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On January 10, local time, Irans Permanent Representative to the United Nations, Illavani, emphasized in a letter to the UN Security Council that the United States should be held responsible for the unrest and violence within Iran. He condemned the illegal actions of the United States and its collusion with Israel to interfere in Irans internal affairs. Illavani stated that this interference was achieved through threats, provocations, and the deliberate encouragement of violence, undermining peace and stability. Iran condemns this behavior as a violation of the UN Charter and a destabilizing act.On January 10th, Polish Prime Minister Donald Tusk expressed concern on the 9th that the US threat to seize Greenland could put pressure on NATO. On the same day, US President Donald Trump stated that he would not hesitate to acquire Greenland through "difficult" means. Following this statement, NATO Secretary General Mark Rutte and US Secretary of State Marco Rubio discussed strengthening security in the Arctic region. According to French sources on the 9th, Rubio is scheduled to meet with the Danish Foreign Minister on the 14th. Some analysts believe that the US intention to seize Greenland from its long-time ally Denmark will cause shockwaves within NATO and deepen the rift between Trump and European leaders.Authorities say a Ukrainian drone attack caused a fire at an oil depot in Russia’s Volgograd region.On January 10, Sheng Songcheng, Dean of the China Chief Economist Forum Research Institute and Professor at CEIBS, stated at the 2026 China Chief Economist Forum Annual Meeting that monetary policy is likely to proceed in small steps in the near future, and there is still room for reserve requirement ratio and interest rate cuts.On January 10th, Lei Jun, after reviewing the sales rankings on Yiche.com, stated: "Tesla is indeed strong, but not invincible! Im proud that the SU7 is the only pure electric sedan in its class to date to have outperformed the Model 3! Excellent product strength and quality are the reasons for such sales. The Xiaomi YU7, launched only six months ago, currently lags behind the Model Y in sales. I believe that given time, the YU7 will be able to compete with it!"

Stock Markets Continue to Put Up a Fight

Cory Russell

Jul 18, 2022 15:12

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Weekly Technical Analysis for the S&P 500

The S&P 500 has declined considerably over the last week, but it's important to remember that the previous three candlesticks have all been hammers, which does indicate that a balance or perhaps a breakout to show signs of life is very approaching. Having said that, I believe the market will, more often than not, exhibit a scenario in which there will be a brief rebound and maybe a bid to test the 4200 level. If we could break through the 4200 level, which has served as a big area of resistance as well, the general trend would alter.


On the other side, this market is likely to crash very severely if we reverse course and break down below the 3640 level and, therefore, the 200 day EMA. Given everything being equal, I think this market is a touch oversold, so a little rebound makes some sense. The market will likely continue to be choppy and noisy, and you should be concerned about the fact that we are almost certainly heading into a recession, despite what some people on Wall Street would have you believe. Keep in mind that we are about to enter the earnings season, so you need to pay close attention to pre-market volatility.


In the end, I believe fading rallies will continue to be effective, but we must wait for those rallies to take place in order to get some opportunity and a better risk-to-reward ratio.

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