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According to Iranian state television, Iran and Iraq have signed a comprehensive security agreement.Ukrainian President Zelensky: We will give a clear response to the Russian drone attack on a shopping mall in Ukraine.August 22 – Maritime Piracy Watch reports a resurgence of piracy off the coast of Somalia following two new attacks this week. Meanwhile, two major conflicts in the region continue to distract and deplete naval forces, putting pressure on local maritime security. Last month, the Houthi rebels in Yemen announced a blockade of Saudi ports and attacked several ships, forcing many vessels to avoid the area. At the same time, the war with Iran has disrupted shipping, with dozens of cargo ships attacked in the Persian Gulf and surrounding waters. The report states that two ships were attacked by Somali pirates, further exacerbating concerns about a rise in piracy this year. Between 2008 and 2010, Somali pirates attacked hundreds of ships, forcing some shipowners to circumnavigate the African continent for safety. International Maritime Bureau official Cyrus Modi stated, “Although there is still a naval presence in the region, Somali pirates may have found an opportunity due to the higher priority given to other maritime security threats. They have been effectively contained and combated for over a decade.”The French presidential palace announced that Saudi Arabia and France will sign several cooperation agreements during the Saudi Crown Princes visit, covering areas such as transportation, energy, and health.On August 22, Brazilian President Lula da Silva called US President Donald Trump on Friday, urging him to restart negotiations on US tariffs on Brazil in an effort to ease tensions with Washington ahead of Brazils October elections. In a statement, the Brazilian government said Lula dismissed US accusations of unfair trade practices against Brazil, which led to the imposition of a 25% tariff on many Brazilian goods. During the more than one-hour call, Lula told Trump that the accusations were "baseless." The Brazilian side stated that Trump proposed a meeting between government officials from both countries as soon as possible. This was the first phone call between the two leaders since relations deteriorated again in May.

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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