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Futures market data from September 15th indicated that OPEC+ continued to increase production, but with complex policies and renewed geopolitical uncertainty, crude oil prices consolidated in the previous week, but the extent of the increase was limited. This week, the market will continue to monitor geopolitical developments. Supply concerns stemming from sanctions against Russia will continue to support the oil market, but seasonal shifts in US oil demand and the prospect of an oil glut will continue to exert pressure. Furthermore, with the Federal Reserve meeting approaching, the market is cautious, and crude oil prices are expected to remain consolidated and volatile.On September 15th, with the popularity of Googles NanoBanana image generation model, Google Geminis downloads in the US AppStore have surpassed ChatGPT, becoming the number one application on the free list.Berenberg: Raised Oracle (ORCL.N) target price to $306 from $202.September 15th news: In the early morning of September 15th local time, Yemeni Houthi armed spokesman Yahya Saraya issued a video statement on the social platform saying that the Houthi armed forces launched a total of 4 drones to attack 2 Israeli targets, of which 3 drones attacked Israel’s second largest airport-Ramon Airport, and another drone attacked Israeli military targets in the Negev region.On September 15th, if the Bank of England halts its active sales of gilts at a key decision this week, British Chancellor of the Exchequer Reeves will need to raise an additional £4 billion (US$5.4 billion) to keep his budget on track. In addition to Thursdays interest rate decision, the Bank of England will also announce the pace of reduction in its crisis-era quantitative easing bond portfolio over the next 12 months—a potentially daunting challenge for Reeves as he prepares to deliver the budget on November 26th. Since the Bank of Englands gilt holdings are currently losing money, a decision to slow the pace of reduction would increase the burden on British taxpayers. This would be a significant blow to Reeves, who already needs to raise £35 billion after rising borrowing costs, a weak growth outlook, and a series of sharp policy shifts that have depleted fiscal buffers. The Bank of England faces a dilemma: balancing the fiscal costs of slowing gilt sales with the risk of exacerbating financial market instability by continuing to ask investors for large-scale bond purchases. This month, the yield on 30-year gilts hit its highest level since 1998.

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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