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January 4th - Demonstrations were planned in multiple locations across the United States on the afternoon of January 3rd local time to protest the US military action against Venezuela. One of the groups organizing the protests stated in a press release, "We need to take to the streets and say no to another endless war! The people of this country do not want another war! Americas war will bring death and destruction to the Venezuelan people." Demonstrations are reportedly planned in Chicago, Manhattan in New York, outside the White House in Washington D.C., and at city halls and state capitols across the United States. According to CNN, Venezuelan President Maduro is expected to be transferred to New York today.Note: The press conference held by US President Trump regarding the military action against Venezuela has ended.US President Trump: We know who the bad guys are in the Maduro regime, and we are dealing with them.On January 4th, in response to a question about how this action would affect U.S. relations with countries with interests in Venezuela regarding oil and drugs, U.S. President Trump stated, "As for some countries that need oil, were in the oil industry, and well sell oil to them. We wont refuse to go to those places. In other words, well probably sell oil on a larger scale because their infrastructure is so poor and their production is very limited. So well be selling a lot of oil to other countries, many of which are already using it. But I think more countries will join in."US President Trump: We will ensure that those forced to leave Venezuela are properly resettled.

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.

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