200 level, which has served as a big area of resistance as well, the general trend would alter.


On the other side, this market is likely to crash very severely if we reverse course and break down below the 3640 level and, therefore, the 200 day EMA. Given everything being equal, I think this market is a touch oversold, so a little rebound makes some sense. The market will likely continue to be choppy and noisy, and you should be concerned about the fact that we are almost certainly heading into a recession, despite what some people on Wall Street would have you believe. Keep in mind that we are about to enter the earnings season, so you need to pay close attention to pre-market volatility.


In the end, I believe fading rallies will continue to be effective, but we must wait for those rallies to take place in order to get some opportunity and a better risk-to-reward ratio.

Suggestion