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Iranian media reported that 18 crew members of a foreign oil tanker seized in the Gulf of Oman have been detained on suspicion of transporting "smuggled fuel."On December 13th, Han Wenxiu, Deputy Director of the Central Financial and Economic Affairs Commission and Director of the Central Rural Work Leading Group Office, stated that to ensure the success of next years economic work, it is essential to adhere to the principle of seeking progress while maintaining stability, improving quality and efficiency, strengthening counter-cyclical and cross-cyclical adjustments, and effectively enhancing the efficiency of macroeconomic governance. Since the Politburo meeting on September 26th last year, a series of policies and measures have been introduced and implemented, and additional policies will be introduced and implemented next year based on changes in the situation. It is crucial to leverage the integrated effect of existing and new policies to promote steady and positive economic growth. The market economy is largely an expectation economy; therefore, it is necessary to improve the expectation management mechanism, conduct effective economic publicity and public opinion guidance, respond promptly to market concerns, and effectively boost social confidence.On December 13th, it was reported that an EU official stated on the 12th that Ukraines accession to the EU before 2027 is "absolutely impossible." According to reports, a European diplomat said that Ukraines accession to the EU before 2027 is "extremely difficult," and it is unclear whether EU leaders support this plan. Hungarian Prime Minister Viktor Orbán stated on the 8th that the EUs admission of Ukraine would be tantamount to declaring war on Russia, and that the EU is preparing for war with 2030 as the target date.On December 13, Venezuelan President Maduro stated that the United States usual tactics of lying, coercion, extortion, and threats are "completely ineffective" and "will never work" against Venezuela, following the recent seizure of an oil tanker in waters near Venezuela and the announcement of new sanctions.On December 13th, two US officials stated that the UN-authorized international stabilization force in Gaza could be deployed as early as next month, but the method for disarming Hamas remains unclear. The force will not fight Hamas, and its size, composition, and rules of engagement are still being determined.

S&P 500 Price Forecast – Markets Grind Away as We Exit 2022

Alice Wang

Dec 30, 2022 16:07

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Technical Analysis of the S&P 500

The S&P 500 hasn't changed much throughout Thursday's trading session as we continue to just hover over the 3800 mark. There's no real incentive to be too clever with this and attempt to put on large holdings on the way out the door since this market will be suffering from a lack of liquidity.


Because individuals will be waiting for the jobs figure at the end of the next week before investing money, it's extremely likely that the upcoming few sessions will be very quiet. That is the second important core reason to participate, but obviously not everyone will immediately return to their desks on January 2.


Given that the market seems to favor the downside, I am going to be fading short-term rallies as soon as they start to show indications of weariness in order to profit from any potential swings. I believe that if we can go below the 3800 level, we may reach the 3600 level. On the upside, the 200-Day EMA and the downward moving line are both located close to the 4000 level.


If we can get over all of that, we may be able to climb higher, but I believe it would need a significant mental adjustment. To be very honest, I believe that current market is more of a "fade the rally" sort of scenario. Since we have been descending for some time, I don't anticipate any change in the near future.