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March 14 – According to foreign media reports, U.S. Energy Secretary Frank Wright took action on Friday to retaliate against two of the Trump administrations biggest adversaries: the oil supply disruptions caused by the war with Iran, and California Governor Gavin Newsom. Wright issued an order clearing the way for a company operating near the California coast to restart an oil pipeline that had been shut down by state officials since 2015. The Department of Energy characterized this move as a way to reduce reliance on oil imports via the Strait of Hormuz. "Today, more than 60 percent of the oil used by California refineries comes from overseas, a significant portion of which is transported through the Strait of Hormuz—a serious national security threat," the Department of Energy wrote in a statement. Wright stated that this move will "strengthen the United States oil supply and restore pipeline systems critical to our national security and defense, ensuring that military facilities on the West Coast have reliable energy sources essential for readiness."According to the Wall Street Journal, sources familiar with the matter said that given polls showing President Trump’s actions on the vaccine issue are unpopular, his aides have decided to take a more active role in managing the U.S. Department of Health and Human Services, which is led by Robert F. Kennedy Jr.According to the Wall Street Journal, sources familiar with the matter revealed that the White House is tightening its control over the Department of Health and Human Services information dissemination and policy-making, including policies surrounding vaccines, in preparation for the midterm elections.March 14th - Today, the National Bureau of Statistics released data on price changes of key production materials in the circulation sector for the first ten days of March 2026. According to monitoring of market prices for 50 key production materials across nine categories nationwide, compared to the first ten days of February 2026, prices for 37 products increased, 10 decreased, and 3 remained unchanged.March 14th - According to foreign media reports, U.S. Interior Secretary Doug Bergham stated that the Trump administration had discussed curbing oil prices through trading in the oil futures market. However, Bergham said he was unclear whether the U.S. had actually intervened in the market. Bergham stated on Saturday, "I must say, there have been discussions. There are many smart people in this administration—and many smart people in the energy trading market. Trying to manipulate and lower prices through intervention requires a huge amount of money. Thats all I can say about that." The head of the company that regulates West Texas Intermediate crude oil futures trading warned that if the federal government were to begin trading derivatives to lower crude oil prices, it would be a "bible-level disaster."

S&P500 Update: The Bears Are In Charge, Is 3300 Next?

Florala Chen

Sep 19, 2022 15:21

After three waves up, five waves down

The S&P 500 has completed five Elliott Wave Principle (EWP) waves downward since the mid-August peak. Look at Figure 1 below. This pattern indicates to me that the market's current prevailing route is once again downward. In addition, the rally from June to August was just three waves long—a corrective, counter-trend rally. Therefore, a break below SPX3886—the low from last week and the low from today—tells me an impulsive path is probably emerging, as indicated.

微信截图_20220919151821.png

A Break Below SPX3886 Lets a Waterfall Decline Through

An impulsive pattern with ideal target zones of SPX3515-3400 for (red) W-iii/c, a probable W-iv bounce back to preferably SPX3675-3785, and a last decline to ideally SPX3230-3330 to complete W-v of W-c of W-A is made possible by a break below the early September low of SPX3886.


This overall wider picture W-A has a tiny subtlety, but the expected path and downside goals remain the same. I'll therefore talk about it when we arrive. In contrast, the index has to rise over this week's high of 4119 to signal that a bearish trend is not developing and that 4500 is the next level. But for the time being, I want to gaze downward.

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