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EIA Natural Gas Report: As of the week ending October 10, total U.S. natural gas inventories were 372.1 billion cubic feet, an increase of 80 billion cubic feet from the previous week and 26 billion cubic feet from the same period last year, a year-on-year increase of 0.7%. At the same time, it was 154 billion cubic feet higher than the five-year average, an increase of 4.3%.The EIA natural gas inventory in the United States for the week ending October 10 was 80 billion cubic feet, which was in line with expectations of 81 billion cubic feet and the previous value of 80 billion cubic feet.New York silver futures hit $53 an ounce, up 3.16% on the day.Russian Deputy Prime Minister Novak: OPEC+ cooperation will help balance global supply and demand.On October 16, ECB board member Wunsch said that the ECB has done almost perfect in dealing with this "once-in-a-century" inflation shock. Wunsch pointed out that although he had hoped that the ECB would start the tightening cycle earlier after the inflation surge in 2022, overall he was satisfied with the subsequent decision. "I was one of those who thought we should act earlier, but then we did catch up. I would say that we have done almost perfect since then." He reiterated his previous view that there are no obvious upside or downside risks to inflation at present. "If you have to choose between upside or downside risks, I would say that the risk is slightly biased to the downside, which is mainly affected by the appreciation of the euro and the economic trend. But overall, we are in a good position."

S&P 500 Attempts to Stabilize

Skylar Shaw

Jun 21, 2022 14:25

Technical Analysis of the S&P 500

The S&P 500 originally fell during Monday's trading session, but subsequently rallied to reclaim the 3700 level in the futures market. The market may be slightly oversold at this moment, but I believe any rise at this point will be viewed as a shorting opportunity at the first signs of weariness. Rallies are still being viewed with distrust by the market, as they should be. The Federal Reserve will do everything it can to tighten monetary policy, and as a result, prices are expected to fall much more.


The 50-day exponential moving average (EMA) is slightly below 4100 and is declining from there. At this time, it appears that it will swiftly approach the 4000 level, which is the enormous, round, psychologically significant number that many traders are watching. However, given the Federal Reserve's current monetary policy tightening, we're going to see a lot more downward pressure.


Furthermore, profit projections must be written down, something the majority of companies have yet to accomplish.


Finally, we are a little oversold, but that oversold position should provide a wonderful selling opportunity above, so I believe symptoms of fatigue are what you should look for following short-term gains. It's also worth paying close attention to the US dollar, as it will have a significant impact on where we go next, and so I believe the US Dollar Index is probably worth paying close attention to.


Finally, I feel that volatility will continue to be a factor that you should be aware of.

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