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On September 19th, the Shaanxi Provincial Bureau of Statistics released its report on the provinces economic performance in the first eight months of the year: industrial production steadily rebounded, consumer demand continued to be released, and the economy showed a steady and positive development trend. According to relevant personnel from the Provincial Bureau of Statistics, in the first eight months, the added value of industries above designated size increased by 4.6% year-on-year, an acceleration of 0.5 percentage points compared to the first seven months. Industrial production steadily rebounded, and product output grew steadily. Looking at the three major sectors, the added value of mining increased by 7.7% year-on-year, manufacturing by 1.5%, and the added value of electricity, heat, gas and water production and supply by 2.5%. Key industries performed well, with the added value of coal mining and washing increasing by 9.0% year-on-year and the added value of oil and gas extraction increasing by 9.7%. Product output grew steadily, with raw coal output increasing by 3.8% year-on-year and natural gas output increasing by 7.3%.September 19th - According to Shenzhen Railway authorities, the railway transportation period for this years Mid-Autumn Festival and National Day holidays will run from September 23rd to October 8th, lasting 16 days. Shenzhen Railway expects to transport 5.7312 million passengers, averaging 358,200 passengers per day, an increase of 21,500 passengers per day compared to last year, representing a 6.39% increase and setting a new record for the same period. Among them, Shenzhen North Station is expected to transport 3.856 million passengers, averaging 241,000 passengers per day, an increase of 10,400 passengers per day compared to last year, representing a 4.3% increase.On September 19th, French President Emmanuel Macron stated on September 18th that France will push the EU to take action to address energy issues. He also believes that the US and Iran are unlikely to reach an agreement on the Strait of Hormuz in the short term. Macron stated that the sharp rise in fuel prices in recent weeks has created difficult circumstances for French citizens and families. Fuel prices at French gas stations have reached historic highs, causing considerable hardship and exacerbating purchasing power issues. Natural gas prices and the overall energy situation are also worrying, and these circumstances are entirely due to the war and the international situation. Macron said that France hopes to take action at the EU level and will communicate with the President of the European Commission on this matter.September 19 - Local time early on the 19th, Riyadh, the capital of Saudi Arabia, was attacked by airstrikes, and the sound of missile interception could be heard in the sky.Saudi civil defense officials said the danger in the Khairji area has been averted.

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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