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1. The governor of Rostov Oblast, Russia, stated that two oil tankers were attacked by drones in the Sea of Azov. 2. The Russian Federal Security Service (FSB) stated that it has successfully thwarted a series of large-scale terrorist attacks targeting Russian Ministry of Defense military infrastructure and officers, including operations involving drone strikes. 3. The Ukrainian military stated that it struck 12 Russian oil tankers, one tugboat, and one cargo ship in the Sea of Azov. 4. Sources say that Putin rejected calls for peace talks, potentially escalating the war in Ukraine. 5. Russian Foreign Minister Lavrov stated that Russia no longer believes the West is willing to negotiate. 6. The Italian Foreign Ministry stated that Italy has expelled two military attachés from the Russian embassy in Rome. 7. The Kremlin stated that it has no illusions about the US granting Ukraine permission to produce Patriot missiles.On July 10th, Israeli Prime Minister Benjamin Netanyahu stated on the 9th that Israel will "not allow" Iran to acquire nuclear weapons, regardless of whether the United States and Iran reach an agreement. Simultaneously, Israel plans to increase its defense budget over the next 10 years, focusing on developing its air force and domestic defense industry. He announced an additional 350 billion shekels (approximately US$117.7 billion) to the defense budget over the next 10 years, a significant portion of which will be used for air force development, while simultaneously developing the domestic defense industry to reduce reliance on overseas procurement.SK Hynix plans to raise 40 trillion won in its ADR listing, up from 43 trillion won previously.On July 10, Sun Lei, China’s Deputy Permanent Representative to the United Nations, spoke at the Security Council’s review of the Ukraine issue on July 9, urging the parties involved to remain calm and exercise restraint, make every effort to de-escalate the situation, and create conditions for an early ceasefire and end to the war.July 10th - According to the Congressional Budget Offices "June 2026 Monthly Budget Review," the U.S. federal budget deficit for the first nine months of fiscal year 2026 totaled approximately $1.4 trillion, an increase of $35 billion compared to the same period of the previous fiscal year. During the same period, federal revenue was $4.2 trillion, an increase of $142 billion, or 4%; expenditures were $5.5 trillion, an increase of $178 billion, or 3%.

S&P 500 Price Forecast – Stock Markets Quiet Ahead of FOMC Meeting Minutes

Skylar Shaw

Nov 24, 2022 16:36


Technical Analysis of the S&P 500

Prior to the FOMC Meeting Minutes being released late on Wednesday and the Thanksgiving break on Thursday, the S&P 500 E-mini contract has been rather quiet. The underlying index will be closed, but there will be some electronic trading on the futures markets, but it will be considerably limited. It is tough to conceive that this market will genuinely take off unless the FOMC Meeting Minutes contain something unusually dovish and it sits just over the 200-Day EMA. Even if it does, resistance can also appear in the form of the downtrend line just above it.


The 3900 level, which was formerly resistance, is now serving as support beneath. The 50-Day EMA could be cut if we break down below that level, which would be a highly unfavorable development. Despite the trendline above, there is a case to be made for a slight rally because at this time of year, money managers frequently enter the market and begin purchasing securities to boost prices because they must disclose to their clients what they own and whether or not they made any gains for the year.


Having said that, there is a small amount of herd mentality surrounding the "Santa Claus rally." It doesn't necessarily mean that it will stick and it doesn't necessarily imply that it must occur, but history tends to support that kind of action. However, I do believe that ultimately we will fall due of the excessive number of economic obstacles.