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August 27 - The China Earthquake Networks Center officially measured a 5.3-magnitude earthquake in Colombia (6.75 degrees north latitude, 73.08 degrees west longitude) at 00:45 on August 27, with a focal depth of 150 kilometers.On August 27th, Anthropic reported that it has agreed to pay Nscale $45 billion over the next six years to lease approximately 460 megawatts of AI computing power from Nscales Monarch data center in West Virginia. According to sources, Nscale will use NVIDIAs (NVDA.O.) Vera Rubin chips, with deployment expected by the end of next year. The entire Monarch campus has a planned capacity of approximately 1.35 gigawatts and a total investment of approximately $71 billion, with about $47 billion allocated to AI chips. The remaining buildings will begin providing computing power in 2028. The project was originally planned to be leased by Microsoft, but Microsoft withdrew this summer, and Anthropic subsequently became the tenant. In recent months, Anthropic has also reached computing power agreements with Fluidstack, Volta Infra, and SpaceX for $50 billion, $10 billion, and $45 billion respectively, further securing computing resources ahead of its IPO.The Russian Ministry of Defense stated that Russian air defense systems shot down 51 Ukrainian drones in a single day over multiple regions of Russia and the Black Sea.On August 27, US President Trump confirmed on the 26th that CIA Director Ratcliffe had recently visited Russia, saying the visit "may have some results," but did not elaborate further. In a radio interview that day, Trump called Ratcliffes visit "somewhat routine." He then hinted that Ratcliffes visit was related to the Russia-Ukraine conflict, saying, "We are working to bring an end to the war, and both sides want to see it end."On August 27th, IDC reported that Apples (AAPL.O) first foldable iPhone, launching in September, is expected to ship over 10 million units in its first year, despite a potential price tag of $2,500, driving renewed growth in the foldable phone market. IDC projects global foldable phone shipments will grow by 12.6% this year and 18% next year, with Apple accounting for 40% of global foldable phone shipments by 2027. Meanwhile, due to rising prices and supply constraints of components such as memory chips, IDC predicts a record 16.7% contraction in the global smartphone market this year, stating that "the era of cheap smartphones is over."

S&P 500 Price Forecast – Markets Grind Away as We Exit 2022

Alice Wang

Dec 30, 2022 16:07

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Technical Analysis of the S&P 500

The S&P 500 hasn't changed much throughout Thursday's trading session as we continue to just hover over the 3800 mark. There's no real incentive to be too clever with this and attempt to put on large holdings on the way out the door since this market will be suffering from a lack of liquidity.


Because individuals will be waiting for the jobs figure at the end of the next week before investing money, it's extremely likely that the upcoming few sessions will be very quiet. That is the second important core reason to participate, but obviously not everyone will immediately return to their desks on January 2.


Given that the market seems to favor the downside, I am going to be fading short-term rallies as soon as they start to show indications of weariness in order to profit from any potential swings. I believe that if we can go below the 3800 level, we may reach the 3600 level. On the upside, the 200-Day EMA and the downward moving line are both located close to the 4000 level.


If we can get over all of that, we may be able to climb higher, but I believe it would need a significant mental adjustment. To be very honest, I believe that current market is more of a "fade the rally" sort of scenario. Since we have been descending for some time, I don't anticipate any change in the near future.