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1. The three major U.S. stock indexes closed slightly higher. The Dow Jones Industrial Average rose 0.07% to 49,533.19 points, the S&P 500 rose 0.1% to 6,843.22 points, and the Nasdaq Composite rose 0.14% to 22,578.38 points. Apple rose more than 3% and Nike rose more than 2%, leading the Dow Jones. Citigroup rose 2.7% and JPMorgan Chase rose 1.7%. The Wind U.S. Tech Big Seven Index rose 0.53%, with Amazon and Nvidia rising more than 1%. The Nasdaq China Golden Dragon Index fell 0.1%, with LuKing Holdings rising nearly 16% and TAL Education Group falling more than 3%. Supported by gains in financial stocks, the major stock indexes regained their footing after last weeks decline. 2. European stock markets closed higher across the board. The German DAX index rose 0.8% to 24,998.4 points, the French CAC40 index rose 0.54% to 8,361.46 points, and the UK FTSE 100 index rose 0.79% to 10,556.17 points. 3. US Treasury yields were mixed. The 2-year Treasury yield rose 3.34 basis points to 3.435%, the 3-year Treasury yield rose 2.22 basis points to 3.467%, the 5-year Treasury yield rose 1.73 basis points to 3.621%, the 10-year Treasury yield rose 1.14 basis points to 4.060%, and the 30-year Treasury yield fell 0.58 basis points to 4.689%. 4. International precious metals futures generally closed lower. COMEX gold futures fell 2.33% to $4896.10 per ounce, and COMEX silver futures fell 3.93% to $73.55 per ounce. 5. The WTI crude oil futures contract closed down 2.24% at $62.3 per barrel; the Brent crude oil futures contract fell 1.85% to $67.38 per barrel. Progress was made in negotiations between the United States and Iran on the nuclear agreement, with both sides reaching an agreement on key principles. Market concerns about geopolitical risks eased, and expectations of tight oil supply weakened. 6. Most London base metals fell. LME zinc was flat at $3,290.0/ton, LME tin fell 0.21% to $45,585.0/ton, LME aluminum fell 0.54% to $3,036.0/ton, LME lead fell 0.74% to $1,943.5/ton, LME copper fell 1.46% to $12,663.5/ton, and LME nickel fell 1.67% to $16,830.0/ton.Reserve Bank of New Zealand: The labor market is stabilizing, but the unemployment rate remains high.Japanese Chief Cabinet Secretary Minoru Kihara: Japans investment projects in the United States will promote mutual benefit and economic growth for both countries, and ensure economic security.The Reserve Bank of New Zealand (RBNZ) expects the official cash rate to be 2.26% in June 2026 (previously 2.2%) and 2.52% in March 2027 (previously 2.34%).Japanese Chief Cabinet Secretary: Japans investment projects in the United States will promote mutual benefit and win-win results between the two countries, drive economic growth, and safeguard economic security.

S&P 500 Price Forecast – Stock Markets Run Out of Momentum

Skylar Shaw

Jun 28, 2022 14:50

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Initial attempts at a rebound by the S&P 500 in the futures market on Monday failed due to the overbought state on Friday stalling.

Technical Analysis of the S&P 500

The S&P 500 attempted to rebound early in the Monday session in the futures market, but has encountered a little bump on the road because to the ongoing commotion. As a result, there is a good chance that the market will continue to experience trepidation and maybe a retreat. Even if the Friday session was quite volatile, we are still very much in a downturn. You might perhaps make a weak case for portfolio rebalancing on Friday or, to be honest, merely short-covering as we go into the weekend.


Nevertheless, the 50 Day EMA is rapidly approaching the 4000 mark, therefore I believe it is also speaking. I've been seeking for a chance to short this market when it shows indications of weariness, and I think I'm about to. At least until we break over the 4200 barrier, I have no interest in purchasing the S&P 500. It's important to be patient and select your locations in the meantime. If it begins to move in my way, I will add to my initial little position. It is not always possible to quantify short selling, making it something of an art form. Risk management, emotion, and fear are all important factors.


It should be emphasized that I usually take around half as much risk when shorting a company or an index as when I would be purchasing it. They are not intended to fall for extended periods of time, which is the reason.

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