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According to South Korean media reports, the margin requirements for South Korean leveraged chip ETFs may be increased fivefold.July 15th - The market widely expects the Bank of Canada to keep its overnight interest rate unchanged at 2.25% when it announces its interest rate decision on Wednesday. This would be the sixth consecutive time the rate has remained unchanged, following a combined 50 basis point cut in September and October of last year. Royal Bank of Canada stated that the surge in oil prices over the past month has not yet shown clear signs of developing into a broader, sustained inflationary shock. The bank further noted that, at the same time, Canadian economic growth and labor market data have improved compared to previous periods. While first-quarter GDP growth unexpectedly fell short of expectations, second-quarter economic momentum strengthened, and the labor market showed further signs of stabilization in May and June. Consumer spending data remained resilient. The bank believes that overall, although the Canadian economy remains weak, per capita economic growth is expected to gradually improve. Against this backdrop, it believes the Bank of Canada is likely to maintain its interest rate unchanged throughout 2026.The commander of the Ukrainian drone force said that Ukrainian drones struck 20 Russian vessels in the Black Sea last night, including 17 oil tankers.July 15th - According to State Grid Inner Mongolia East Electric Power, as of 24:00 on July 12th, Inner Mongolias annual ultra-high voltage power transmission reached 114.6 billion kilowatt-hours, exceeding the 100 billion mark.July 15th - According to Beijing Capital International Airport, since the start of the summer travel season, passenger throughput at the airport has increased by over 5% year-on-year, with international and regional passenger traffic maintaining a year-on-year growth rate of over 10%. It is predicted that during this summer travel season, the airport will handle over 73,000 flights and more than 12 million passengers, with the peak travel period expected in early August, reaching over 230,000 passengers per day on peak days. Since the start of the summer season, passenger traffic to and from Moscow, Paris, Dubai, Rome, Stockholm, and other destinations has increased rapidly. It is projected that by July 18th, the airports annual cumulative international and regional passenger throughput will surpass 10 million, 19 days earlier than last year.

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

Florala Chen

Aug 24, 2022 15:54

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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.

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