EUR/USD 1.14355
0.031%
Gold 4174.79
1.240%
Oil 68.721
0.443%
USD/JPY 161.357
0.157%
GBP/USD 1.33523
0.049%
GBP/JPY 215.453
0.220%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 4th - A Reuters survey showed that OPEC crude oil production rebounded sharply in June, increasing by approximately 3.3 million barrels per day to 19.43 million barrels per day, a significant rebound from the more than two-decade low reached in May, but still far below quota levels. This production increase was mainly driven by the resumption of supply from Gulf countries, with Kuwait seeing the largest increase, followed by Iran, Saudi Arabia, and Iraq. Nigeria and Libya also saw slight increases in production. The UAE withdrew from OPEC on May 1st and is no longer included in the statistics. The report noted that the previous war with Iran and the de facto blockade of the Strait of Hormuz had caused supply disruptions, but the subsequent lifting of restrictions on ships at Iranian ports by the United States helped to restore some production. Although OPEC+ had planned to increase production in June, it could not be fully implemented due to the war. Overall, global crude oil supply is recovering, but has not yet returned to normal levels.Iranian Parliament Speaker Ghalibaf: The United States must "accept the established realities in the trade arena."Hang Seng Index futures closed down 0.2% at 23,253 points in overnight trading, a discount of 97 points.On July 4th, Labour politician Andy Burnham stated that if he succeeds Starmer as Prime Minister, he will not dissolve Parliament early and call a new general election. Instead, he will continue to implement Labours campaign promises from the 2024 general election, including maintaining the triple lock on pensions. He also outlined several policy positions: advocating for stronger regulation in the public service sector, even considering nationalization in some industries; supporting further improvements in UK-EU relations; willing to negotiate with countries including Afghanistan to repatriate rejected asylum seekers; supporting electoral reform; ensuring adequate funding for defense investment programs; and explicitly stating continued firm support for Ukraine. If the party nomination proceeds smoothly and without competition, he could become Labour leader in mid-July and subsequently become Prime Minister.July 4th - As of 2:30 PM closing, the Shanghai Gold futures contract rose 0.81%, the Shanghai Silver futures contract rose 1.61%, and the SC crude oil futures contract fell 0.16%.

S&P 500 Price Forecast – Stock Markets Give Up Early Gains

Cory Russell

Dec 29, 2022 14:37


Technical Analysis of the S&P 500

Initially attempting to rise during Wednesday's trading session, the S&P 500 eventually gave up gains and lost momentum due to the thin markets' lack of current interest. The 3800 level underneath should be sustained, but if we decline below that, it would be possible to slide considerably lower, maybe as low as the 3700 level.


At this point, rallies ought to be fading, therefore the 3900 level and the 50-Day EMA can serve as a ceiling from which to resume shorting. When signs of fatigue start to surface, they will be pounced on, and I won't think twice about shorting them. Because of this, I believe that the market will continue to be negative, although it's possible that unreliable money managers may attempt to pad their books towards the end of the year. This is a frequent occurrence since they must at least demonstrate to their customers that they possess the "proper stocks."


It appears like Wall Street will sometimes need a reminder that the Federal Reserve is dead serious, which is an issue that the Federal Reserve itself caused by coddling traders for 14 years, so I believe it's just a matter of time until we continue to go lower. In light of this, I am prepared to short this market gradually during rallies and when it begins to show symptoms of tiredness. However, at this time of year, I am not expecting for large swings, so you must see this through the lens of short-term trading.

Suggestion