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The Dallas Fed Manufacturing Raw Materials Payments Index for July was 41.3, compared to 42.4 in the previous month.July 27th - HSBC economist Paul Mackel stated in a report that unless the Federal Reserve unexpectedly raises interest rates, its decision this week is unlikely to provide a new catalyst for a dollar rally. Fed Chairman Warsh has acknowledged that inflation is above target and expressed a commitment to price stability. He said that if this weeks meeting merely aligns with these views, the dollar is unlikely to rise significantly, as the market is already priced in a rate hike later this year. "However, we also recognize that some are considering the idea of a surprise rate hike by the Fed, just as it did unexpectedly in February 1994," he said. He added that if the market welcomes it as a move of caution, it would boost the dollar.The Dallas Fed Business Activity Index for July will be released in ten minutes.July 27th - Citigroup traders are betting that the Federal Reserve will keep interest rates unchanged this week. According to Akshay Singal, the banks global head of short-term interest rate trading, their positions will be profitable if the Fed keeps rates stable. Singal stated, "We still maintain our expectation that rates will remain unchanged." He added that Fed Chairman Warsh has clearly stated his desire for the market to focus on data, and the data indicates that the Fed currently does not need to raise rates.Baker Hughes: The impact of the conflict in Iran on some projects and supply chains is expected to be offset by strong performance in other regions.

S&P 500 Attempts to Stabilize

Skylar Shaw

Jun 21, 2022 14:25

Technical Analysis of the S&P 500

The S&P 500 originally fell during Monday's trading session, but subsequently rallied to reclaim the 3700 level in the futures market. The market may be slightly oversold at this moment, but I believe any rise at this point will be viewed as a shorting opportunity at the first signs of weariness. Rallies are still being viewed with distrust by the market, as they should be. The Federal Reserve will do everything it can to tighten monetary policy, and as a result, prices are expected to fall much more.


The 50-day exponential moving average (EMA) is slightly below 4100 and is declining from there. At this time, it appears that it will swiftly approach the 4000 level, which is the enormous, round, psychologically significant number that many traders are watching. However, given the Federal Reserve's current monetary policy tightening, we're going to see a lot more downward pressure.


Furthermore, profit projections must be written down, something the majority of companies have yet to accomplish.


Finally, we are a little oversold, but that oversold position should provide a wonderful selling opportunity above, so I believe symptoms of fatigue are what you should look for following short-term gains. It's also worth paying close attention to the US dollar, as it will have a significant impact on where we go next, and so I believe the US Dollar Index is probably worth paying close attention to.


Finally, I feel that volatility will continue to be a factor that you should be aware of.

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