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The Hang Seng Index turned negative, while the Hang Seng Tech Index fell 0.12%.On March 31, it was reported that the Jiangsu Provincial Government held an executive meeting on March 30. The meeting reviewed several measures to accelerate the transformation and upgrading of the provinces construction industry, the guiding opinions on stabilizing the real estate market, the opinions on further improving the investment and financing mechanism to accelerate the construction of expressways and trunk waterways, and the work plan for the special action to address traffic congestion in Jiangsu Province. The meeting also heard a report on the provinces comprehensive governance of the "one-stop" service for new energy vehicle charging infrastructure. The meeting emphasized the need to orderly promote cross-sectoral integration and business expansion of construction enterprises, apply intelligent and green technologies, implement precise policies to stimulate housing consumption, optimize supply, and stabilize expectations, build a diversified and sustainable funding guarantee system for expressways and trunk waterways, focus on optimizing road network structure and traffic service management, and comprehensively improve the safety level of planning, construction, operation, and supervision of new energy vehicle charging infrastructure.March 31 – A symposium on grain trading within the grain and reserve system was held in Nanjing, Jiangsu Province, from March 26 to the morning of March 27. The meeting emphasized the need for a scientific assessment of the new situation and accurate understanding of new changes. It stressed the importance of focusing on the present while considering the future, centering on three core directions: serving macro-control, serving industrial development, and serving market entities. The meeting called for comprehensive and all-round improvement in quality and efficiency, continuously elevating the quality, level, and scope of grain trading work, and providing solid support for consolidating the foundation of food security and achieving a good start to the "15th Five-Year Plan" for grain and reserve work.According to media reports, Korean Air has declared a state of emergency.Dubai Media Office: The emergency response team has successfully extinguished the fire on the Kuwaiti oil tanker.

S&P 500 Price Forecast – Stock Market Drifts

Eric Stanberg

Dec 20, 2022 18:05

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Technical Analysis of the S&P 500

On Monday throughout the day, the S&P 500 E-mini contract attempted to rise at first but rapidly gave up gains. As of right now, it seems like there will be a lot of negative pressure, which might allow us to go as low as the 3800 mark. Looking at this chart, it is a region where it has historically been loud, so don't be at all surprised to see it behave that way once again. You're talking about 3750 being the goal if we break down below the 3800 mark.


On the other side, if we reverse course and break above the 50-Day EMA, which is now hovering around the 3928 level, we may then move our attention to the 4000 level above, which is just below the 200-Day EMA. Alternately, you can observe that we have been trading in an expanding wedge or what is known as a "megaphone pattern," which often signals the impending start of an explosive surge in either direction. The Federal Reserve has restated its aim to maintain a restrictive monetary policy, thus everything now looks to be heading downward.


Corporate profits will continue to decline as the globe enters a recession, which should, in principle, bring the market down with it. It said, I wouldn't place too much stock in that since you never know what risk Wall Street is ready to accept at any particular time. Remember that unstable situations could result in a lot of noise on arbitrary headlines.

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