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On May 20th, according to Irans Tasnim News Agency, Iranian military spokesman Mohammad Akraminia emphasized the armys state of readiness in a speech on Tuesday. He stated that the army has treated the "ceasefire period" as a "wartime period" and has used this opportunity to enhance its combat capabilities. Regarding hostile forces, the spokesman stated that Iran will never be besieged or defeated. He warned that if the enemy makes another foolish move and falls into the Jewish trap again, launching another invasion of Iran, then the country will open new fronts to confront them through new means and methods. At the same time, he emphasized the Iranian armed forces control of the Strait of Hormuz, stating that the situation in this strategic waterway cannot return to its previous state. He said, "The only way out for the enemy is to respect the Iranian nation and respect Irans legitimate rights."On May 20th, Cornwall Insights, a UK-based energy consultancy, released a report on May 19th forecasting household energy price ceilings for July to September 2026. The report stated that rising energy prices due to the Middle East conflict could increase the annual energy expenditure ceiling for UK households by 13%. According to the final forecast, a UK household using both gas and electricity could see its annual energy bill reach as high as £1,850 (approximately US$1.339 per pound), up from a previous forecast of £1,641. The report points out that the main reason for the energy price increase is the sharp rise in global energy prices following the outbreak of the Middle East conflict. Although the temporary ceasefire has somewhat mitigated market volatility, prices remain high. The report predicts that even if the conflict ends immediately, the damage to infrastructure and supply chain disruptions will have a lasting impact, making it difficult for the UK household energy cost ceiling to fall back to April levels this autumn.On May 20th, both WTI and Brent crude oil prices fell by more than 2% on Wednesday, as US President Trump reiterated that the war with Iran would soon end. However, investors remained cautious about the outcome of the peace talks due to continued supply disruptions in the Middle East. Emril Jamil, senior oil research analyst at the London Stock Exchange Group, said that benchmark oil prices softened due to the possibility of an agreement as the market weighed the geopolitical situation. However, even if an agreement is reached, oil prices may still have some room to rise, as supply is unlikely to immediately return to pre-war levels. Toshitaka Tazawa, an analyst at Fujitomi Securities, said that investors are closely watching whether the US and Iran can truly find common ground and reach a peace agreement, given the possibility of another US strike against Iran and the fact that even if a peace agreement is reached, crude oil supply will not quickly return to pre-war levels, oil prices are likely to remain high.WHO Director-General: A U.S. citizen has been diagnosed with Ebola.WHO Director-General: The committee unanimously agreed that the Ebola outbreak constitutes a Public Health Emergency of International Concern, but not a pandemic.

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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