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January 14th - Gold and silver continued to hit record highs during Asian trading hours due to escalating geopolitical risks. President Trumps statement on Tuesday that aid was imminent to Iranian protesters foreshadowed potential US action against the regime. Two foreign exchange strategists from OCBC Group Research noted in a report that the dramatic developments in Iran highlight the continued geopolitical uncertainty, while the fundamental support for precious metals remains solid.HRANA, a US-based human rights organization, reports that the confirmed death toll from the protests in Iran has risen to 2,571.January 14th - Demand for Japans five-year government bond auction on Wednesday was weaker than the 12-month average, with increasing political risks impacting investor willingness to subscribe. The bid-to-cover ratio for this auction was 3.08, lower than the 3.17 of the previous auction in December and also lower than the 12-month average of 3.54. This auction comes amid a wave of bond selling triggered by Prime Minister Sanae Takaichis consideration of a snap election. This market behavior, known as the "Takaichi trade," which previously caused a sharp drop in the yen, has resurfaced. The yield on five-year government bonds has risen to 1.615%, a new high since the maturity was introduced in 2000. Most economists expect the Bank of Japan to wait until June to raise interest rates. However, the continued weakening of the yen may increase pressure on the central bank to act sooner. Former Bank of Japan policy board member Makoto Sakurai believes the central bank may raise rates as early as April. The market is currently fully pricing in the first rate hike this year in July; if the yens weakness continues, there is room for further repricing in the market.The yield on 30-year Japanese government bonds rose 3.5 basis points to 3.515%.January 14th, Futures News: Economies.com analysts latest view: WTI crude oil futures prices retreated slightly during the previous trading day, mainly due to the key resistance level of $61.00. This resistance level was the target we anticipated in our previous analysis, and the stability at this level prompted the market to enter a natural profit-taking phase after the previous rise.

S&P 500 (SPY) Rebounds After Testing New Lows

Cory Russell

Oct 12, 2022 15:31

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As Treasury Yields decline, the S&P 500 increases

As traders hurried to purchase equities after the sharp decline, the S&P 500 resumed upward momentum after touching new lows at 3570.


Stocks received extra support when the yield on 10-year Treasuries dropped below 3.90% and failed to settle above that mark.


Despite the widespread recovery, it is important to highlight that semiconductor stock prices are still in decline. As traders respond to the current export limitations placed on China, shares of Qualcomm, Qorvo, ON Semiconductor, and other companies in this market category are heading down.


In spite of today's wide stock market recovery, Meta and NVIDIA were able to escape their annual lows while testing new lows.


Looking at the larger picture, today's bounce seems technical. In just four trading sessions, the S&P 500 went from the 3800 level to 3575, so it's not unexpected to find that some traders were prepared to purchase equities at a significant discount to recent levels.


Earnings season will soon put the market to the test. At the end of this week, major banks including JP Morgan Chase, Wells Fargo, Citigroup, and Morgan Stanley will report their earnings, and the market's attitude will be greatly impacted by their statements. Ahead of these crucial news, trading may remain volatile.

S&P 500 Examines 3640 as Resistance

The S&P 500 managed to regain control above 3615 and is now attempting to hold above the next resistance level at 3640. If successful, it will go in the direction of the resistance at 3675. The S&P 500 will be pushed toward the 3700 level if a move is made over the 3675 level of resistance.


The S&P 500's closest support level is at 3615 on the support side. The next support level, at 3585, will be reached if the S&P 500 drops below this level. If the support at 3585 is successfully tested, the S&P 500 will move closer to the next support level at 3560.

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