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On September 8, Hamas issued a statement on the 7th, claiming that the Israeli government and military are attempting to cover up their crimes against Palestinians by clearing, crushing, and removing rubble from the Gaza Strip. The statement asserted that the rubble still contains the remains of thousands of missing persons, as well as direct physical evidence proving that Israel has committed genocide over the past two years.On September 8th, US President Trump stated on social media that Bombardier products would no longer be sold in the United States, claiming that the companys products were "not good enough" and that over 50% of its revenue came from the US, relying on American buyers, businesses, airports, and services. Trump accused Canada of restricting US banks and businesses from entering its market, stating that Canada even prevented Gulfstream Aerospace from operating there, calling this "unjust and unfair." Trump declared, "That era is over," and that if Bombardier wants to enter the US market, it must produce in the US and can no longer treat the US as an "ATM." He also urged people to "buy American," fly on American airlines, and consume American alcohol and beverages, reiterating "America First."On September 8th, Iran unveiled a new missile on the 7th local time. Iran stated that the debut of the ballistic missile, named "Qassem Bashir," is a milestone in the countrys defense strategy. This missile boasts a longer range and higher accuracy, symbolizing Irans shift "from passive deterrence to active deterrence." Iran claims that the "Qassem Bashir" missile uses solid fuel, electro-optical guidance, and a half-ton warhead, sending a clear message to adversaries: Iran is no longer merely reacting passively, but actively defending itself.Rosatom: Off-site power supply to the Zaporizhzhia nuclear power plant has been restored via the Ferosplavna transmission line.September 8th - According to sources, Deutsche Telekom, Orange, Vodafone, and Telefonica are in preliminary discussions to form an alliance to jointly bid for EU satellite spectrum and provide "satellite direct-connect mobile" services, competing with Elon Musks Starlink. No final decision has been made yet. The EU is considering new rules for 2GHz satellite spectrum. After existing licenses expire in 2027, approximately one-third of the spectrum will be reserved for domestic operators controlled by European companies to enhance Europes independent satellite communication capabilities; another third is intended for sovereign communication services provided by the European IRIS² satellite constellation; and the remaining third will be open to international companies for bidding. Starlink currently provides satellite broadband in most parts of Europe and collaborates with companies like Deutsche Telekom to develop direct-connect services, but it does not yet have the right to independently utilize relevant EU spectrum to provide such services.

Stock Markets Continue to Get Hammered

Skylar Shaw

Jul 06, 2022 14:55

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Technical Analysis of the S&P 500

During Tuesday's trading session, the S&P 500 attempted to rise a little at first before turning around and falling considerably. The market then began to weaken and broke down below the 3800 level. The 3750 level was then challenged, which has served as support over the last several days. However, I believe it will likely not take long for the price to break down from here and continue to decline. I believe it will only be a matter of time until we test and perhaps even break past the 3700 level since it is a strong area of support.


The 3950 level may act as barrier if we do reverse course and rally, as it did in recent weeks. The 50 Day EMA, the 3993 level, and falling come next. In the end, I believe that this market will continue to see a great deal of negative, therefore I'm watching for signals of tiredness to sell, similar to what we saw in the futures market early on Tuesday.


Both the Federal Reserve's continued tightening of monetary policy and the need for companies across the S&P 500 to write down results will work vehemently against this index. Because of this, I am not interested in investing in this market until a fundamental shift takes place, which I just don't believe will happen soon. Longer-term investors could see this as a chance to "pick up value," but I would exercise caution since there are so many factors now pushing against the stock market.

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