FEARS OF BEIJING LOCKDOWN SEND COMMODITIES PLUNGING AND BONDS HIGHER
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Beijing Lockdown
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The chart shows that the market is at the lower band of the support zone.
- On Sunday night, stock futures attempted a rally, but the rally was sold on fears of a Beijing lockdown.
- Earlier this morning, the market was below the lower band of the support zone, but the momo crowd’s aggressive buying has brought it back to the lower band as of this writing.
April 25, 2022