December 27, 2022

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.