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December 31st, Futures.com analysts latest view: Brent crude oil futures prices tended to consolidate in the recent intraday trading session. Although the Relative Strength Index (RSI) showed a negative signal, and the oversold condition appeared excessive compared to price action, suggesting that bearish momentum is rapidly weakening. Meanwhile, positive support remains in place as prices continue to trade above the 50-day exponential moving average (EMA50). The trendline-following pattern remains unchanged, dominated by a short-term bullish corrective wave.December 31st, Futures.com analysts latest view: WTI crude oil futures fell in recent intraday trading after the Relative Strength Index (RSI) showed a negative signal after reaching overbought territory. This pullback aims to accumulate momentum and digest previous gains. This decline occurred against the backdrop of continued dynamic support, specifically as prices remain above the 50-day exponential moving average (EMA50), which reinforces the stability and dominance of the short-term bullish corrective trend. In particular, the current price action continues along the support trendline, meaning the possibility of a price recovery in the near future remains.December 31st, Futures.com analysts latest view: International spot gold rose in recent intraday trading, gaining bullish momentum by stabilizing at the key support level of $4350, thus achieving the current cautious gains. However, as the price is still trading below the 50-day exponential moving average (EMA50), the resulting negative pressure limits the possibility of a strong rebound in the short term, and the market is currently still dominated by a bearish corrective wave. Accompanying this cautious rise, the Relative Strength Index (RSI) has shown a negative signal after escaping oversold territory, indicating that the bearish trend may return. This means that any current rise may only be a temporary correction, after which gold may face selling pressure again.December 31st - Overnight, all three major US stock indices weakened again, while the China Golden Dragon Index rose and then fell back. Hong Kong stocks closed today for the final trading day of 2025, with only half a day of trading. The Hang Seng Index opened 53 points lower at 25801, and the market immediately fell, with the decline widening to as much as 300 points, reaching a low of 25554, again breaking below the 20-day moving average. At the close, the Hang Seng Index fell 0.87%, the Tech Index fell 1.12%, and the total turnover of the Hang Seng Index was HK$118.97 billion. On the sector front, semiconductor stocks rose for the third consecutive day, while film, aviation, non-ferrous metals, and heavy machinery stocks continued yesterdays gains, and application software stocks strengthened; pharmaceutical distribution and biopharmaceutical stocks weakened again, while game software, online education, and non-alcoholic beverage stocks fluctuated and retreated. In terms of individual stocks, Innovent Biologics (01801.HK) and NetEase (09999.HK) fell by more than 3%, while Trip.com (09961.HK), New Oriental (09901.HK), Leapmotor (09863.HK), and BYD (01211.HK) all fell by more than 2%; Baidu (09888.HK) and Sunny Optical Technology (02382.HK) rose by more than 1%.On December 31, the Ministry of Commerce issued an announcement requiring all regions to scientifically formulate plans for the use and disbursement of subsidy funds, ensuring balanced monthly allocation and smooth transitions between weekly periods within the month and across months and quarters. At the provincial level, overall coordination should be strengthened, with unified and clear requirements for application materials, application methods, processing procedures, and review processes for specific matters such as applications from business entities to participate in subsidy policies and fund disbursement. While ensuring risk control, local conditions may be considered, and methods such as advance payments and rolling disbursements can be adopted to simplify the fund review process, accelerate disbursement, reduce the financial burden on participating business entities, and ensure that all eligible subsidy funds are disbursed promptly and in full.

S&P 500 (SPY) Remains Mixed In Choppy Trading

Cory Russell

Sep 20, 2022 14:37

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Healthcare Stocks Drop Following Biden's Remarks It's a Pandemic

The S&P 500 is trying to close below 3850 as Treasury rates continue to rise in advance of the Fed Interest Rate Decision. The yield on 2-year Treasuries is attempting to settle above the 3.95% mark as traders brace themselves for an aggressive Fed.


It should be emphasized that the retreat today is not significant. The worst-performing equities today are in the healthcare sector after U.S. President Joe Biden declared the epidemic to be finished. In today's trade, Moderna's shares fell by roughly 10% while Pfizer lost 2%.


Large-cap tech stocks perform inconsistently. While Microsoft is reaching new lows, Apple is recovering from the most recent setback.


Along with the oil markets, energy equities recovered from their session lows. Leading oil companies Exxon Mobil and Chevron, however, have not been able to return to the positive zone.


Trading will probably continue to be tense before the Fed announcement. The big issue is whether Fed Chair Jerome Powell gives a hawkish signal since markets have already factored in a 75 basis point rate increase.


Traders are now concerned that abrupt rate increases could cause the economy to enter a true recession, which will result in job losses and lower corporate earnings. Given this, the market will react quite strongly to Powell's remarks.

Support Remains Solid at 3850

S&P 500 dropped below 3885 and is now testing support at 3850. Since the RSI is still in the positive range, there is still plenty of space for more downward momentum to develop should the proper triggers materialize.


The S&P 500 will go toward the next support level at 3825 if it manages to settle below 3850. The next support at 3800 will be tested if this level is successfully tested.


The S&P 500's closest upward resistance level is found at 3885. The S&P 500 will go toward the next barrier at 3900 if it rises again above this level. The S&P 500 will be pushed toward the barrier of 3920 if it moves over 3900.

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