EUR/USD 1.13334
-0.489%
Gold 3325.21
-0.699%
Oil 63.075
0.773%
USD/JPY 143.630
0.694%
GBP/USD 1.32885
-0.392%
GBP/JPY 190.861
0.343%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
One person was killed and eight were injured in a Russian attack in Ukraines Dnipropetrovsk region, the local governor said.On April 25, Morgan Stanley published a research report stating that Chow Tai Fooks same-store sales decline narrowed in the last fiscal quarter, in line with expectations. The groups improved operating quality, better product mix, increased store productivity, and expanded profit margins offset the drag of increased store closures. The bank reiterated the groups "overweight" rating with a target price of HK$10.5. Morgan Stanley mentioned that Chow Tai Fook expects its revenue in fiscal 2025 to be in line with its guidance, while gross profit margin and operating profit margin will exceed guidance. The bank believes that the group continues to focus on its strategy of operating quality, and the number of net store closures may decrease in fiscal 2026. The bank expects the groups earnings per share to grow at a compound annual growth rate of approximately 20% from fiscal 2025 to 2027.On April 25, Intel CEO issued an internal letter to all employees. It mentioned that while fully focusing on engineering innovation, the complexity of the organizational structure will also be reduced. The executive team is required to review their respective organizational structures, with a focus on reducing levels, expanding management scope, and empowering high-performance talents. In addition, Intel will update its office policy, requiring all employees to be on duty four days a week starting September 1.According to the Financial Times: Apple (AAPL.O) plans to move the assembly of all iPhones sold in the United States to India as early as next year.New York gold futures hit $3,350 an ounce, up 0.04% on the day.

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.

Suggestion