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Brookfields CEO stated that the company has minimal exposure to software.February 4th - EU member states have reached an agreement on the implementation framework for a €90 billion ($108 billion) loan to Ukraine. EU leaders reached a consensus on the overall plan for the loan last December, which includes a clause requiring that purchases using the loan funds be completed within the EU, unless the equipment can only be obtained from other regions. Cypriot Finance Minister Marques Keravonos, whose country holds the rotating presidency, stated: "Todays agreement demonstrates the EUs continued decisive action in support of Ukraine and its people."1. U.S. domestic crude oil production fell by the largest margin since the week ending January 19, 2024, in the week ending January 30. 2. U.S. EIA distillate fuel oil inventories fell by the largest margin since the week ending February 26, 2021, in the week ending January 30. 3. U.S. domestic crude oil production fell to its lowest level since the week ending November 15, 2024, in the week ending January 30. 4. U.S. EIA strategic petroleum reserves rose to their highest level since the week ending September 30, 2022, in the week ending January 30.The EIA report for U.S. distillate fuel oil production implied demand for the week ending January 30 was 5.8043 million barrels per day, compared to 5.025 million barrels per day in the previous week.The EIAs data for implied demand for U.S. gasoline production in the week ending January 30 was 9.111 million barrels per day, compared to 9.6193 million barrels per day in the previous week.

S&P 500 Price Forecast – Consolidation Continues in the S&P 500 E-mini Contract

Jimmy Khan

Feb 10, 2023 15:30

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Thursday's trading session saw a minor increase in optimistic sentiment for the S&P 500 as the E-mini contract increased once again. Having said that, we do generally continue to coil, and I believe that will likely be the case moving ahead.

Technical Analysis of the S&P 500

As we continue to trade in the same range that we have been in for the last week or so, the S&P 500 E-mini contract has marginally risen during Thursday's trading session. We are now in the middle of earnings season, which is characterized by a lot of noise that will continue to give people problems.


Breaking over the 4200 level would be a really powerful indicator, but I don't see it occurring very quickly since it seems to be a highly resistant level. This puts us in a position where, if we break below this level, we might descend all the way to the downtrend line, where the 50-Day EMA is just about to cross the 200-Day EMA.


The S&P 500 E-mini contract's short-term "floor in the market" is now believed to be that golden cross region, which also happens to be the 4000 level. However, I believe that ultimately you have to see this through the lens of a market that is extremely choppy and unsteady. Anything below there may unleash a tremendous wave of selling. If that's the case, it will be challenging to sled, so you need to be careful with the size of your position. Having said that, it's perhaps important to note that the recent highs have been steadily declining. Something is likely going to move swiftly and soon.

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