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Market News: The subscription multiple for Japans five-year government bond auction hit a new low since June 2022.On March 10, Tokyo Electric Power Company said that smoke appeared in the emergency diesel generator control room in the No. 6 unit building of the Kashiwazaki-Kariwa Nuclear Power Plant in Niigata Prefecture at around 10 a.m. that day, and the company immediately called the fire department. The smoke has now dissipated. TEPCO said that there was no impact of radiation leakage in this incident.On March 10, it was reported that Apples foldable screen mobile phone will be equipped with two silicon-carbon negative electrode batteries. The battery cells use 3D stacking technology and have a capacity of 5000mAh or more. The supplier of this battery is CATL (exclusive supply), which is affiliated to New Energy (Hong Kong) Technology Co., Ltd. (ATL), a subsidiary of Japan TDK Holdings.The Hang Seng Tech Index widened its losses to 2% in the morning, and the Hang Seng Index is now down 1.49%.On March 10, Energy Singularity made a major breakthrough in the field of high-temperature superconducting magnets. The companys independently developed large-aperture high-field magnet, the Jingtian magnet, successfully completed the first round of flow experiments, generating a magnetic field of up to 21.7 Tesla, setting a record for the highest magnetic field of large-aperture high-temperature superconducting D-shaped magnets. This field strength exceeds the record of 20.1 Tesla set by the SPARC TFMC magnet jointly developed by MIT and CFS in 2021. The magnet can be used to develop and verify the key technologies and manufacturing processes of the toroidal field (TF) magnets required for Energy Singularitys next-generation tokamak device Honghuang 170 with 10 times the energy gain performance.

S&P 500 & Nasdaq 100 Stumbling on The Edge of a Cliff

Skylar Shaw

May 09, 2022 10:53


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The monthly US Jobs Report (NFP) will be announced at 12:30 UK today, with the market expecting 391k new jobs in April, down from 431k in March. The unemployment rate is expected to fall to 3.5 percent, while average hourly earnings are expected to stay constant at 0.4 percent month over month. The US employment market is strong, and unless today's news disappoints, traders will continue to price in higher US interest rates, keeping the US dollar bought. Both John Williams and Raphael Bostic of the Federal Reserve will talk later today, and they may provide some further insight on the FOMC decision on Wednesday.

 

The 500 chart demonstrates how technical analysis may be useful even in turbulent times. The bullish hammer candle we saw on Monday led to a big comeback until yesterday's sell-off, while the resistance zone we saw around 4,300–4,310 maintained on Wednesday and Thursday. If 4,060 holds, the S&P 500 will have a chance to rebound in the near term; otherwise, 4,035 will come into play quite rapidly. Any efforts to go higher should be met with resistance in the 4,300–4,310 range. Volatility is still at an all-time high.

 

According to retail trader statistics, 68.09 percent of traders are net-long, with a long-to-short ratio of 2.13 to 1. The number of traders who are net-long is up 18.01 percent from yesterday and up 16.33 percent from last week, while those who are net-short is down 26.33 percent from yesterday and 14.60 percent from last week.


We usually take the other side of popular mood, and the fact that traders are net-long signals that the US 500 will continue to decline. Traders are more net-long today than they were yesterday and last week, and the combination of current mood and previous movements gives us a greater contrarian trading bias in the US 500.

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