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The World Bank will abandon its previous target of allocating 45% of its lending resources to projects with climate-synergistic benefits. It will extend its Climate Change Action Plan, but simultaneously scrap the previous 35% climate-synergistic lending target. The Climate Change Action Plan helps to better embed "smart development" into the needs and priorities of client countries.Iranian President: The relevant "memorandum of understanding" is a bilateral matter, and if the US abides by the terms of the agreement, Iran will also fulfill its own obligations.Sources say Comcast may build data centers to capitalize on the growth of artificial intelligence.The Dow Jones Industrial Average rose 305.97 points, or 0.59%, to close at 52,182.08 on Monday, June 29; the S&P 500 rose 86.34 points, or 1.17%, to close at 7,440.36; and the Nasdaq Composite rose 522.53 points, or 2.07%, to close at 25,820.14.On June 30th, Paul Ziana, head of technical research at Bank of America, stated that investors should hedge against further rallies in the S&P 500 and prepare for a potential "three-wave correction" in the coming months. Ziana wrote that the S&P 500 has risen nearly 17% since its March lows, but the rally has shown signs of fatigue since the benchmark index hit its recent peak on June 2nd. He indicated that the S&P 500 could fall to 6850 points, a drop of approximately 7.6% from current levels. Ziana stated, "The post-Iran ceasefire rally is becoming increasingly volatile as the risk of a correction accumulates." He added that price action appears "overstretched" and momentum is deteriorating, therefore a "defensive stance" should be adopted between July and September.

S&P 500 Weekly Forecast – Stock Markets Threaten Breakout

Alice Wang

Nov 28, 2022 14:24

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Weekly Technical Analysis for the S&P 500

Throughout the trading week, the S&P 500 E-mini contract has climbed a little to test the 50-Week EMA. 


Although the previous week's candlestick indicates that there is considerable resistance just above, it is highly doubtful that things will get any easier from here on out. 


After all, a lot will depend on the jobs report that will be released on Friday as people try to predict what the Federal Reserve will do next. Wall Street has recently been anticipating a slowdown in interest rate increases, but the truth is that they will continue to remain tight for a considerable amount of time.


When examining the chart, you need also keep in mind that Thursday and Friday would have seen, to put it mildly, very little trade, so you can only infer so much from the candlestick. As we wait for the Federal Reserve statement in December, the course of the next few sessions will almost probably define where we go for the following few weeks.


Although I don't believe the market is about to be given the "all clear," there may be a chance for the mythical "Santa Claus rally" at this time, so you should be extremely cautious about the size of your positions. 


Money managers will then exert every effort to begin acquiring assets that will allow them to appear to have performed better than they actually did at the end of the year. With this, we might obtain that tiny bomb, but I have a feeling the merchants will be back in no time.

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