EUR/USD 1.17347
0.218%
Gold 4414.00
1.717%
Oil 57.115
1.065%
USD/JPY 157.376
-0.196%
GBP/USD 1.34344
0.456%
GBP/JPY 211.423
0.256%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
ECB Governing Council member Kazmir: The ECB remains flexible and is ready to act if necessary.The Russian Ministry of Defense stated that Russian troops have captured Vilcha in the Kharkiv region of Ukraine.On December 22nd, according to a recent report by the Asahi Shimbun, the Japanese government plans to levy higher taxes on electric vehicles and plug-in hybrid electric vehicles based on their weight starting in 2028. Specific tax rates will be determined starting in 2026. A new tax called the "Electric Vehicle Weight Tax" will apply to pure electric vehicles and plug-in hybrid electric vehicles from May 2028. This tax will be added to the "Automobile Weight Tax" that owners must pay at each annual vehicle inspection. Officials plan to refer to the average amount of gasoline tax paid by owners of gasoline-powered vehicles when setting the tax rate. However, generally speaking, the heavier the vehicle, the higher the tax rate applicable to electric vehicles. In addition, electric vehicles will also face a higher annual automobile tax. Currently, this tax is levied based on the vehicles engine displacement. Since electric vehicles do not have engines, owners currently pay the lowest amount, but from fiscal year 2028, the tax will be calculated based on the weight of the electric vehicle.Danish Foreign Minister: I am particularly disturbed by the special envoys remarks about annexing Greenland to the United States, and we consider it completely unacceptable.Danish Foreign Minister: I am deeply disturbed by the United States appointment of a special envoy to Greenland.

S&P 500 Price Forecast – Stock Markets Continue to Worry About Rates

Jimmy Khan

Feb 22, 2023 16:31


Technical Analysis of the S&P 500

The S&P 500 E-mini contract started overnight trading poorly and hasn't been making a lot of sense. Yet, the contract's high level of volatility persists, and as a result, downward pressure is beginning to build. It's important to note that the 200-Day EMA and the 50-Day EMA are located immediately below. Given that they are both rather flat, there may not actually be any momentum.


As it is slightly above the psychologically and structurally significant 4000 level, this may pave the way for a support level to develop in that approximate area. You must keep in mind that earnings season is now underway because it could cause the market to fluctuate. The moving averages and the psychologically significant 4000 level, if we were to break down below them, might drive the futures market and the index itself significantly lower.


It thus creates the chance of a decline down to the 3900 level, where we had experienced some buying pressure. Following that, there comes the 3800 level, which is considerably more significant and will get a lot of attention. When it comes to whether or not the market can save itself, we would be in that general area hanging on by a thread.


The previous two candlesticks have undoubtedly looked pretty bearish, and I think that may have some momentum built up in it. If the market were to flip around and bounce, then it may try to move towards the 4200 level. The minutes from the Federal Open Market Committee meeting, which are released on Wednesday, will undoubtedly also be relevant. This ought to provide traders a good indication of what the Federal Reserve members discussed during the meeting and whether or not there is an overall hawkish mindset or if there are any ice cracks appearing. This will have a significant impact on the market.

Suggestion