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Jinyong Investment (01328.HK) rose by more than 100%.Hong Kong stocks with tea beverage concepts continued to rise today, with Cha Baidao (02555.HK) rising more than 17%, Nayuki Tea (02150.HK) rising more than 8%, Gu Ming (01364.HK) rising more than 5%, and stocks such as Shanghai Ayi (02589.HK) and Mixue Group (02097.HK) following suit.Hilong Holdings (01623.HK) rose more than 80%.1. Westpac: The Reserve Bank of Australia is expected to cut interest rates in July, but it is not set in stone. The final rate is still expected to be 2.85%. 2. Goldman Sachs: The Reserve Bank of Australia is expected to cut interest rates in July and will continue to cut interest rates in August and November, with the terminal rate expected to be 3.1%. 3. State Street Global Advisors: The Reserve Bank of Australia is expected to cut interest rates in July in order to protect economic growth. At present, inflation is obviously no longer a concern. 4. Reuters poll: The Reserve Bank of Australia is expected to cut interest rates in July. 31 of 37 economists support the rate cut, and another 6 believe that the interest rate will remain unchanged. 5. Capital Economics: The Reserve Bank of Australia is expected to cut interest rates in July. Recent data still shows that the Australian economy is inclined to decline, and there are still sufficient reasons for an early rate cut. 6. UBS: The Reserve Bank of Australia is expected to cut interest rates in July due to weak economic activity and easing inflation. It will continue to cut interest rates in August to protect the economy. 7. ING: The Reserve Bank of Australia is expected to cut interest rates in July and the interest rate is expected to reach 3.1% by the end of the year. Australias overall and core inflation are expected to remain near the midpoint of the 2-3% range in the coming quarters. 8. Pepperstone: The Reserve Bank of Australia is expected to cut interest rates in July. As the second quarter CPI data has not yet been released, the Reserve Bank of Australia will not provide clear forward guidance in its statement on how long it will take to reach a neutral interest rate. US Department of Defense: Will send additional defensive weapons to Ukraine.

The S&P 500 Continues to Face Overhead Pressure for the Week

Cory Russell

Apr 24, 2022 10:16

S&P 500 Weekly Technical Analysis

During the week, the S&P 500 attempted to rebound, but ran into enough resistance near the 4500 level to turn things around and show symptoms of weakness. As a result, the market seems to be struggling, and we may be staring at the 4100 level in the near future.


Looking at this chart, it's clear that we have further downward to go, but I believe it's just a matter of time until we break down. The whole Thursday and Friday sessions were a nightmare, and they aren't showing any signs of slowing down. As a result, I anticipate the market will not only retest, but may potentially break below the previous low. 


If we do, I believe the downward acceleration would be rather severe. Keep in mind that Wall Street is just now coming to terms with the possibility that they were mistaken about the Federal Reserve. The Federal Reserve will have to tighten monetary policy forcefully, which will damage everything, including the stock market.


We could make a case for attempting to shift the general structure of the market if we turn around a break above the 4500 level, but right now things seem quite bad, and I believe it's just a matter of time until we see a huge move to the downside. It would be a really bullish move to flip around and knock out the top of the candlestick for this week.

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