EUR/USD 1.17634
0.234%
Gold 3648.69
0.125%
Oil 62.908
1.036%
USD/JPY 147.319
-0.177%
GBP/USD 1.36093
0.355%
GBP/JPY 200.496
0.176%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
A Ukrainian drone strike has damaged a key unit at Russias Kirish oil refinery, two sources said, adding that maintenance and repairs at the refinery will take about a month.On September 15th, New York States factory activity index fell sharply in September, impacted by weak new orders and shipments, reflecting significant weakness in demand. The New York Federal Reserves manufacturing index for September came in at -8.7, with a reading below zero indicating contraction. Over the past four months, the US manufacturing sector has been under pressure and employment has declined, primarily due to ongoing uncertainty stemming from President Trumps erratic trade policies and immigration restrictions. The Institute for Supply Managements manufacturing index contracted for the sixth consecutive month in August. The report noted that while the overall six-month outlook for factory activity in New York State is slightly better than current conditions, "optimism remains subdued."IAEA Director General Grossi: The agreement with Iran stipulates the necessary measures that must be implemented.Snap (SNAP.N) fell 1.2% in premarket trading.On September 15th, Fute Technology stated in a survey conducted by a specific target audience that it has established stable partnerships with several leading vehicle manufacturers, including GAC, NIO, Xiaomi, Leapmotor, Xpeng, and Changan. The companys key vehicle offerings include popular and flagship models such as the NIO ES/ET series, Ledao, and Firefly, the Xiaomi SU7/YU7, and the GAC Aion series.

S&P 500 Price Forecast – Stock Markets Quiet Ahead of FOMC Meeting Minutes

Skylar Shaw

Nov 24, 2022 16:36


Technical Analysis of the S&P 500

Prior to the FOMC Meeting Minutes being released late on Wednesday and the Thanksgiving break on Thursday, the S&P 500 E-mini contract has been rather quiet. The underlying index will be closed, but there will be some electronic trading on the futures markets, but it will be considerably limited. It is tough to conceive that this market will genuinely take off unless the FOMC Meeting Minutes contain something unusually dovish and it sits just over the 200-Day EMA. Even if it does, resistance can also appear in the form of the downtrend line just above it.


The 3900 level, which was formerly resistance, is now serving as support beneath. The 50-Day EMA could be cut if we break down below that level, which would be a highly unfavorable development. Despite the trendline above, there is a case to be made for a slight rally because at this time of year, money managers frequently enter the market and begin purchasing securities to boost prices because they must disclose to their clients what they own and whether or not they made any gains for the year.


Having said that, there is a small amount of herd mentality surrounding the "Santa Claus rally." It doesn't necessarily mean that it will stick and it doesn't necessarily imply that it must occur, but history tends to support that kind of action. However, I do believe that ultimately we will fall due of the excessive number of economic obstacles.

Suggestion