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According to Nikkei, Japans total budget request for fiscal year 2027 is expected to reach a record 143 trillion yen.Spains current account balance was €2.41 billion in June, compared with €1.84 billion in the previous month.The chart shows that at 22:00 Beijing time on August 31, there will be large foreign exchange options contracts for Euro, Japanese Yen, British Pound, and Australian Dollar expiring, including 7 contracts with strike prices exceeding 1 billion. Please manage your risks.On August 31, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A reporter asked about the announcement that Vice Premier Ding Xuexiang would visit Russia to attend the 11th Eastern Economic Forum, and to hold the 13th meeting of the China-Russia Investment Cooperation Committee, the 23rd meeting of the Energy Cooperation Committee, and the 8th China-Russia Energy Business Forum. Could the spokesperson provide background information, the schedule, and Chinas expectations for the visit? Guo Jiakun stated that the 11th Eastern Economic Forum will be held in Vladivostok, Russia, from September 1 to 4, with the theme "Far East—Development for the People." China is willing to take this visit as an opportunity to work with Russia to implement the important consensus reached by the two heads of state, promote the high-level development of the China-Russia comprehensive strategic partnership of coordination for a new era, and jointly benefit the people of both countries.Turkey announced that the first meeting of the Strategic Political and Defense Committee, established under the Mecca Joint Defense Agreement signed by Turkey, Pakistan, and Saudi Arabia, will be held today in Istanbul. Prior to the meeting, the Turkish Defense Minister met with the Pakistani Defense Minister. The Turkish Chief of the General Staff also attended the meeting.

S&P 500 Price Forecast – S&P 500 Breaks Through the 200 Day EMA

Cory Russell

Aug 11, 2022 12:08

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After a CPI number that was lower than expected, the S&P 500 has increased. Wall Street is already operating at full throttle in anticipation of receiving sugar from the Federal Reserve.

Technical Analysis of the S&P 500

During the trading session in the E-mini futures market, the S&P 500 broke above the 200 Day EMA, signaling a strong danger to break out above the 4200 level. If we do, then opens the door to a potential move to the 4300 level, which is something that the momentum makes extremely possible.


Having said that, you must exercise caution since there are several crosscurrents present right now. I believe it will be extremely tough to break above the 4300 level, therefore you must think about volatility through the lens of the VIX.


It would be a really bad indicator and may drive this market back down if we did break down below the candlestick's bottom for the impulsive candlestick that we made on Wednesday. There is little doubt that we are reaching a significant turning point on the charts. The market's immediate response to the CPI statistic was favorable, but the issue now is if it can maintain its upward momentum and surge any more. The next fight may occur around level 4300, in my opinion, since it is more probable than not at this time.


Even though the CPI figure was lower than expected, it is still almost three and a half times what the Federal Reserve likes to see, so prepare for very high volatility. In other words, it will probably only take a short while before someone on the Federal Reserve Board attempts to calm things down.

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