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June 19 – Iran is shipping large quantities of oil that were previously blocked by a US blockade, potentially good news for Tehran, which signed a provisional peace agreement with Washington on Wednesday. Shipping data compiled by Bloomberg shows that 11 oil tankers carrying a total of 20 million barrels of crude oil departed from the port of Chabahar in the Gulf of Oman this week. Previously, the US military had blocked these tankers from entering the Indian Ocean, a move aimed at restricting Tehrans access to petrodollars.On June 19, the Iranian Islamic Revolutionary Guard Corps (IRGC) issued an open letter to Irans Supreme Leader Mojtaba Khamenei, stating that the Iranian people and armed forces "firmly support the national leadership." The letter said that the Supreme Leaders recent important speech further strengthened the unity of the Iranian people, boosted the confidence of frontline fighters in maintaining existing gains, and provided important support for the political sphere in safeguarding national interests. The Iranian people and armed forces expect that political efforts will continue the gains made on the battlefield and promote the protection of Irans legitimate rights. The letter emphasized that if any party breaks its promises, makes excessive demands, or harms Irans national interests, the IRGC is prepared to take action on land, sea, air, and other operational domains.European Commission President Ursula von der Leyen: We will be committed to developing new and diversified tools.European Commission President Ursula von der Leyen: We must use the toolbox more actively to defend the EU.European Commission President Ursula von der Leyen: We must prepare for the start of negotiations between Ukraine and Russia.

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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