2022/08/22 (060) Technical Analysis

DOW Futures Dropped Below 33.500 Points This Morning !!!
The Intraday Price Action Looks Like A Bad Bloodbath
& The Chart Look Bearish Again In the Near Tearm.

The renewed fears of inflation and growth continued to have a firm grip on the US stock markets at the beginning of the week. Things went downhill again today ahead of the international central bankers’ meeting in Jackson Hole, Wyoming, which begins on Thursday. And that, unfortunately, also in our DOW Future. The DOW Future broked through the 33,500 point mark around 07:00 CET (central european time) this morning.

Tthe leading us stock market, on wallstreet, the Dow Jones Industrial Average, expanded its weak in the first two hours of trading and recently even lost 1.89 percent to up to 33,069.00 points. The other indices fared similarly: The market-wide S&P 500 fell by 2.09 percent to until 4140.10 points. While the technology-heavy Nasdaq 100 even lost ugly bloodly 2.53 percent to 12,907.53 points. And this all not until midday 1200 new york time.

The Most Important Higher-Level Prizes

36832 01/05/2022 (a) previous all-time high

35752 02/22/2022 (b) 1st interim high after all-time high
35413 04/21/2022 1st interim new high above 200SMA after 3rd low above
35281 03/29/2022 (c) 2nd interim high after all-time high

33500 07/11/2022 TARGET PRICE & NEW STOP PRICE

33928 12/01/2021 (1) last low under 200SMA before all-time high
33434 05/31/2022 false break-out after reversal before lowest price

33187 08/22/2022 MARKET PRICE @ 17:22 CET (central european time)

33031 01/24/2022 (2) 1st interim low after all-time high
32167 02/24/2022 (3) 2nd interim high after all-time high

31867 06/28/2022 1st interim new high after lowest price
31490 07/08/2022 2nd interim high after lowest price
31148 05/12/2022 1st another interim new low after (abc) (123) reversal

31140 07/11/2022 ENTRY PRICE

30585 05/20/2022 2nd another interim new low after (abc) (123) reversal

30000 07/11/2022 STOP PRICE

29639 06/17/2022 lowest price so far after all-time high

The US WallStreet seems to be speculating that the US Federal Reserve will continue to tighten tightly in order to get high inflation under control. The appearance of the US Federal Reserve Chairman in Jackson Hole is awaited with particular excitement. Analyst Craig Erlam of broker Oanda believes, “Jerome Powell will reiterate what he and his colleagues have been saying publicly of late without giving too much away before the September Fed meeting.”

On Monday, the US stock exchanges focused on a possible billion-dollar takeover in the healthcare industry. The Wall Street Journal reported that the world’s largest online retailer Amazon, health insurer Unitedhealth and infusion provider Option Care Health are planningbids with pharmaceutical retailer CVS Health for home health care provider Signify Health. Its shares then shot up by a third. Of the shares of the four alleged takeover candidates, Amazon fell the most in the weak tech environment at a good three and a half percent, while Option Care Health gained over half a percent. In contrast, shares in US cinema operator AMC Entertainment fell by a further 39 percent in view of the possible bankruptcy of Cineworld. The impending insolvency of the British competitor has weighed heavily on both stocks for several days. This Monday, the new AMC preferred shares were also traded for the first time on the New York Stock Exchange (NYSE) under the ticker symbol “APE” – after prices of up to $10.50, they were last listed at only $6.42. The papers should have the same voting rights as the old share certificates. One expert commented that the issue of the new shares was something between a stock split and a dividend.

European Stocks Suffer Worst Day In Over a Month

European stocks posted their worst daily performance in over a month today, with the regional STOXX 600 and the domestic DAX 40 index down 1% and 2.4%, respectively, as hawkish remarks from several ECB policymakers and a deepening energy crisis in Europe rattled sentiment. Bundesbank President Joachim Nagel was the latest ECB member to echo that the central bank must continue hiking interest rates even as recession risks in the region mount. On top of that, renewed natural gas supply fears sent futures linked to TTF, Europe’s wholesale gas price, to new record levels, further fuelling inflation and darkening the growth outlook. Meanwhile, flash PMI figures due tomorrow will provide an update on the European private sector activity this month, and minutes from the last ECB meeting will also be in the spotlight.

Russian Stocks At Near 2-Month High

The ruble based MOEX Russia Index rose 1.5% to close at a near two-month high of 2,228 on Monday, with strong support from the heavyweight energy sector. State-backed natural gas giant Gazprom jumped more than 2%, benefitting from record-high natural gas prices for delivery in Europe after it announced that the Nord Stream 1 pipeline will shut down for three days in the end of the month for maintenance, adding that the period of halted flows could extend if a problem is encountered. Novatek tracked the jump in prices to surge over 6%. Oil stocks also closed sharply in the green, led by Tatneft and Lukoil, despite the retreat in crude prices. Recent data showed thatweekly crude exports to Europe were at their highest since April of this year, despite the upcoming embargo on Russian oil in December.