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On December 14th, local time, Ukrainian President Volodymyr Zelenskyy stated that Ukraine is preparing for meetings with the United States and European allies in the coming days. He will travel to Berlin to meet with US and European representatives to discuss "building the foundations of peace." Zelenskyy stated that this series of consultations is "decisive" for Ukraine, and that Ukraines core objective is "to achieve a decent and just peace." Earlier that day, Germany announced that it would host a US and Ukrainian delegation on the 14th to hold talks on issues such as the Russia-Ukraine ceasefire and to prepare for the summit of European leaders, including Zelenskyy, to be held in Berlin on the 15th. According to previous reports, US Presidential Envoy Witkov and former White House senior advisor Jared Kushner have already departed for Germany to meet with Zelenskyy and other European leaders.On December 14th, Hungarian Prime Minister Viktor Orbán stated on the 13th that if the EU were to utilize frozen Russian assets, it would trigger serious problems. Orbán explained that, firstly, such a move would erode public trust in European trustees; secondly, the Russian central bank has filed a lawsuit against the European Clearing Bank (ECB), which holds a large amount of frozen Russian assets, potentially putting the ECB under pressure to repay its debts. Furthermore, given the enormous sums involved, the economy of Belgium, where the ECB is located, could face collapse.The Ukrainian POW Reconciliation Center reports that Belarus has transferred 114 civilians to Ukraine, including Ukrainian and Belarusian citizens.The U.S. Embassy in Lithuania reported that nine prisoners, including Nobel laureate Ales Bialyatsky, have been transferred from Belarus to Vilnius, the capital of Lithuania. Other prisoners are being transferred from Belarus to Ukraine.On December 13, the U.S. Embassy in Vilnius (the capital of the Republic of Lithuania) announced that Belarus had released 123 prisoners following a meeting between U.S. Special Envoy Cole and Belarusian President Lukashenko, including Nobel Peace Prize laureate Ales Bialyatsky. The released prisoners, who were transferred to Lithuania, included Belarusian citizens, U.S. citizens, and citizens of other countries. The U.S. will continue diplomatic efforts to release the remaining political prisoners in Belarus. The embassy stated that the U.S. is prepared to engage with Belarus in a manner consistent with U.S. interests.

S&P 500 Price Forecast – 3700 Continues to Hold as Support

Skylar Shaw

Jun 23, 2022 14:55

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After initially tumbling into the 3700 support level throughout the trading day, the S&P 500 has made a big rebound. 

S&P 500 Technical Analysis

After first dropping below the 3700 level during the trading session on Wednesday, the S&P 500 has seen a wild journey. Since the 3700 level has been significant for a few weeks, it is probable that sellers will now make it their goal. 3600 and 3500 are the next targets if we can drop below the most recent low. What we are currently witnessing is a small-scale bear market rebound, which does make some sense given the extreme selling pressure that we had previously witnessed.


If we do move higher from here, 4000 should be a resistance level that will be difficult to surpass unless there is a fundamental shift in the news. In the end, I believe we have a position where breaking down makes more sense, but we could be in for a setup where we "fade the rallies." Since there is nothing positive in the economic pipeline right now and many earnings predictions will need to be revised at this point, I do not enjoy investing in the stock market right now. A brief recovery rally does, however, make a lot of sense because markets do not continuously decline.


I see this as a chance to go short once more, but if we were to breach the 4200 level, you would need to be persuaded that the true brand has changed. I'm not currently concerned about the move because it costs 400 points. In the end, a recession is inevitable, and the market is now beginning to reflect that.

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