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January 31 – According to a report in the New York Times, documents released by the U.S. Department of Justice on Friday show that billionaire businessman Howard Lutnick, who served as Commerce Secretary in the Trump administration, planned to visit Jeffrey Epsteins private island. This planned visit took place in 2012 – a time when Lutnick had previously claimed to have severed ties with Epstein. Records show that in December 2012, Lutnick emailed Epstein to inquire about his location, stating that he, his family, and another family were in the Caribbean and asking if he could join them for a meal. Epstein replied through an assistant with his location on Little St. James Island, near the coast of St. Thomas in the U.S. Virgin Islands, and the two sides finalized the arrangements for a luncheon. The documents confirm that the visit did take place: the meeting was scheduled for December 23, 2012, and the following day, Epsteins assistant forwarded Lutnick a message from Epstein that read, "Its a pleasure to see you." In recent years, the visits of prominent figures closely associated with Epstein to the island have been subject to public scrutiny, but Lutnicks planned itinerary for this trip had not been disclosed before.New Energy Vehicles: 1. Zhijie officially announced its first OTA update for the entire series this year. 2. Shanghai: Provides subsidies for car replacement and upgrades, with subsidies for purchasing new energy passenger vehicles not exceeding 15,000 yuan. 3. Chinas car dealer inventory warning index for January was 59.4%, down 2.9 percentage points year-on-year and up 1.7 percentage points month-on-month. 4. Cui Dongshu: The total number of public charging piles in December 2025 will reach 4.72 million, up 92,000 month-on-month and 1.14 million year-on-year. Integrated Circuits (Chips): 1. Alibaba clarified its "Cloud + AI + Chip" strategy, with PPU chip shipments already reaching hundreds of thousands of units. 2. Cambricon: Expects net profit of 1.85 billion to 2.15 billion yuan in 2025, turning a profit. 3. SK Hynixs first-quarter profit is expected to exceed expectations due to rising chip prices. 4. Reports indicate that Hitachi plans to divest its memory business for a maximum price of 200 billion yen. 5. Apple CEO Tim Cook: The advanced chip manufacturing technology used in the chips has led to supply constraints. Memory prices had a negligible impact on the first fiscal quarter. Artificial Intelligence: 1. Indian Science and Technology Minister: India will launch an AI model next month. 2. Alibabas 1000 Questions: The DeepPlanning benchmark has officially launched. 3. Tesla discontinues its flagship model, betting 20 billion on a million robots. 4. Li Auto executives confirm entry into humanoid robots. Other: 1. A 240-ton-class commercial reusable high-pressure staged combustion liquid oxygen-kerosene engine successfully completed a long-range test. 2. Japanese media: Apple will prioritize releasing high-end iPhone models this year. 3. Market news: Several more AI researchers and Siri team executives have recently left Apple, including Siri senior director Stuart Powers, who left to join Google.Gaza Situation: 1. Hamas: The handover of governance in Gaza is fully complete. 2. US President Trump: (Regarding the Middle East) Hamas was a key factor in the hostage release. Hamas appears to be on the verge of disarmament. 3. Coordinating Government Operations Headquarters (COGAT): The Rafah border crossing between Gaza and Egypt will reopen on Sunday. Iran Situation: 1. The Israeli military is reportedly working closely with the US military on military action against Iran. 3. US President Trump stated that a team (referring to the military) is heading to Iran, and also mentioned plans for dialogue with Iran. 4. Russian President Putin met with Iranian Supreme Leader advisor Larijani. 5. The US announced new sanctions against Iran; US Treasury Secretary Bessenter: These will continue to target Iranian networks and elites. 6. Turkish Foreign Minister: Restarting negotiations on the Iranian nuclear issue is crucial for us and helps ease regional tensions. Israel is trying to persuade us to attack Iran. 7. Iranian Foreign Minister: The Iranian missile issue will never be a topic of negotiation. Iran is prepared for both scenarios—war or diplomacy. So far, we have no plans to meet with US officials. Other: 1. A U.S. guided-missile destroyer docked at the Israeli Red Sea port of Eilat. 2. Israel declared a senior South African diplomatic representative persona non grata and ordered him to leave Israel within 72 hours. 3. Syrian Kurdish forces stated they have agreed to integrate their military forces into the Syrian government in phases as part of a comprehensive agreement. 4. According to Syrian state television: Syrian government officials confirmed a "final agreement" with the Kurdish forces, which will be implemented immediately.On January 31, Venezuelan Acting President Delcy Rodriguez announced on January 30 that the Venezuelan government had decided to push forward a comprehensive amnesty law to address incidents of political violence since 1999. She stated that the government had instructed relevant departments to complete the legal text as quickly as possible under the current state of emergency and submit it to the National Assembly for review, while also calling for maximum cooperation from the legislature. Rodriguez emphasized that this law aims to repair the social wounds caused by political confrontation and extremist behavior, restore the national judicial system to normalcy, and promote reconciliation and coexistence within Venezuelan society.Conflict Update: 1. Russian Ministry of Defense: 18 drones were shot down in various regions of Russia last night. 2. Ukraines three major nuclear power plants face the threat of power outages; external power interruptions could trigger core overheating. 3. Russian attacks damaged the Philip Morris plant in Kharkiv, Ukraine. 4. Ukrainian President Zelensky: Russia is shifting its focus to attacking logistical facilities. Ukraine did not launch any attacks on Russian energy infrastructure on Friday. A week-long suspension of attacks on energy facilities began on Friday. Peace Talks: 1. Ukrainian President Zelensky: No formal ceasefire agreement has been reached between Ukraine and Russia regarding energy targets. 2. Kremlin: Trump personally requested Putin to suspend attacks on Kyiv until February to create favorable conditions for negotiations. 3. US President Trump: I believe we are close to reaching an agreement on Russia and Ukraine. The upcoming US-Russia talks still have an opportunity. Other Updates: 1. The EU is considering replacing the Russian oil price cap with a services ban. 2. The Dutch ruling coalition plans to provide €3 billion annually in military aid to Ukraine. 3. The UK and Germany will host a meeting of the Ukraine Defense Contact Group on February 12. 4. Data from the Central Bank of Ukraine shows that Ukraines current account deficit will reach $31.9 billion in 2025. 5. The Speaker of the Russian Parliament: Legislators insist on using more powerful weapons to achieve objectives in the Ukrainian conflict. 6. Ukrainian President Zelensky: Ukraine will be technically ready to join the EU by 2027.

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.