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Futures Commentary by Everbright Futures: Market sentiment was alternately dominated by US macroeconomic data and geopolitical tensions, with gold experiencing its strongest weekly performance this year last week. Since the second half of the year, gold price movements have shown signs of desensitization to US-Iran geopolitical tensions, with market focus primarily on whether the Federal Reserve "dares" to raise interest rates. Previously, US economic data showed resilience, but inflation data was somewhat stubborn, leading to a surge in expectations of a rate hike, particularly with the probability of a rate hike at the Feds September meeting rising. However, with the weakening performance of US stocks at their high levels and the instability of employment data, the market questioned the Feds, especially Warshs, "hawkish" approach. The unexpectedly weak non-farm payroll data directly shattered previous market pricing in a September rate hike, causing US Treasury yields and the dollar to weaken in tandem, reinforcing the view that the US is struggling between high debt and persistent inflation. Furthermore, while previous outflows from gold ETFs dealt a blow to the market, data from the World Gold Council showed that central banks made a record net purchase of 289 tons of gold in the second quarter, with the Peoples Bank of China increasing its gold purchases for five consecutive months, further boosting market confidence. Therefore, overall, the view that the current position is the bottom range for gold is becoming more solidified, and it is advisable to buy on dips. In the short term, attention should be paid to whether there is a risk of profit-taking due to short-term emotional euphoria after golds continuous rise.The Central Bank of Uzbekistan reported that its gold and foreign exchange reserves totaled $64.347 billion in July (up from $63.757 billion previously).Euro Stoxx 50 futures fell 0.02%, German DAX futures fell 0.02%, and UK FTSE 100 futures fell 0.39%.CEO of Abu Dhabi National Oil and Gas Company: We will continue to closely monitor the situation in the Strait of Hormuz and consider various options.August 10th - According to the latest mobile phone industry research from TrendForce, rising component prices, particularly memory chips, are pushing up the overall cost of Apples upcoming iPhone 18 series. Taking the 256GB versions BOM (Bill of Materials) cost as an example, the estimated annual increase is around 38%, inevitably leading to a higher selling price. To avoid impacting consumer purchasing decisions, Apple may control the price increase by reducing profit margins in exchange for market share expansion.

S&P 500 Price Forecast – Stock Markets Take a Nosedive

Jimmy Khan

Sep 14, 2022 14:15

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Technical Analysis of the S&P 500

During Tuesday's trading session, the S&P 500 E-mini contract briefly hit the 200-Day EMA before being quickly repulsed since American CPI data came in substantially higher than expected. In actuality, the Core CPI figure exceeded expectations by double. Looking at the beginning, it seems that we will attempt to close the little gap below the 4000 level, but if we give up on that, it's possible that we will fall much farther. In this case, a true carnage may be in store for us.


I find it surprising that Wall Street managed to talk itself out of considering anything but a "Fed shift," but they did. This is about the third time they've done it, and it seems to be deliberate. Stocks are inflated in order to be dumped on retail traders. I am fading short-term rallies since doing so has historically been successful because at this point, I would not be shocked in the least if this market made a brand-new bottom. Volatility will be a significant issue for the foreseeable future, if not months.


People will attempt to unite behind the next story, which is that "we already knew that the Fed was going to hike interest rates by 75 basis points." Nevertheless, all pertinent evidence indicates that the economy is set to take a serious blow. I see every rally in this market as a chance to go short. I think a lot of other individuals have the same perspective.

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