EUR/USD 1.13761
0.058%
Gold 4010.73
-0.394%
Oil 70.214
-1.556%
USD/JPY 161.621
-0.108%
GBP/USD 1.32003
0.077%
GBP/JPY 213.349
-0.020%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Asian tech stocks generally fell on Friday after Apple raised prices. Investors are concerned that rising component costs will dampen demand for end devices and ultimately drag down memory chip prices, which have been supporting the AI investment boom. The market is reassessing whether soaring memory prices, driven by continued strong AI demand, will begin to suppress overall spending by increasing costs for electronics manufacturers and consumers. Apples price increase is one of the clearest signals yet that the industrys pricing power may be at the expense of future demand, prompting the market to reassess the valuation of AI-related semiconductor stocks. "The market is no longer viewing rising memory prices as a necessary positive factor for the entire AI deal," said Charu Chanana, chief investment strategist at Saxo Bank. "While this demonstrates that demand for AI infrastructure remains strong, it also drives up the cost of building and using AI. The risk is that the current strong memory chip cycle may slow down the entire AI deal in the future, and the market has already begun to price this in."According to IFR, a Reuters subsidiary, Zhejiang Laifu Harmonic Drive Co., Ltd. has set its Hong Kong IPO price at the high end of the range, aiming to raise HK$1.1 billion.The International Atomic Energy Agency (IAEA) stated that repairs to the transmission line are not expected to be completed in the short term, but are still underway.Russian Defense Ministry: Russia shot down 660 drones overnight.International Atomic Energy Agency Director General Grossi: Iran has the option to reduce the concentration of nuclear materials or transport them out of the country, but it must agree to do so.

S&P 500 Price Forecasts – Market Bounces From Oversold Condition

Lorna Divakar

Sep 27, 2022 16:43

微信截图_20220927163906.png

Technical Analysis of the S&P 500

The S&P 500 originally declined during Monday's trading session, although at this point it is a little oversold and we are close to a significant support level. Having said that, I believe we are in a situation where a short-term relief rally will occur. A little bounce does make some sense. Having said that, I don't believe it's necessarily going to be something that can endure; I simply believe that things have out of hand.


The 50-Day EMA would come next, and the 3800 level above would most certainly be a strong hurdle.


Since the market has been declining for quite some time, a short covering recovery might eventually occur. However, if you look at the last several weeks, it has been very tough for buyers to gain any momentum. In the end, I do believe we could drop below the lows, though not necessarily immediately away. In the end, the 3600 level and perhaps the 3500 level make a lot of sense.


I believe that many investors are attempting to exit their short positions in order to benefit as it is clear from this chart that the slope of change was exaggerated. Although there is a negative correlation between the two markets, which should persist, I do believe that you will need to pay close attention to it because the interest rate market has been such a significant factor in where we are going.

Suggestion