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Sources say Lukoil has terminated the positions of its non-Russian foreign employees at the West Khurna-2 oil field. Iraq has frozen crude oil and cash payments to Lukoil in an effort to find legal means to ensure the continued operation of the West Khurna-2 field.Iraqi official sources say Lukoil has declared force majeure on its West Kuna-2 project in Iraq. Lukoil warned Iraq that it may withdraw from the project if the force majeure situation continues.November 10th - Japanese Prime Minister Sanae Takaichi aims to revitalize the economy with her first stimulus package and launch a new growth strategy through investment. According to a document released after the first meeting of an expert panel responsible for developing a new economic growth strategy for Japan by next summer, the panel recommended that the prime minister utilize the package to launch an effort to build strong growth through "crisis management investment and growth investment." The expert panel stated that the government should focus its investment on 17 sectors that Takaichi considers crucial to Japans economic growth. These sectors include semiconductors and artificial intelligence, shipbuilding, the defense industry, and key minerals. Takaichi has signaled a shift towards a more expansionary fiscal policy, stating that Japan is only halfway there in achieving stable inflation supported by wage growth. This suggests she wants the Bank of Japan to remain cautious in its gradual interest rate hikes. She also emphasized her commitment to implementing a responsible yet expansionary fiscal policy.Shares of Hungarian refiner Mol rose on November 10 after Prime Minister Viktor Orbán secured an waiver from U.S. sanctions on Russian oil—crucial to the companys operations. Following a meeting with President Trump at the White House on November 7 and the resulting respite, Mol shares jumped as much as 3.1% on Monday, marking their biggest gain in nearly two weeks. Even after the Russia-Ukraine conflict prompted EU counterparts to drastically reduce purchases, Mols refineries in Hungary and Slovakia continue to rely on Russian crude. The price differential for cheap Russian oil has helped Mol widen its refining margins and boosted third-quarter earnings. It remains unclear how long Mols waiver will last; Orbán stated he has been granted an "indefinite" respite, while White House officials say its only for one year. Regardless, under an EU plan, Hungary must cease importing Russian energy after 2027.Citigroup: Maintains a 30-day short-term bullish view on Nvidia (NVDA.O), raising its price target from $210 to $220.

Short SPX: Top Trade Opportunities

Skylar Shaw

Apr 15, 2022 10:51

It's possible that the shot across the bow is to blame. The rally, which started in late March, will be closely monitored since it might be a "sucker's rally" rather than a relief rally. If this is the case, Q2 is likely to see a lower high.


Price isn't expected to rise much over 4600, if at all. A rally that extends beyond that point may still fail as a double-top. The market normally does not retrace more than 60-70 percent of the slide off the record high to reach the classic topping sequence of a high, major drop, lower-high before the massive bear market sell-off.

WEEKLY CHART OF THE S&P 500

It may take some time for the downward trend to become an outright drop. The longer it goes on, the bigger the sell-off is going to be. It's preferable for markets to have fast, painful drops rather than long topping cycles that finally lead to quick selling.


This might be a new leg higher to a new record high, but the background for a massive top seems to be as strong as it has been in recent history. If this is the case, the whole year should be turbulent, providing traders with plenty of possibilities.

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