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Kioxia Holdings shares rose 5.1% in Tokyo.The status page indicates a malfunction, with some users of the Apple (AAPL.O) App Store, Apple TV, and iTunes Store experiencing service outages.On January 21st, according to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed slightly lower on Tuesday, with the benchmark contract down 0.1%, mainly due to the unlocking of oil-meal arbitrage opportunities. The most actively traded March contract traded between 52.41 cents and 53.19 cents. Traders said the unlocking of arbitrage opportunities involving buying soybean oil and selling soybean meal put downward pressure on soybean oil prices. However, the upcoming clarification of US biofuel policy and optimistic market sentiment, coupled with rising international crude oil futures and Malaysian palm oil prices, limited the downside potential for soybean oil prices.Integrated Circuits (Chips): 1. Samsung Electronics and SK Hynix are expected to reduce NAND flash memory production this year. 2. TSMC is increasing investment in advanced packaging, as Apples A20 chip may adopt WMCM technology. 3. Gree Electric Appliances automotive silicon carbide chips will enter mass production; Dong Mingzhu stated that half of the chips will be supplied to GAC Group in the future. Artificial Intelligence: 1. Musk: Dont let your loved ones use ChatGPT. 2. ServiceNow and OpenAI have reached a three-year cooperation agreement. 3. Nvidia invests $150 million in AI inference startup Baseten. 4. Japans Finance Minister: Plans to invest over $330 billion in AI and chip sectors. 5. ByteDance has reportedly rapidly expanded the scale of its enterprise cloud product, Volcano Engine, in recent months. 6. Dark Side of the Moon is expected to release a significant model technology update soon, possibly the K2-VL multimodal large model that has attracted much attention. 7. The X Engineering team stated that it has open-sourced the new X algorithm, which uses the same Transformer architecture as the Grok model. 8. Anthropic CEO: AI development could lead to a 10% unemployment rate in the future, and the government must take action. Other: 1. Netflix changed its acquisition strategy to an all-cash deal for Warner Bros. Discovery, aiming to suppress Paramounts bidding. 2. Shanghai: Starting February 1st, micro, light, and small drones no longer need to declare their flight in suitable airspace. 3. Paris court ruled that Apple can retain AT&Ts (App Tracking Transparency Framework) functionality. 4. Ministry of Finance: Expanding the scope of loan support for equipment upgrades to include aviation equipment, artificial intelligence, and other fields. 5. CrowdStrike announced the launch of new regional clouds in Saudi Arabia, India, and the UAE to expand secure data sovereignty. 1. All three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 1.76% to 48,488.59 points, the S&P 500 fell 2.06% to 6,796.86 points, and the Nasdaq Composite fell 2.39% to 22,954.32 points. 3M fell nearly 7%, and IBM fell more than 4%, leading the Dows decline. The Wind U.S. Tech Big Seven Index fell 3.06%, with Nvidia and Tesla falling more than 4%. Most Chinese concept stocks fell, with Jinko Solar falling more than 12% and 21Vianet falling more than 10%. The S&P 500 recorded its biggest drop since October. 2. All three major European stock indexes closed lower. The German DAX fell 1.08% to 24,689.67 points, the French CAC40 fell 0.61% to 8,062.58 points, and the UK FTSE 100 fell 0.67% to 10,126.78 points. 3. Most major Asia-Pacific stock indexes closed lower. The Nikkei 225 index fell 1.11% to 52,991.1 points, marking its fourth consecutive day of decline. Escalating tensions between the US and Europe, rising yields on Japanese long-term government bonds, and concerns about fiscal deterioration weighed on the stock market. The South Korean KOSPI index fell 0.39% to 4,885.75 points, ending a 12-day winning streak, with semiconductor and auto stocks declining. US Treasury yields rose across the board: the 2-year yield rose 1.68 basis points to 3.595%, the 3-year yield rose 3.35 basis points to 3.678%, the 5-year yield rose 5.10 basis points to 3.857%, the 10-year yield rose 7.94 basis points to 4.293%, and the 30-year yield rose 8.85 basis points to 4.920%. 5. International precious metals futures generally closed higher. COMEX gold futures rose 1.98% to $4,769.10 per ounce, and COMEX silver futures rose 0.19% to $94.46 per ounce. 6. The WTI crude oil futures contract closed up 0.15% at $59.52 per barrel; the Brent crude oil futures contract fell 0.06% to $63.9 per barrel. 7. Most London base metals declined. LME copper fell 1.3% to $12,796.5 per tonne, LME zinc fell 1.44% to $3,175 per tonne, LME nickel fell 2.06% to $17,760 per tonne, LME aluminum fell 1.27% to $3,118.5 per tonne, LME tin rose 0.8% to $49,650 per tonne, and LME lead fell 1.58% to $2,028 per tonne.

S&P 500 Price Forecast – 50-Day EMA Continues to Offer Eupport

Cory Russell

Dec 09, 2022 15:49

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Technical Analysis of the S&P 500

During the trading day on Thursday, the S&P 500 fluctuated back and forth as we remained close to the 50-Day EMA. It's not shocking to see that we have bounced from this point because the 50-Day EMA is an indicator that many traders will pay attention to. You should look at the 3900 level if we were to break down below the 50-Day EMA. After that, you should also look at the 3800 level, which has historically provided a lot of support and resistance.


Remember that the Federal Reserve will decide on interest rates the following week, and many traders will be watching the announcement to see if it provides any clues as to where we might be headed. It should be emphasized that tomorrow will see the release of the PPI statistics from the United States, which will undoubtedly have a significant impact on what happens next.


The market is located between the 50-Day EMA and the 200-Day EMA indicators, which naturally has a significant impact on technical analysis and all other forms of algorithmic systems. To put it another way, a significant movement would not come as a tremendous surprise, but it might be influenced by the Federal Reserve meeting or even the CPI reading. Given that the year is almost coming to a finish and there is a dearth of liquidity, I'm not particularly hoping for anything significant in the meantime.