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On April 18th, the International Air Transport Association (IATA) warned that the Middle East conflict could trigger aviation fuel rationing measures, with flight cancellations in Europe potentially starting as early as the end of May. IATA urged governments to develop coordinated and comprehensive response plans as soon as possible to mitigate the impact on flight operations. According to Lianhe Zaobao, IATA Director General Walsh stated on Friday (April 17th) that the International Energy Agencys earlier assessment that European aviation fuel shortages could begin within about six weeks should be taken very seriously. Walsh said, "Based on the current situation, Europe could begin canceling flights due to aviation fuel shortages as early as the end of May, and similar situations have already occurred in parts of Asia."On April 18, Iranian Deputy Foreign Minister Saeed Khatibzadeh stated that Iran will never accept a US blockade of its ports or any other "orders" issued by the US. "There will never be any blockades in the future," he said. "The era of colonialism must end," he added. The US "cannot dictate to other countries."The UK Maritime Trade Operations Office has received reports of an incident occurring 20 nautical miles northeast of Oman.April 18th - While Hong Kongs IPO market is booming, some companies seeking to list are submitting substandard or overly embellished listing documents. Liu Ying, Co-Head of Initial Public Offering Review at the Hong Kong Stock Exchanges Listing Division, stated in an interview that companies seeking to expedite the approval process must ensure their information disclosure is truthful, accurate, comprehensive, and concise. The Hong Kong Stock Exchange is currently reforming its listing mechanism, allowing applicants to submit materials confidentially, but simultaneously upgrading its penalty mechanisms. If the materials fail to meet standards, the names of the sponsor, law firm, accountants, and other professional teams will be publicly disclosed. She reminded the market that thorough preparation is the fastest path to listing.April 18 - According to the Iraqi National News Agency, the Iraqi Ministry of Oil stated that oil exports from all oil fields will resume in the coming days. Four energy sources said that after a disruption of more than a month due to shipping blockages in the Strait of Hormuz, Iraq resumed oil exports from the south on Friday, with one tanker already loading crude oil.

S&P 500 Price Forecasts – Stock Markets Bounce to Kickoff Week

Skylar Shaw

Oct 18, 2022 16:22


S&P 500 Technical Analysis

The S&P 500 rallied significantly during the trading session on Monday in the E-mini contract to show signs of life again. Remember, we are in the midst of earnings season so we may see a lot of volatility on top of all of the other concerns that have been around due to the global economy seemingly ready to fall apart. At this point, the biggest game in town is going to be deciding what the Federal Reserve is going to do, so pay close attention to any speech coming out of those people, but at this point the perception is that perhaps we are going to see some relief.


I would not hold my breath for this, and even though this is a nice bounce, when you look at the chart, you can see clearly that we are still very much in a downtrend, and I think that will continue to be the case going forward. The 50-Day EMA currently sits at the 3844 level and is dropping significantly to give us a potential soft ceiling.


This of course assumes that we can get anywhere near there, something that I don’t think you can necessarily count on. Ultimately, this is a market that will continue to be more of a “fade the rally” type of market as there’s no real reason to believe that suddenly risk appetite is going to shoot through the ceiling. Having said that, it’s also worth noting that the rallies occur in a bear market can be quite convincing and vicious. At this point, I’ll be looking for signs of exhaustion to start shorting yet again.

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