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On April 18, it was reported that on April 17, Ding Xuexiang, Special Representative of President Xi Jinping, Member of the Standing Committee of the Political Bureau of the CPC Central Committee, and Vice Premier of the State Council, and Gurbanguly Berdimuhamedov, Leader of the Nation of Turkmenistan and Chairman of the Council of Peoples Council, jointly attended the groundbreaking ceremony for the fourth phase of the Renaissance Gas Field project in Maly Region, Turkmenistan. Ding Xuexiang emphasized that the fourth phase of the Renaissance Gas Field project carries the earnest expectations of the top leaders of both countries and embodies the common aspirations of the people of both nations. He expressed hope that the relevant departments and enterprises of both sides would meticulously organize and scientifically construct the project, ensuring its solid and orderly progress. Ding Xuexiang stated that China is willing to work with Turkmenistan to take the fourth phase of the Renaissance Gas Field and other major projects as a new starting point to continuously deepen pragmatic cooperation in various fields, promote the development of both countries and regional prosperity and stability, and jointly build a closer China-Turkmenistan community with a shared future. Ding Xuexiang and Gurbanguly Berdimuhamedov jointly visited an oil and gas equipment exhibition, gave instructions via video link to commence drilling operations on-site, and held a groundbreaking ceremony.The Federal Reserve accepted a total of $137 million from four counterparties in its fixed-rate reverse repurchase operations.On April 18, Iranian Foreign Ministry spokesman Baghae stated on the 17th that the US-imposed maritime blockade against Iran is considered a violation of the ceasefire agreement, and Iran will take necessary measures in response. Baghae also emphasized that Iran is the "guardian" of the Strait of Hormuz, and if necessary, Iran will take uncompromising action to earnestly safeguard the interests and rights of its people.The total number of natural gas drilling rigs in the United States for the week ending April 17 was 125, compared with 127 in the previous week.The total number of oil rigs in the United States for the week ending April 17 was 410, compared with 411 in the previous week.

S&P 500 Price Forecast – Stock Markets Continue to Struggle

Alice Wang

Jul 15, 2022 15:54

Technical Analysis of the S&P 500

Due to the ongoing pessimism, the S&P 500 has decreased somewhat during Thursday's trading session. At this time, it seems as if the market is prepared to go further, maybe attempting to approach the most recent lows at the 3637 level. In the end, this market should continue to see a lot of agitated behavior. I believe that fading rallies will remain a significant problem. The 50 Day EMA is now hanging in the general vicinity of the 3950 level, which serves as the ceiling at this time.


Ultimately, your indication to become engaged will be when you start to feel exhausted after brief rallies. Given the lack of global growth and the fact that inflation is still a problem, I do believe the downward trend will continue. Additionally, the Federal Reserve is rapidly tightening monetary policy, and as a result, a 100 basis point interest rate rise is being predicted. Due to the fact that the S&P 500 contains so many significant exporters, it is extremely probable that we will continue to see significant problems with the global economy.


In the end, a running season is approaching, so there could be some "hopium" waiting to happen, but after hearing J.P. Morgan declare, "We have never seen an economic scenario like this," during its results presentation, I don't think this earnings season will be cause for celebration. After a rally, I will suppress any indications of tiredness.

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