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Russian Deputy Foreign Minister: Russia and Belarus are always prepared to use all available means, including nuclear weapons, to ensure security.On June 9th, EU High Representative for Foreign Affairs and Security Policy Kallas stated on the 8th that every effort must be made to enable dialogue between Russia and Ukraine, while Europes core security interests must also be respected. However, Kallas believes now is not the right time to begin negotiations with Russia on the Ukraine issue. It is understood that there are still differing opinions within the EU regarding how to promote negotiations and when to initiate substantive contact, with some countries believing that the conditions for serious negotiations with Russia are not yet in place. The leaders of Britain, France, and Germany met with Ukrainian President Zelensky in London on the 7th and issued a joint statement expressing support for direct dialogue between Ukraine and Russia.1. U.S. stock indexes closed mixed. The Dow Jones Industrial Average fell 0.16% to 50,786.01 points, the S&P 500 rose 0.3% to 7,405.73 points, and the Nasdaq Composite rose 0.86% to 25,929.66 points. Travelers Group fell more than 2%, and Apple fell nearly 2%. Chip stocks rebounded, with the Philadelphia Semiconductor Index rising 5.61%, Intel rising more than 11%, and Marvell Technology rising more than 9%. The Wind U.S. Tech Big Seven Index fell 0.22%, with Google and Microsoft falling more than 1%. 2. European stock indexes closed mixed. The German DAX fell 0.58% to 24,616.22 points; the French CAC40 fell 0.23% to 8,199.29 points; and the UK FTSE 100 rose 0.05% to 10,373.20 points. 3. International precious metals futures generally closed lower. COMEX gold futures fell 0.26% to $4,353.80 per ounce, and COMEX silver futures fell 1.13% to $68.33 per ounce. 4. The most active US crude oil contract closed up 0.82% at $91.28 per barrel; the most active Brent crude oil contract rose 1.1% to $94.11 per barrel.June 9th - A survey released on Tuesday showed that British consumers increased spending in May after cutting back in April, but spending on travel declined for the third consecutive month, indicating market caution regarding the economic impact of the war with Iran. Barclays and the British Retail Consortium stated that hot weather boosted sales of clothing and other goods.UK BRC total retail sales rose 3.7% year-on-year in May, compared with -3% in the previous month.

S&P 500 Price Forecast – Consolidation Continues in the S&P 500 E-mini Contract

Jimmy Khan

Feb 13, 2023 15:16

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S&P 500 Technical Analysis

The S&P 500 E-mini contract has barely gained during Thursday's trading session as we remain in the same trading range that we have been in for the last week or so. Earnings season, which is now underway and is marked by a lot of noise that will continue to cause people issues, is in full swing. A truly strong signal would be a break over the 4200 mark, but I don't see that happening anytime soon since that level looks to be quite resistive. As a result, we are in a situation where, if we break below this level, we can go all the way down to the downtrend line, where the 50-Day EMA is just about to cross the 200-Day EMA.


That area of the golden cross, which also happens to be the 4000 level, is currently seen to represent the short-term "floor in the market" for the S&P 500 E-mini contract. But in the end, I think you have to look at this through the prism of a really erratic and unstable market. Anything lower might trigger a massive selling avalanche. If that's the case, sledding will be difficult, so you should be cautious about the size of your stake. However, it's probably crucial to remember that recent highs have been progressively falling. Something is probably about to happen quickly and soon.