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Stablecoin Tether hires BDO Italia for monthly proof-of-reserve reports

Florala Chen

Aug 19, 2022 15:19



Because we are pressing into significant barrier, stock markets have been a little apprehensive throughout Thursday's trading session.

Technical Analysis of the S&P 500

One must now consider whether or not we are running out of momentum or whether we are merely anticipating a signal to go higher after the S&P 500 shown some hesitancy at the 4300 mark. I believe that in the long run, a temporary decline is probably advantageous for both buyers and sellers, thus I believe that it does make sense. The 4186 level, where the 200 Day EMA is located, would be a good target.

However, it's conceivable that we would move considerably higher if we were to break above the highs of the previous several days. It then becomes possible for a migration to occur to the 4500 level. Frankly, it's fascinating to see that not much has been accomplished since the FOMC Meeting Minutes were made public. The could be the strongest message from that show by itself.


The 4100 level would be a good place to start if we were to break down, which may increase selling pressure significantly. We must, of course, keep a tight eye on the bond market. We have a big struggle on our hands since many traders in the Eurodollar futures think the Federal Reserve will need to start easing monetary policy sooner rather than later. I believe that the majority of traders just don't know what to do with themselves right now. That shouldn't come as a great surprise given that the majority of the financial media rely on confusion to generate revenue, and given that the noise is at an all-time high right now. The US economy has many drawbacks, but that was also true 500 points ago.

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