In today’s briefing:
- HSCEI Index Rebalance Preview: Could Be A BIG One
- MVIS Global Rare Earth/Strategic Metals Index Rebalance Preview: Couple of Potential Deletes
- S&P 500 Testing 3900 Support; Commodities, WTI Crude Oil Topping?; Buying Uranium, Ag Equipment
HSCEI Index Rebalance Preview: Could Be A BIG One
- There could be up to 6 changes to the Hang Seng China Enterprises Index (HSCEI INDEX) at the December rebalance, mainly driven by the deletions.
- If there are six changes to the index, estimated one-way turnover is 6.47% and will result in a one-way trade of HK$4,124m.
- There is large short interest on quite a lot of stocks and will play an important role in the rebalance.
MVIS Global Rare Earth/Strategic Metals Index Rebalance Preview: Couple of Potential Deletes
- Sierra Rutile Holdings (SRX AU) is a high probability delete from the index, while Australian Strategic Materials (ASM AU) is close to the deletion threshold.
- Sayona Mining (SYA AU) is the highest ranked non-constituent while Tianqi Lithium (9696 HK) only makes inclusion at the entire IPO raise.
- Deletion from the index will require passive trackers to sell over 5 days of ADV on Australian Strategic Materials (ASM AU).
S&P 500 Testing 3900 Support; Commodities, WTI Crude Oil Topping?; Buying Uranium, Ag Equipment
- Key supports are currently being tested at 3900-3910 on the S&P 500, $293 on the Nasdaq 100 (QQQ), and $177-178 on the Russell 2000 (IWM).
- We see a bounce as possible at these levels, but breaks below these levels would virtually guarantee a test of the YTD lows — or worse.
- WTI crude oil is breaking below the critical $85 support level, confirming a major top in place. The Bloomberg commodity index needs to break $32.50 to confirm a major top.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
