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On May 28, Iranian Supreme Leader Mojtaba Khamenei said in a statement that the United States and Israel launched a war against Iran, exerted economic pressure, carried out a propaganda offensive, and imposed a political siege in order to "create division, disintegrate Iran, make up for military defeats, and bring the country to its knees."The European Central Bank will release the minutes of its April monetary policy meeting in ten minutes.On May 28th, the State Council issued the "15th Five-Year Plan for Urban Renewal." The plan proposes exploring effective measures to support the independent renewal and reconstruction of old urban housing through financial means. It also aims to actively attract private capital participation. The plan promotes the issuance of infrastructure real estate investment trusts (REITs) and asset securitization products for eligible urban renewal projects. It supports eligible urban renewal enterprises in issuing corporate bonds and medium-term notes. Following the principle of "whoever benefits, invests," the plan emphasizes fully leveraging market mechanisms to build a reasonable cost-sharing mechanism among the government, the market, and residents. It also standardizes the implementation of new mechanisms for public-private partnerships and encourages private enterprises to actively participate in the construction and operation of urban infrastructure. Finally, it calls for the steady and prudent advancement of public utility pricing reforms.The Ukrainian Presidential Office announced that Sweden will purchase up to 20 Griffin E/F fighter jets for Kyiv for €2.5 billion.On May 28th, the State Council issued the "15th Five-Year Plan for Urban Renewal." The plan proposes to promote smarter and more refined urban governance. It calls for advancing the digital transformation of the entire city, building a City Information Modeling (CIM) platform, and creating a unified, data-integrated, and highly collaborative digital foundation for the city. It also aims to improve the CIM basic database and standards system, and enrich and expand the application scenarios of "CIM+" in urban renewal. Furthermore, it promotes the coding of buildings and municipal facilities, and establishes a national database of basic information on buildings and municipal facilities. The plan also promotes the use of blockchain technology in housing transactions and property registration. Finally, it aims to improve the national, provincial, and city-level three-tiered urban operation management and service platform system, promoting unified management of urban operations through a single network.

S&P 500 Weekly Price Forecast – Stock Markets Continue to Look Threatened

Steven Zhao

Oct 08, 2022 14:31

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Weekly Technical Analysis for the S&P 500

The S&P 500 attempted to rise during the week, but it gave up a significant portion of the gain as we ultimately formed an inverted hammer. It goes without saying that the inverted hammer, which is right below the 200-Week in May, merits notice as well. The 3700 level was a previously supported location, which is maybe even more significant, so it would make sense that it would have a lot of inherent resistance.


The week's inverted hammer shape does indicate that we are prepared to fall lower. It is conceivable that we would seek for the 3500 level if we were to collapse below the inverted hammer's bottom. You should be paying attention to the 3500 level since it is a large, rounded number with psychological significance that undoubtedly will generate a lot of media attention.


Alternately, the market is likely to go for the 4000 level if we were to break over the top of the inverted hammer. Although I don't believe that occurs, it is something to be aware of. In the end, the Federal Reserve's mishandling of the stock market is a problem, and it is clear that they are not prepared to continue tightening monetary policy. You will need to keep an eye on the interest rate sector and bond market to pay special attention to where we should go next at this point since it's possible that increasing interest rates will continue to act against the stock market.

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