Indices

HKG33 extends this week’s slide after today’s data showed an escalation in China’s deflationary pressures, on both the consumer and the producer sides

A week into November and the SPX500 is already up over 4% for the month. The index is currently near 4,360 but a close above 4,400 (green horizontal line) will be regarded as a bullish development.

The tech heavy index posted its best week in twenty months, boosted by the Fed’s dovish hold and the cool jobs report, overlooking Apple’s revenue slip

The UK index extended it gains on Thursday as the Bank of England held rates for second straight meeting, but eases today after hitting key technical levels

The tech heavy index rallied on Wednesday after the Fed kept rates unchanged and was more dovish than previously, but now awaits Apple’s earnings and the jobs report

The NAS100 weekly chart retains its downtrend.

HKG33 registered another losing month, dropping today after Chinese factory activity slipped back to contraction territory

The index closed last week in correction territory, as the quarterly results by tech giants were not enough to outweigh elevated yields, Fed risks and Middle East jitters, but rebounds today ahead of the Fed

The SPX500 has charted a series of lower peaks followed by lower troughs on its weekly chart. This puts the weekly into a defined downtrend. Importantly, the down trend’s trendline has shifted down from the green trendline to the orange trendline. This indicates that the downtrend is accelerating. It is not surprising to see the weekly RSI on the bearish side of 50 (green rectangle). The longer it maintains below…

Treasury yields are pulling back from their multi-year highs and the index finds some reprieve, turning now to earnings from tech giants like Meta and a series of high-impact economic releases

The index heads to a losing week due to elevated bond yields, Mr Powell’s speech where he kept the door open to more hikes and Tesla’s poor results that outweighed the strong report by Netflix