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March 11, Hong Kongs Hang Seng Index opened sharply lower on Tuesday, following the overnight decline in U.S. stocks. The Hang Seng Index opened 2.1% lower, the Hang Seng Technology Index opened 2.7% lower, and the Hang Seng heavyweight HSBC Holdings opened 3.1% lower in Hong Kong. U.S. stocks fell sharply on Monday, with the endless tariff debate and growing concerns about the possible shutdown of the federal government sparking concerns that the U.S. economy could fall into recession.The Hang Seng Index in Hong Kong opened at 23,274.86 points, down 508.63 points, or 2.14%, on March 11 (Tuesday); the Hang Seng Technology Index opened at 5,728.87 points, down 156.62 points, or 2.66%, on March 11 (Tuesday); the CSI 300 Index opened at 8,547.46 points, down 177.55 points, or 2.03%, on March 11 (Tuesday); and the H-share Index opened at 3,823.85 points, down 46.57 points, or 1.2%, on March 11 (Tuesday).March 11, as concerns about a U.S. recession grow, most safe-haven assets such as U.S. Treasuries and the Japanese yen are rising in early Asian trading. Tapas Strickland, head of market economics at National Australia Bank, said: "There are headlines of rising recession risks (from low levels). It is not surprising that U.S. Treasury yields are falling." The markets pricing for the Feds rate cut has increased. By the end of 2025, the markets pricing for the Feds rate cut is 81.6 basis points, compared with 70.7 basis points last Friday.USD/CNY reported 7.1741, up 8 points (RMB depreciation); EUR/CNY reported 7.8118, up 25 points; HKD/CNY reported 0.9236, up 5.5 points; GBP/CNY reported 9.2801, down 193 points; AUD/CNY reported 4.5294, down 87 points; CAD/CNY reported 5.0001, down 76 points; JPY/CNY reported 4.9195, up 348 points; RMB/RUB reported 12.0796, down 3507 points; NZD/CNY reported 4.1170, down 6 points; RMB/RMB reported 0.61429, up 13 points; CHF/CNY reported 8.1816, down 66 points; SGD/CNY reported 5.4030, down 83 points.Hang Seng Index futures opened 2% lower at 23,282 points, 490 points below the water level.

Stock Markets Continue to Put Up a Fight

Cory Russell

Jul 18, 2022 15:12

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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.