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Futures data for September 2nd: 1. Heavy rainfall is expected in parts of the Indian Peninsula and central and southern Europe over the next three days. Under the influence of a low vortex, parts of northern India and northern Pakistan will experience moderate to heavy rain, with localized torrential or torrential downpours. These areas will also experience short bursts of heavy convective rainfall, with cumulative precipitation reaching 50-90 mm in some areas, and exceeding 150 mm in some areas. Under the influence of a low trough, parts of eastern France, central Germany, Switzerland, northern Italy, and western Austria will experience moderate to heavy rain, with localized torrential downpours. Under the influence of a low vortex, parts of northern Argentina, Paraguay, and Uruguay will experience moderate to heavy rain, with localized torrential or torrential downpours. 2. High temperatures will persist in parts of West Asia and North Africa, including the southwestern United States, for the next three days. Under the influence of a subtropical high pressure system, temperatures will exceed 40°C (104°F) in the central and eastern Arabian Peninsula, southern Iran, southwestern Afghanistan, southwestern Pakistan, and most of North Africa, with temperatures reaching over 45°C in some areas. Parts of the southwestern United States and northern Mexico will experience temperatures exceeding 35°C (109°F), with temperatures reaching 40°C in some areas.Japans base money annual rate in August was -4.1%, compared with -3.90% in the previous month.Venezuelan President Maduro announced that the countrys National Militia has seen a record number of recruits, with 8.2 million Venezuelans volunteering to join the organization.On September 2nd, Hanna Virkkunen, Executive Vice President of the European Commission responsible for technological sovereignty, stated on social media that the Digital Services Act and the Digital Markets Act are "sovereign legislation" of the EU and that the EU will continue to enforce these digital laws. Virkkunen stated that the relevant digital laws are non-discriminatory and apply to all online platforms operating in the EU. Virkkunen also sent a letter to Jim Jordan, Chairman of the US House Judiciary Committee, reiterating that EU digital legislation does not have extraterritorial effect, but that as long as a companys services are provided within the EU, regardless of where they are headquartered, they will be subject to EU supervision.The death toll from the Afghanistan earthquake has risen to 1,100, with another 3,500 injured.

Stock Markets Continue to Defy Gravity

Cory Russell

Aug 17, 2022 14:48

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Technical Analysis of the S&P 500

As we keep a careful eye on the 4300 level, the S&P 500 has fluctuated throughout Tuesday's generally tight trade. It seems likely that this offer would continue to give traders some trouble since the 4300 level has historically been a strong region of resistance. The market is expected to rise significantly if we can close above there on a daily candlestick. Despite this, there are several reasons to be worried, not the least of which being the fact that earnings season is already underway and has the potential to make a lot of noise.


Wall Street continues to hold the view that the Federal Reserve is not serious about tightening even if it is shouting from the sidelines about it. It will be fascinating to see how the volatility develops as long as that condition persists since a tighter Federal Reserve normally works against the value of equities. We could see a huge meltdown if Wall Street starts to trust them all of a sudden. However, if the Federal Reserve were to give in, it may push stocks a little higher. In complete candor, I also stated that last week. At this point, I believe Wall Street has gotten a little ahead of itself.


If we can break down below the 200 Day EMA, which should act as support, then it's probable that we will descend to the 50 Day EMA. On the other hand, the 4450 level may be in view if we do break out to the upside.

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