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According to the UAE news agency, Trump discussed cooperation between the UAE and the United States and ways to further strengthen relations in support of common interests.August 18th - Investors have reason to worry about inflation, but this may not be the primary reason for rising bond yields. In fact, inflation expectations, as measured by the breakeven rate, are quite close to the Federal Reserves long-term target of 2%. Capital.com analyst Daniela Hathaway stated, "Investors can be confident that inflation will average around 2%-2.5% in the long run, but this forecast is becoming less certain due to oil, tariffs, fiscal policy, and other supply shocks." She added that the bond sell-off is driven by "persistent inflation risks, massive government borrowing, and increasingly fierce competition for capital, rather than simply a sharp rise in expected inflation itself."International Atomic Energy Agency: No nuclear safety or security damage was reported following the drone explosion.On August 18, Qatari Foreign Ministry Spokesperson Majid Ansari stated that Qatars current diplomatic efforts are primarily focused on de-escalating the crisis and preventing further escalation. The solution lies in achieving a ceasefire between the US and Iran, opening the Strait of Hormuz and guaranteeing freedom of navigation, while simultaneously pushing the US and Iran back to the negotiating table. Ansari noted that Qatar and Pakistan previously mediated a memorandum of understanding between the US and Iran, and Qatar is working to restore dialogue between the two sides and implement the memorandum. However, due to the breach of the ceasefire, the relevant provisions have not been fully implemented. Currently, Qatar is awaiting an agreement between Oman and Iran on the Strait of Hormuz issue, hoping to use this to resume the negotiation process and prevent further escalation. Ansari also stated that the current priority is to reach an agreement that simultaneously ensures the opening of the Strait of Hormuz and a ceasefire. Qatar will continue to push all parties involved to return to negotiations to implement the previously reached memorandum of understanding or to reach an agreement to end the war.The International Atomic Energy Agency (IAEA) reported that the explosion injured or killed 16 employees and contractors, including one fatality and three serious injuries.

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

Jimmy Khan

Feb 10, 2023 15:30

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Thursday's trading session saw a minor increase in optimistic sentiment for the S&P 500 as the E-mini contract increased once again. Having said that, we do generally continue to coil, and I believe that will likely be the case moving ahead.

Technical Analysis of the S&P 500

As we continue to trade in the same range that we have been in for the last week or so, the S&P 500 E-mini contract has marginally risen during Thursday's trading session. We are now in the middle of earnings season, which is characterized by a lot of noise that will continue to give people problems.


Breaking over the 4200 level would be a really powerful indicator, but I don't see it occurring very quickly since it seems to be a highly resistant level. This puts us in a position where, if we break below this level, we might descend all the way to the downtrend line, where the 50-Day EMA is just about to cross the 200-Day EMA.


The S&P 500 E-mini contract's short-term "floor in the market" is now believed to be that golden cross region, which also happens to be the 4000 level. However, I believe that ultimately you have to see this through the lens of a market that is extremely choppy and unsteady. Anything below there may unleash a tremendous wave of selling. If that's the case, it will be challenging to sled, so you need to be careful with the size of your position. Having said that, it's perhaps important to note that the recent highs have been steadily declining. Something is likely going to move swiftly and soon.

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