December 29, 2022

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

BOJ Defends Yield Curve

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, but with a higher propensity to go up.
• There is optimism in the stock market on Bank of Japan (BOJ) defending the yield curve.
  • The consensus has been that BOJ is in the process of relaxing yield curve control.