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Ukraine claims that Russia launched a large-scale missile and drone attack that struck Ukraines energy infrastructure.On February 22, the Afghan Ministry of Defense issued a statement saying that Pakistan had once again violated Afghan territory, launching airstrikes on multiple civilian areas in Nangarhar and Paktika provinces. The attacks resulted in dozens of civilian casualties, including women and children. The Ministry of Defense strongly condemned Pakistans blatant violation of Afghan territorial sovereignty, considering it a serious breach of international law and the principle of good neighborliness. The Ministry warned that it would respond appropriately and carefully at the right time.February 22nd - According to Shanghai Railway Group, the Yangtze River Delta railway network is experiencing a peak in return passenger traffic on February 22nd, with an estimated 3.19 million passengers transported today, a year-on-year increase of 15.3%. Yesterday, 2.913 million passengers were transported, a year-on-year increase of 18.3%. Since the start of this years Spring Festival travel rush, the average daily passenger volume has been approximately 2.595 million. The railway department is increasing capacity on key routes and during peak hours to actively cope with the passenger flow peak, planning to add 584 passenger trains (378 through trains and 206 local trains) and expand the fleet of high-speed trains by 366.February 22nd - According to data from the Hong Kong-Zhuhai-Macau Bridge Border Inspection Station of the Zhuhai Border Inspection General Station, since February 15th (the 28th day of the twelfth lunar month), as of February 21st (the fifth day of the first lunar month), the number of Hong Kong and Macau single-license plate vehicles entering and exiting through the Zhuhai Port of the Hong Kong-Zhuhai-Macau Bridge has exceeded 100,000, reaching 114,000. On February 21st (the fifth day of the first lunar month), the number of Hong Kong and Macau single-license plate vehicles inspected by the border inspection department exceeded 20,000 for the first time in a single day, setting a new historical high since the implementation of the "Macau vehicles traveling north" and "Hong Kong vehicles traveling north" policies.February 22 – Ahmed Altom, Director General of the Geological Research Authority of Sudan, stated on February 21 that the armed conflict in Sudan has caused approximately $7 billion in economic losses to the countrys mining industry. Altom said that the conflict has severely damaged Sudans mining infrastructure, reducing government-led mining activities from 18 states to 6. Geological surveys, exploration operations, and mining production have all been significantly affected, resulting in a sharp decline in related fiscal revenue.

Stock Markets Take a Break Ahead of Non-Farm Payroll

Cory Russell

Aug 05, 2022 15:46

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As we swing back and forth between the Friday news, the S&P 500 has been trading a little sideways throughout the day.

Technical Analysis of the S&P 500

The S&P 500 fluctuated throughout the session on Thursday since we are barely below the 200 day moving average and, of course, we have to be concerned about the employment report on Friday.


Given that circumstance, I believe an explosive move is most likely only a matter of time. If everything remained the same, one may believe that this barrier should hold, but the S&P 500 might really take off if we were to break over the 4200 mark. Although that is not my worst-case situation, I must have it in the back of my mind when I trade this.


The 4100 level, in my opinion, is critical. A far deeper correction may be seen if we were to drop below that level. We drop another 100 points or so at that moment and start looking at the 50 Day EMA.


Unfortunately, whether or not the Federal Reserve will tighten monetary policy any more forcefully depends entirely on perception. While the Fed adamantly maintains its capacity to do so, the market does not believe it. It's highly likely that the stock markets will see a little decline if the American employment report on Friday is hotter than expected. Traders will view this as yet more justification for the Federal Reserve to closely monitor its monetary policy, perhaps leading it to tighten further. In any case, I believe we are a bit overdone in the near future, but always keep an eye out for the opposite side.