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The Dow Jones Industrial Average closed down 506.51 points, or 0.97%, at 51,493.16 on Wednesday, June 17; the S&P 500 closed down 91.22 points, or 1.21%, at 7,420.13; and the Nasdaq Composite closed down 354.69 points, or 1.34%, at 26,021.66 on Wednesday, June 17.June 18th - On Wednesday, following a hawkish Federal Reserve meeting, the three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 0.97%, the S&P 500 fell 1.2%, and the Nasdaq Composite fell 1.3%. SpaceX (SPCX.O) closed down 5%, Nvidia (NVDA.O) fell 1%, and Western Digital (WDC.O) rose 4%. The Nasdaq China Golden Dragon Index closed down 1.1%, and Li Auto (LI.O) fell 3%.Apple (AAPL.O) is preparing to release the second-generation iPhone Air in the spring of 2027. The iPhone Air prototype will feature a second rear camera and an upgraded battery.June 18th – Warshs first press conference as Federal Reserve Chairman officially concluded, during which he previewed a series of reforms to be implemented at the Fed. One significant change is the establishment of several special working groups to explore more open data collection methods and study how to improve the Feds existing statistical indicator system. During the press conference, Warsh repeatedly emphasized that he would not provide any forward guidance and avoided all questions regarding the future path of interest rates. Furthermore, he did not submit his personal interest rate forecasts in this dot plot and stated that he would not comment on any price fluctuations that occurred in the market during the press conference. Overall, the core message conveyed by Warshs first press conference was: reduce policy guidance to the market, downplay pre-commitments to the interest rate path, and focus more on reforming the Feds systems, data structures, and communication framework.The market has fully priced in two Fed rate hikes by the end of the first quarter of 2027.

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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