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May 19th Futures News: Economies.com analysts latest view: Spot silver prices fell in recent intraday trading after failing to break through the $78.35 resistance level, which remained firm, causing prices to retreat again. This movement occurred against the backdrop of a clear corrective bearish wave dominating the market in the short term. Meanwhile, the 50-day moving average (EMA) continues to exert negative dynamic pressure on prices, with spot silver prices consistently below it, further reducing the likelihood of a full rebound in the short term. Furthermore, the Relative Strength Index (RSI) has begun to show a negative crossover after the price action became extremely overbought, indicating a bearish divergence signal, which increases the probability of continued selling pressure and further declines.On May 19th, the Sino-European jointly developed Solar Wind-Magnetospheric Interaction Panoramic Imaging Satellite (SMILE) was launched into space today from the Kourou Space Centre in French Guiana by a Vega-C rocket. The satellite successfully entered its predetermined orbit, is in normal condition, and its solar panels have deployed, marking a complete success for the launch mission. The SMILE mission is the first comprehensive and in-depth space science exploration mission jointly undertaken by the Chinese Academy of Sciences (CAS) and the European Space Agency (ESA), and it is also the final project of the CAS Space Science (Phase II) Strategic Priority Research Program.On May 19th, two economists from Barclays FICC research division stated in a research report that Japans stronger-than-expected first-quarter GDP may support a June interest rate hike by the Bank of Japan. Preliminary data released earlier showed that Japans real GDP grew at an annualized rate of 2.1% in the first quarter, exceeding Barclays and market consensus expectations. Barclays raised its GDP growth forecast for Japan in fiscal year 2026 from 0.7% to 0.9%. The economists maintained their baseline scenario, predicting a June rate hike by the Bank of Japan, and continued to expect further rate hikes in October 2026 and April 2027, ultimately reaching a rate of 1.5%.On May 19th, HSBC economists Janet Henry and Besson Ellis noted in a report that even if the US and Iran reach a peace agreement in the short term, more central banks are expected to raise policy rates. They stated that even if the Strait of Hormuz reopens quickly, the risk of supply shocks and their impact on global inflation and growth will persist. Current rate hikes are more about credibility. The central banks of Australia and Norway were already facing inflationary pressures before the conflict and hope that the May rate hike will be the last. The European Central Bank and the Bank of England may begin raising rates in June or July, and if the Federal Reserve raises rates, more emerging market economies may tighten policy. HSBC expects the Philippines to raise rates further and anticipates India and Indonesia to raise rates in the second half of the year.HSBC raises its target price for Micron Technology (MU.O) from $750 to $1,100.

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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