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On July 1st, European Central Bank (ECB) Vice President Aleksandar Vujic stated that the bank will likely await further data, such as the latest macroeconomic forecasts to be released at its September meeting, before deciding on its next interest rate move. Speaking during the ECB meeting in Portugal, he said, "We must wait for the data to come out until the July meeting; then in September, we will have new forecast data and make a decision based on the further data received at that time." Vujic pointed out that the central bank will not pre-commit to a specific interest rate path. He noted that the June inflation data so far has not yielded any surprises. The ECB last raised interest rates at its June meeting, when it increased them by 25 basis points.According to reports, the Iranian and US negotiating teams did not hold face-to-face talks, but instead held indirect talks in Qatar through mediators on a rotating basis.ECB Governing Council member Kochel: The threat of inflation has decreased, but it has not been completely contained. The next decision will be to raise interest rates or keep them unchanged.July 1st - Monex Europe analysts stated that the euro faces further downside risk if Wednesdays Eurozone inflation data falls short of expectations and European Central Bank President Christine Lagarde cools expectations for further rate hikes. In a report, they stated that inflation data is likely to be weaker than anticipated, given that data from Germany, France, and Italy came in weaker than expected. They suggested this could reinforce the view that the ECB will "stop there" after last months rate hike. Lagarde may also confirm this view at the ECB forum in Portugal on Wednesday.ECB Governing Council member Nagel: The rise in German energy prices has produced almost no second-round effect.

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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