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June 17 – The expansion plan for the comprehensive reform pilot program of offshore trade and financial services in the Lingang New Area was officially released in Shanghai today. Based on the successful experience of the previous pilot program, the Peoples Bank of China approved a comprehensive expansion and upgrade of the pilot program. The scope of pilot business has been expanded from a single scenario of offshore trade to all scenarios of offshore business. This supports pilot enterprises in deeply integrating into the global supply chain and industrial chain, participating in various global production, sales, and service activities at a deeper level and in a wider range of fields. It also more precisely supports the strategic positioning of the Lingang New Area to "coordinate the development of onshore and offshore businesses," enabling Shanghais offshore financial services to serve the forefront of the national economy and cutting-edge industries. Accordingly, the pilot programs name has been upgraded from "Comprehensive Reform Pilot Program for Offshore Trade and Financial Services in the Lingang New Area" to "Comprehensive Reform Pilot Program for Offshore Business Financial Services in the Lingang New Area."French President Macron: It is very important that Iran, Hezbollah in Lebanon, and Israel do not resume the conflict.EU officials: The EU is not a mediator, but supports Ukraines efforts to achieve a just and lasting peace.EU officials: The EU has interests to defend under any circumstances in the future, therefore establishing diplomatic channels with Russia is crucial.French President Macron: This G7 summit demonstrates a genuine shift in the US attitude toward Ukraine.

S&P 500 Price Forecast – Stock Markets Threatening to Move Higher

Florala Chen

Oct 26, 2022 16:08

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Technical Analysis of the S&P 500

Tuesday's session saw a very minor increase in the price of the S&P 500 E-mini contract as we approached the 50-Day EMA. The market seems to be attempting some kind of breakout as a result, but ultimately I believe this is just a "fade the rally" type of scenario since we are in the middle of earnings season and, quite frankly, most guidance is likely to be at best subpar. The Federal Reserve may reiterate the need to tighten monetary policy in the coming days, but Wall Street gamblers may attempt to push prices higher in the lead-up to the next Federal Reserve meeting in November.


In any case, I'm watching for symptoms of weariness so I can start shorting them, but I haven't exactly seen them. Although I still believe there is significant resistance around the 3900 level and again at the 200-Day EMA, which is slightly over the 4000 level, the market may break above the 50-Day EMA.


I'll be looking to short this market if the daily candlestick moves much to the upside, but for the time being, I believe that trading in this kind of very volatile market is only challenging during the bear market rally.


I'll keep seeing it through that lens because it wouldn't take much to cross the wires and divide the market once again. The greatest method to trade your market is to just wait for an opportunity, since you do sometimes see significant rallies. At the moment, I'm doing just that.

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