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Market news: Samsung SDI has signed a 1.5 trillion won energy storage system battery agreement with a US company.March 16th - As soaring oil prices fueled investor concerns about inflation and economic growth risks, the U.S. Treasury market has erased all of its year-to-date gains. A Bloomberg U.S. Treasury performance indicator has turned negative year-to-date after falling 1.7% since the end of February. Stagflation fears have pushed up yields, forcing Wall Street to lower its expectations for U.S. interest rate cuts over the next year. Morgan Stanley strategist Bradley Tian and others stated, "Energy-driven inflation and policy uncertainty continue to put pressure on long-term U.S. Treasuries." Bonds in the U.S., Japan, and Australia have all fallen, and a global bond index has also wiped out its year-to-date gains. Bob Savage, head of macro strategy at BNY Mellon, said, "Geopolitical uncertainty and increased cross-asset volatility are likely to persist in the near term until markets develop confidence that the conflict with Iran is stabilizing."According to the Wall Street Journal, the CEOs of ExxonMobil, Chevron, and ConocoPhillips warned US President Trumps officials that a war with Iran disrupting the Strait of Hormuz would exacerbate the energy crisis.According to the Wall Street Journal, the oil industry warns that the energy crisis caused by the Trump administration is likely to worsen further.On March 16, the Peoples Bank of China (PBOC) announced that it will conduct 500 billion yuan of outright reverse repurchase operations today (March 16) through a fixed-quantity, interest rate bidding process with multiple price levels, for a term of six months (182 days). Since 600 billion yuan of six-month outright reverse repurchase agreements mature in March, this operation by the PBOC means that the amount of six-month outright reverse repurchase agreements renewed this month has been reduced by 100 billion yuan.

S&P 500 Prices Forecast – Stock Markets Pull Back on Thursday

Alice Wang

Nov 18, 2022 17:27


Technical Analysis of the S&P 500

The S&P 500 E-mini contract experienced a significant decline during Thursday's trading session, approaching the 3900 mark. Considering that the 200-Day EMA has also provided some resistance, it's important to note that our pullback occurred exactly where you would anticipate it to. On the other side, it opens the door to a move to the 4150 level if we turn around and remove the top of the shooting star from Tuesday.


The market is likely to go in the direction of the 50-Day EMA and possibly even the 3800 level if we remove the 3900 level below. In the end, this market will suffer as long as the VIX remains in a very choppy range, resulting in, to put it mildly, loud behavior. The size of the candlestick does indicate that there might be some follow-through, so if we do drop below the 3900 mark, I'll be looking to start selling again.


However, given the choppy nature of volatility, it's possible that there will be some noise. This is especially true given that the markets are oscillating between the possibility of the Federal Reserve loosening or tightening monetary policy, since everyone seems to have a different take on the matter. A recession is another issue we need to be concerned about because it is just a matter of time until it enters the scene as well. How we proceed after 3900 will be crucial.

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