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On May 9th, the Ukrainian presidential website published a presidential decree signed by Zelensky late on the 8th, stating that based on the humanitarian principles clarified during talks with the United States on the 8th, the military parade to be held on May 9th in Moscows Red Square would not be a target of attack by Ukraine. The decree took effect immediately upon signing on the 8th.According to the U.S. Commodity Futures Trading Commission (CFTC), in the week ending May 5, crude oil speculators reduced their net long positions in WTI crude oil by 2,220 contracts to 106,278 contracts.According to the U.S. Commodity Futures Trading Commission (CFTC), as of the week ending May 5, COMEX gold speculators net long positions increased by 4,090 contracts to 95,664 contracts.On May 9th, Chicago Federal Reserve President Goolsby stated that all interest rate options are currently under consideration, not just rate cuts. At the end of April, the Fed kept interest rates unchanged, with three officials objecting to wording in the statement that hinted at a possible rate cut, arguing that the possibility of a rate hike should be preserved. Goolsbys remarks reflect a shift in Fed policymakers—no longer considering near-term rate cuts, primarily due to the energy price shock triggered by the Iran war pushing up inflation. He reiterated that both rate cuts and hikes are under consideration and expressed concern about inflation, believing that price pressures exist in addition to the energy shock.Hang Seng Index futures closed down 0.06% at 26,250 points in overnight trading, a discount of 144 points.

S&P 500 Price Forecast – Stock Markets Pull Back

Alice Wang

Oct 20, 2022 15:47

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Technical Analysis of the S&P 500

The S&P 500 has retreated slightly during Wednesday's trading session to display hints of weakness once again. Remember that the stock markets are now experiencing earnings season, which will undoubtedly have a significant impact on what occurs. Furthermore, it is highly possible that this will continue to be extremely loud because people are concerned about the Federal Reserve and what they will do. As we attempt to determine whether or not the 3600 level will continue to serve as support, I believe that we are now more or less in a consolidation period.


Having said that, I believe that any rise at this stage will almost certainly be seen as a possible buying opportunity with occasional hints of tiredness. Additionally, you must pay close attention to what the Federal Reserve is doing, and as of now, it seems as if it will continue to tighten monetary policy. I simply don't see a situation where I would be prepared to purchase because of this. Having said that, keeping in mind that some of the most ferocious rallies occur during bear markets, so you may sometimes witness a pop.


I will become a selling at the first indications of tiredness since I do think this market has further room to fall. The only thing I feel safe doing, at least for the time being, is fading rallies due to the 50-Day EMA sitting just above and posing considerable psychological barrier as well. Things might get intriguing as soon as the Federal Reserve modifies its monetary policy.

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