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On April 16, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A Reuters reporter asked, "US President Trump said yesterday that he believes China will not stop buying Iranian oil. He also said he would impose sanctions on countries that buy Iranian oil. What is Chinas comment on this?" Guo Jiakun stated that China has consistently opposed illegal unilateral sanctions that have no basis in international law and are not authorized by the UN Security Council.On April 16th, Suren Thiru, an economist at the Institute of Chartered Accountants, stated that the unexpectedly strong growth in the UK in February would soon be overshadowed by the impact of the war with Iran. GDP grew by 0.5% that month, higher than the expected 0.2%. He said, "Given that the unexpectedly strong growth in February has been far outpaced by new energy and supply chain shocks, these figures are unlikely to alleviate stagflation concerns." This is expected to affect investment and consumer spending over the next year, thus dampening economic growth. Thiru indicated that the Bank of England is likely to keep interest rates unchanged for the time being, as the squeeze on growth will suppress inflation.The Bank of Japan announced that it will hold a meeting of bond market participants from May 21 to 22.April 16th - According to the BBC, Bank of England Governor Bailey stated that the central bank is "not in a hurry" to make a decision on interest rate hikes in the face of the energy price shock caused by the war with Iran. He pointed out that rising oil and gas prices will certainly affect prices, but other factors make interest rate decisions "very, very difficult." Bailey said, "We are not in a hurry to make judgments on these things because there is a lot of uncertainty in this area, not only about how things will develop, but also how it will be transmitted to the UK economy." The IMF lowered its economic growth forecast on Tuesday, warning that if the war escalates and oil prices remain above $100 until 2027, the global economy may face the risk of recession, with the UK receiving the largest downward revision among large, wealthy economies.Ukrainian President Zelensky: Aid supplies to Ukraine should be delivered on time.

S&P 500 Does Little

Skylar Shaw

Jul 29, 2022 15:21

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However, traders are trying to convince themselves that the Federal Reserve will stop hiking interest rates.

Technical Analysis of the S&P 500

We've gone back and forth to demonstrate how confused the market is right now and how it has no idea what to do. We're still observing a lot of confusion and are currently seated just above the 4000 level. After all, the GDP figures were dreadful and the future is not promising. People are also trying to persuade themselves that the Federal Reserve won't increase interest rates as quickly as previously anticipated.


As a result, the longer-term outlook for this market is still highly negative. However, if we can break above the 4200 level, it's possible that the trend will shift. However, there is still much work to be done before that can happen. You must pay special attention to whether or not we have any follow-through because the size of the candlestick from the prior course session is quite bullish.


The market would probably decline significantly if we were to reverse course and remove the 50 Day EMA below. Given the high level of uncertainty, I believe the only thing you can probably count on is a lot of volatility. Additionally, since the bond markets typically have a significant impact on the stock markets, you might want to keep an eye on them. If everything remained the same, this market could be extremely risky.

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