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S&P 500 Rallies As U.S. Dollar Pulls Back Towards Weekly Lows

Key Insights
The strong pullback in the U.S. dollar provided significant support to stocks.
Treasury yields have pulled back after touching new highs, which served as an additional positive catalyst for S&P 500.
A move above 3730 will push S&P 500 towards the resistance level at 3760.
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Pfizer Rallies After Announcing A Huge Price Hike For Its COVID-19 Vaccines
S&P 500 is currently trying to settle above 3730 as traders’ appetite for risk is growing. The U.S. dollar has recently gained strong downside momentum as the BoJ intervened to stop the rally in USD/JPY. Weaker U.S. dollar is bullish for stocks as it increases profits of multinational companies and makes U.S. equities cheaper for foreign investors.

The leading oil services company Schlumberger is up by 9% after beating analyst estimates on both earnings and revenue. Schlumberger’s peers Baker Hughes and Halliburton have also enjoyed strong support today.

Vaccine makers Pfizer and Moderna gained strong upside momentum after Pfizer announced that it will raise the price of its coronavirus vaccine to $110 – $130 per shot.

Biggest losers today include Verizon and Twitter. Verizon is down by 5% despite beating analyst estimates on both earnings and revenue. Subscriber numbers missed estimates, and traders pushed the stock to multi-year lows.

Twitter stock moved towards the $50 level as the U.S. may conduct a security review of Musk’s purchase of the company.

From a big picture point of view, today’s rebound is broad, and most market segments are moving higher. Treasury yields have started to move lower after testing new highs, providing additional support to S&P 500. It looks that some traders are ready to bet that Fed will be less hawkish than previously expected.

S&P 500 Tests Resistance At 3730

S&P 500 has recently managed to get above the 20 EMA and is trying to settle above the resistance at 3730. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

If S&P 500 manages to settle above 3730, it will head towards the next resistance level at 3760. A successful test of this level will push S&P 500 towards the next resistance at October highs at 3805. The 50 EMA is located in the nearby, so S&P 500 will likely face strong resistance above the 3800 level.

On the support side, the previous resistance at 3700 will likely serve as the first support level for S&P 500. In case S&P 500 declines below this level, it will move towards the next support level at 3675. A move below 3675 will push S&P 500 towards the support at 3640.

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Our Favorite MMA Clothing Brands

MMA has exploded worldwide! It’s on television all the time, athletes have become popular household names, and events are selling out stadiums within minutes. And, small MMA clothing companies have become huge international businesses. With the growth of the sport and the expansion of these companies, comes the evolution of MMA clothing. A simple logo slapped on the front of a t-shirt is no longer the main staple of these brands. Companies are actually designing incredible clothing that’s great to wear throughout the day, as well as a night on the town.But which MMA clothing brands are the best? And which are the cheapest MMA clothing brands? With so many options to choose from, it can be hard to separate the good from the bad. Here’s a list of our favorite MMA clothing brands, based on their style, quality and price.Bad Boy MMABad Boy has been a presence in the MMA world for some time now, and sponsors some of the world’s biggest MMA competitors. Their quality is second to none, for everything from their Jiujitsu Gi’s and MMA fight shorts to everyday t-shirts. Designs range from the simple, but easily recognizable, Bad Boy eyes logo to more intricate looks. Bad Boy’s MMA t-shirts average price is around $30, which is quite reasonable given the quality of their product.Hayabusa FightwearSlightly higher in price, but also higher on the style scale is Hayabusa Fightwear. Their clothing line doesn’t have the widest selection of products, but the items they design and produce are all quite detailed and intricate in their look. Not only do they produce great everyday MMA wear, but they also create quality MMA equipment at great prices. And, they have created what are probably the best MMA gloves available, in terms of fit, durability and quality.TapOut ClothingProbably the most recognizable MMA clothing brand is TapOut. It’s hard to go an entire day without seeing someone walking down the street wearing a TapOut shirt! The TapOut brand has grown tremendously over the last few years, but despite their growth, their popularity remains in their MMA t-shirts, although they do offer a line of MMA fight shorts, as well as other products. TapOut also remains one of the cheapest MMA clothing brands on the market, which is another reason why we love them!

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Gold As a Reserve Asset and the Online Finance Service To Manage It

In many areas of everyday living, gold performs vital functions. Gold is actually a quality, high tech metal and very well demanded by the industry. Therefore, investors are content with the decision to pursue the best investment opportunity.Even as gold is no longer the backbone for the brick and mortar international financial system, most banks still find it to be an important asset. More importantly, gold is the only reserved asset that is not held liable due to its face value. Meaning it is not held responsible or accountable for the trend of economic policies or disturbed inflation. It continues to retain value over many centuries.As it appears, the current level of demand for gold outweighs the gold supply for the gold miner to produce. Throughout history, due to its beauty, warmth and spiritual connotation, it is now the most admired metal. The gold miner continues to produce gold at massive levels. The exported revenue is vital as it brings royalty and investment opportunity for low economic countries.Gold can be repudiated and held as a safeguard against potential crisis because it is not any individual’s liability. More so, the gold bullion does not vulnerable to the political issue compare to major asset classes such as United States government bonds, or Treasury bills. Gold as a valuable investment is also excluded from the disadvantages of the economical and/or monetary polices of any government. Significantly, gold has developed into a revolutionary digital or electronic currency, or what we normally heard of as e-currency all over the world.If you are keen to invest in gold, then the problem of purchasing, holding or keeping the physical gold can be your major drawback as it will cause you too much hassle, not only for you but also everybody else. Alternatively, you can purchase digital gold via online and keep it in the reliable and trustworthy internet payment processor system. This way, no storage space is needed and no worry.