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On June 12, Bank of Korea Governor Shin Hyun-song warned that the central bank cannot lag behind the curve in controlling inflation. This statement sends a clear signal that policymakers are feeling an increasing urgency to act sooner rather than later. Shin stated that concerns about inflationary pressures have increased as the Middle East conflict continues. This comment is likely to reinforce market expectations that the Bank of Korea will resume its tight monetary policy as early as next month. The current Iranian crisis is pushing up energy prices and disrupting supply chains. Shin also stated that, overall, the current dynamics regarding growth, inflation, and financial stability point relatively clearly from a monetary policy perspective. While the central bank governor needs to consider multiple factors, it is crucial to avoid acting too late when price stability is threatened. Even if cost-easing measures alleviate some of the pressure, South Koreas inflation may remain above the target level for an extended period.German government officials said they expect the EU summit to instruct the European Commission to revise its toolkit for dealing with unfair trade practices.Both WTI and Brent crude oil futures fell by more than 4% during the day.Nomura Securities predicts that the European Central Banks terminal interest rate will rise to 3.00% by March 2027—the most hawkish forecast in the market consensus, 40 basis points higher than the current market price.A Ukrainian defense source said that Ukraine will request an additional $20 billion in military spending from its allies next week to consolidate its battlefield advantage over Russia.

S&P 500 Price Forecast – Stock Markets Continue to See Selling Pressure

Skylar Shaw

Sep 30, 2022 15:09

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Technical Analysis of the S&P 500

Due to the continued strong downward pressure on stock markets, the S&P 500 E-mini contract has been quite bearish throughout Thursday's trading session. In the end, a lot of things are happening all around the globe, and the US dollar is strengthening. The S&P 500 won't do well in that climate, and neither will any other stock index, for that matter. I like fading rallies, and I also enjoy the notion of shorting those who do experience that break down below the 3600 mark.


The S&P 500 will likely have dropped below the 3500 level by then, which is a big, round, psychologically meaningful number. In the end, this is a market that, given enough time, should see a lot of volatility and, therefore, a lot of causes for people to feel uneasy. Nevertheless, bear market rallies have a reputation for being rather nasty, so an occasional snap to the upside is possible.


Given the market's continued exposure to a lot of outside unfavorable impact, they will almost certainly remain selling opportunities. Interest rates, global slowdowns, and a slew of other geopolitical concerns are all producing problems at the moment. In the end, I believe that in this situation, with enough time, we should see significant downward pressure. In light of this, maintain a manageable position size and refrain from going all in on each transaction you make. In a market like this, sound money management is essential.

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