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July 3rd - KB Securities analysts Jeff Kim and others stated that SK Hynix is expected to benefit from accelerating AI infrastructure investment in the second half of the year, as well as a memory chip supply shortage projected to last until the end of 2028. The analysts stated, "Driven by the continued expansion of AI-related investments, the upward trend in SK Hynixs profits and stock price is far from over." KB Securities predicts that global AI investment will reach $800 billion in 2026, $1.1 trillion in 2027, and $1.5 trillion in 2028. KB has raised its 2026 operating profit forecast for SK Hynix by 3.6% to 290 trillion won.On July 3, European Central Bank President Christine Lagarde hinted on July 2 that she did not rule out the possibility of resigning her current post and running in next years French presidential election. In an interview that day, when asked if she would consider leaving office early if the eurozone inflation situation stabilized, Lagarde replied, "Possibly. I think there should be a European voice in the French presidential election." She also commented on Frances relationship with the EU, stating that if a presidential candidate raises the idea of "reducing Frances involvement in the EU" during election debates, someone needs to explain to voters that this path is not easy. "France will have to make bold decisions on thorny issues," she said, adding that voters expect to be told the truth and offered solutions, and "presidential candidates have a responsibility to examine these issues and propose solutions." When asked whether she would support a candidate or run herself, Lagarde initially answered "Im considering it," but then quickly corrected herself, saying she was joking.Indias final composite PMI for June was 57.1, compared to 57.4 in the previous month.On July 3rd, Faraday Future (FFIE.O) issued a statement clarifying that it has noticed false information circulating on some online platforms claiming that FFs Los Angeles headquarters is deserted. The statement clarified that FFs Hanford factory has not closed, and the relocation of its global headquarters to El Segundo, Los Angeles, is a normal process. The location of the video circulating online is FFs former headquarters in Gardena, which ceased to be used by FF at the end of March this year.The China Earthquake Networks Center officially determined that a magnitude 3.0 earthquake occurred at 12:44 on July 3 in Haixi Prefecture, Qinghai Province (37.86 degrees north latitude, 95.40 degrees east longitude), with a focal depth of 10 kilometers.

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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