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According to Israeli media N12, sirens sounded in northern Israel and the Sharon region following Irans missile launch.Kuwaiti Army: Fuel storage tanks belonging to Kuwait International Airport were targeted in a drone attack.On March 8th, four sources familiar with the matter told Reuters that Saudi Arabia has informed Iran that while it supports a diplomatic solution to the conflict between Iran and the United States, it may take appropriate measures in response if Iran continues to attack Saudi Arabia and its energy sector. The sources revealed that two days prior, the Saudi Foreign Minister met with the Iranian Foreign Minister and clearly articulated Riyadhs position. The sources indicated that Saudi Arabia is willing to accept any mediation approach aimed at de-escalating the situation and reaching a solution through negotiations. They also emphasized that Riyadh and other Gulf states have never allowed the United States to use their airspace or territory to launch airstrikes against Iran.On March 8th, local time, on the evening of the 7th, Iranian Islamic Revolutionary Guard Corps spokesman Naini stated that in the first week after the outbreak of the conflict, the Iranian armed forces implemented a multi-layered offensive strategy. Statistics show that Iran conducted 600 missile strikes, using various types of solid and liquid-fueled ballistic missiles and cruise missiles. In addition, Iran conducted 2,600 drone operations. During these operations, more than 200 sensitive targets located at US military bases and key Israeli facilities were precisely targeted and destroyed. Naini emphasized that the scale of Iranian firepower projection in the first three days of the conflict was equivalent to the total firepower deployed during the entire "12-Day War." Naini also stated that 17 ships belonging to the United States, Israel, and their allies have been attacked.Local news agencies, citing sources from Irans oil ministry, reported that fuel depots in three regions, including Karaj, west of the capital Tehran, were attacked.

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.

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