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On December 7, the African Union (AU) and the Economic Community of West African States (ECOWAS) issued separate statements strongly condemning the attempted coup in Benin that day. The AU statement said that any form of military intervention in a political process is a serious violation of the AUs fundamental principles and values. AU Commission Chairperson Yusuf called on all those involved in the coup attempt to immediately cease all illegal actions and fully comply with the Benin Constitution. The ECOWAS statement said that the coup attempt violated the Benin Constitution, and ECOWAS commended the Benin government and its armed forces for their efforts to control the situation.French President Macron: Monetary policy should take into account employment and economic growth.On December 7th, Ukrainian President Volodymyr Zelenskyy posted on his official social media platform that Russia had launched over 1,600 drones, approximately 1,200 guided-missile bombs, and nearly 70 missiles of various types at Ukraine this week alone. Zelenskyy stated that on the 7th, the Russian military attacked Ukraine with over 240 drones and 5 ballistic missiles. Seven regions in Ukraine were damaged, with casualties reported in some areas. He indicated that Ukraine continues to cooperate with its partners to strengthen its defenses. Currently, Russia has not responded to this.The Russian Ministry of Defense stated that Russian forces launched a coordinated attack last night on Ukraines transportation infrastructure, fuel and energy facilities, and long-range drone bases.According to RIA Novosti: Russian troops have occupied Kucherivka in the Kharkiv region of Ukraine.

S&P 500 Price Forecast – Stock Markets Get Sold to Kick off the Week

Alice Wang

Aug 23, 2022 14:48

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The 200-Day EMA was breached by the S&P 500 during the trading session after a steep decline. At this point, the Jackson Hole Symposium this week is still causing a lot of fear in the market.

Technical Analysis of the S&P 500

As there is still a lot of pessimism, the S&P 500 has dropped significantly in the E-mini contract during the trading session on Monday. The central bankers' blather will ultimately draw a lot of attention to this week's Jackson Hole Symposium, and people will be curious about whether or not they will continue to be active in battling inflation. It does make some sense that equities would suffer as long as there is a central bank that is prepared to battle inflation, so a retreat this week is probably to be anticipated.


Along with the 50-Day EMA below, the 4113 level is a region where I anticipate seeing a lot of support. Clearing all of that would be a really unfortunate turn of events, and this market would undoubtedly fall below the 4000 level as a result. The stock market surge, in my opinion, may be almost done at this point, and the direction we go over the following few days' larger move will almost probably be determined by those events.


Sadly, much of this will depend on how the markets understand the statements made by central bankers, which implies that they "may get it wrong" once again. However, by the end of the week, we should see a lot of the momentum that traders have exhibited in one way or the other. On the upside, I believe there is still resistance in the area around the 4300 mark, which may have been the peak.

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