EUR/USD 1.13734
0.135%
Gold 4034.48
0.887%
Oil 71.980
3.197%
USD/JPY 161.775
-0.008%
GBP/USD 1.31989
0.242%
GBP/JPY 213.530
0.237%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 26th, Federal Reserve Chairman John Goolsby stated on Thursday that while the latest U.S. inflation report showed a glimmer of hope for improvement in service sector inflation, underlying inflationary pressures remain too high and their trajectory is worrying. In an interview with CNBC, Goolsby declined to comment specifically on whether the Fed should raise or maintain interest rates. He stated that he agrees with Fed Chairman Warshs view that speculation about the future path of interest rates should be avoided.June 26 – UN Secretary-Generals spokesperson, Stéphane Dujarric, issued a statement on June 25 saying that UN agencies in Venezuela are mobilizing aid resources and collaborating with the Venezuelan government and partners to support Venezuela in responding to the earthquake disaster. The statement said that initial reports indicate that many parts of Venezuela, including the capital Caracas, suffered severe damage from the earthquake, with significant casualties and some people still trapped or missing. Meanwhile, critical infrastructure was damaged and basic services were disrupted. The UN Office for the Coordination of Humanitarian Affairs is assisting in the deployment of urban search and rescue teams.Monroe Energy: Emergency responders have extinguished the fire at the Trainer refinery in Pennsylvania and have declared the fire "under control".German Chancellor Merz: Currently, Germany is losing 300 to 500 jobs every day. Double-digit numbers of companies are filing for bankruptcy daily. This means we must quickly get out of this difficult situation.German Chancellor Merz: We need to ensure that German jobs are restored as soon as possible and that German companies remain competitive in both domestic and international markets.

S&P 500 Price Forecast — Stock Market Looking for Footing

Florala Chen

Aug 24, 2022 15:54

微信截图_20220824155053.png


In the E-mini contract, the S&P 500 has gained a little bit of stability during the Tuesday trading session as we get closer to a critical support level.

Technical Analysis of the S&P 500

In the early stages of the E-mini contract, the S&P 500 has moved in a rather narrow range. Having said that, this week is the Jackson Hole Symposium, which is practically guaranteed to make a lot of noise. In this case, I believe the trading public will be paying great heed to central bankers' pronouncements, which, of course, may sometimes result in complete pandemonium.


In this case, I believe we could have a brief rebound followed by increased selling pressure. The 200-Day EMA is located around 4185, and there is considerable resistance at the 4300 level above. It's also important to pay attention to the 50-Day EMA, which is at 4082 and climbing below; it may provide dynamic support.


I do believe that it is extremely possible that traders will look to the 50-Day EMA to salvage the market upward, regardless of whether or not this turns out to be the case. If we break it down below that, the market is probably just trying to get to the 4000 level. Anything below the 4000 mark indicates that we have once again altered our mentality and that more downside is yet to come.


One thing you can certainly bet on, in my opinion, is a lot of noisy volatility, mostly as a result of the central bankers' ranting in Wyoming. They will almost certainly underline their resolve to battle inflation, which means that monetary policies will continue to tighten throughout the globe.

Suggestion