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1. All three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 0.54% to 49,395.16 points, the S&P 500 fell 0.28% to 6,861.89 points, and the Nasdaq Composite fell 0.31% to 22,682.73 points. Boeing fell more than 2%, leading the decline in the Dow. The Wind U.S. Tech Big Seven Index fell 0.29%, with Apple falling more than 1%. The Nasdaq China Golden Dragon Index fell 0.35%, with LuKong falling more than 3% and BaWangChaJi falling more than 2%. 2. Most of the three major European stock indexes closed lower. The German DAX fell 0.93% to 25,043.57 points, the French CAC40 was flat at 8,429.03 points, and the UK FTSE 100 fell 0.55% to 10,627.04 points. 3. A report released by the U.S. Treasury Department shows that in December of last year, 14 major countries and regions reduced their holdings of U.S. Treasury bonds, with a total reduction of $88.4 billion. The total holdings of U.S. Treasury bonds by overseas "creditors" fell to $9.27 trillion. The top three overseas "creditors" of the U.S.—Japan, the UK, and China—all chose to reduce their holdings of U.S. Treasury bonds. Among them, Japans holdings of U.S. Treasury bonds decreased by $17.2 billion to $1.1855 trillion, while the UK significantly reduced its holdings by $23 billion, with its holdings falling to $866 billion. 4. The U.S. crude oil futures contract closed up 2.49% at $66.67 per barrel; the Brent crude oil futures contract rose 2.25% to $71.93 per barrel. 5. International precious metals futures generally closed higher. COMEX gold futures rose 0.12% to $5015.50 per ounce, and COMEX silver futures rose 1.09% to $78.44 per ounce.The yield on Japans 5-year government bond fell 1.0 basis point to 1.620%.Japans preliminary services PMI for February was 53.8, down from 53.7 in the previous month.Japans preliminary manufacturing PMI for February was 52.8, down from 51.5 in the previous month.Japans preliminary composite PMI for February was 53.8, compared to 53.1 in the previous month.

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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