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On September 21, Fox News reported that when White House National Economic Council Director Hassett was asked in an interview on Sunday about the specific timeline for Trumps earlier promise of a "reverse rocket drop" in oil prices, he did not provide a timeline, only stating that the US government had taken measures to ensure that the impact on energy prices was "far less than expected." Hassett stated that after the escalation of the conflict between Iran and the Houthis, the US has ensured the transport of oil through the Strait of Hormuz through naval escorts, with "billions of barrels of oil already passing through the strait" to minimize the impact of supply disruptions on oil prices. He indicated that initially, the market expected oil prices to rise to $150 or $200 per barrel, but this did not occur. Hassett also stated that "President Trump will decide when it ends," and that if the US did not take action, it could have serious consequences for "the global economy and human civilization."On September 21, Ukrainian President Volodymyr Zelenskyy stated that he spoke with US President Donald Trump that day, and the two agreed to meet in New York. Zelenskyy said that this meeting "could bring about important changes," and that the diplomatic process is currently underway.On September 21, the Wall Street Journal reported that the Trump administration is preparing broader sanctions against the International Criminal Court (ICC) to expand its previous pressure campaign against the institution. According to documents, the new measures could prohibit most transactions with the ICC after a six- to seven-month grace period and may restrict its use of the US dollar, thus affecting its participation in the global financial system. The report, citing officials, stated that the final decision and announcement date are yet to be determined, but could be announced as early as this week during the UN General Assembly or in the following days. A State Department spokesperson did not disclose specific sanctions but stated that Secretary of State Marco Rubio believes the ICC poses a threat to US sovereignty. Previously, the US has sanctioned several ICC officials, including former Chief Prosecutor Karim Khan, ICC President Tomoko Akane, and several judges and prosecutors. The proposed measures would expand from targeting individuals to targeting transactions with the court as a whole. The deterioration in US relations with the ICC is linked to the courts 2024 arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Israeli Defense Minister Yoav Galant.On September 21, U.S. President Donald Trump will meet with New York City Mayor Nancy Mamdani at Gracie Mansion, the official residence of the New York City mayor, on Monday. Mamdanis office stated that the talks will focus on issues affecting New York City and its residents, but did not release a specific agenda or meeting arrangements. White House officials confirmed the meeting plans but did not provide further details. This will be Mamdanis third face-to-face meeting with Trump since being elected mayor.According to the Wall Street Journal, the Trump administration is preparing to impose sanctions on the International Criminal Court.

US Stock Market Continues to Stretch

Alice Wang

Sep 13, 2022 14:23

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Overnight, the S&P 500 E-mini contract gained some ground and crossed over the 50-Day EMA. But now we're moving into a zone that may be problematic.

Technical Analysis of the S&P 500

Overnight, the S&P 500 E-mini contract grew to the 4100 mark. Having said that, it is really important to pay attention to as we go into a region that can provide some problems. After all, there is often a lot of noise when you are situated between the 50-Day EMA and the 200-Day EMA. Additionally, with the release of the CPI statistics on Tuesday, a little amount of the market's overbought reality will start to emerge.


Not that we couldn't go higher; I'm simply watching for symptoms of tiredness so I can get engaged on the downhill. You must pay particular attention to the fact that this is more likely than not going to be a bear market bounce since none of the elements that had previously created so many problems have vanished. These may be pretty fascinating and violent, but I believe that there is enough of supply closer to the 200-Day EMA, which is about 4165.


As we are still in the thick of things and the economic picture is not promising, I will be showing diminishing indications of tiredness. The S&P 500 will also have to contend with the Federal Reserve's continued tightening of monetary policy, despite some people's refusal to accept this. For a time, it will be hard to make comparisons, and a recession may last for many quarters.

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