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On July 30th, Samsung Electronics semiconductor division reported a more than 250-fold increase in profits, driven by the lucrative reliance on memory in the field of artificial intelligence. The divisions second-quarter operating profit reached 89.2 trillion won (approximately $62 billion), exceeding analysts average expectation of 79.3 trillion won. The groups overall net profit was 71.3 trillion won, also surpassing market expectations. The profitability of the worlds largest memory chip manufacturer is under close scrutiny, as investors seek evidence to justify the massive investments and valuations driven by the AI boom. Global semiconductor stocks have soared to record highs this year, but also face increasingly fierce competition and concerns about overcapacity. Investors are increasingly questioning the commercial viability of the massive investments pouring into the industry.Samsung Electronics: Dividend of 374 won per share.Polish Armed Forces: Poland has scrambled fighter jets for protection in response to Russian airstrikes on Ukraine.U.S. Central Command: U.S. forces launched strikes against Iran at 8 p.m. Eastern Time (8 a.m. Beijing Time) today. These strikes are a strong response to yesterdays Iranian attempt to attack U.S. forces in the Middle East.July 30th - According to institutional analysis, the equal-weighted Nasdaq 100 index has lagged behind the equal-weighted S&P 500 index by 6.8 percentage points so far in July, potentially marking its worst monthly relative performance on record. Previously, equal-weighted technology stocks had outperformed the broader market for four consecutive months. Never in the past 20 years has the average performance of technology stocks lagged behind the S&P 500 by more than 5 percentage points. Meanwhile, the equal-weighted S&P 500 index has risen 2.2% so far this month, near historical highs, while the equal-weighted Nasdaq 100 index has fallen 4.6%, near its lowest level since mid-May. Investors are taking profits on technology stocks at a record pace.

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.

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