NEWS FROM CHINA BRINGS IN STOCK BUYERS BUT SOME INVESTORS USING STRENGTH TO SELL
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
News From China
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 stock market is consolidating in the support/resistance zone.
- RSI on the chart shows that the stock market can go either way.
- There was aggressive buying in stock futures yesterday evening and early this morning on the news from China. China is scrapping quarantine requirements for incoming travelers.
- Stocks in Shanghai were up 1% overnight.
December 27, 2022