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Market news: U.S. Middle East envoy Witkov will travel to Moscow this week after holding discussions with Ukrainian officials in Oslo.October 20th - According to The Washington Post, officials revealed on Monday that the Trump administration has not yet approved the transfer of interceptor missiles to Ukraine to defend against Russian missile and drone attacks. This comes amid a period of increasingly friendly relations between Trump and Russia, coupled with escalating criticism of Ukraine. According to a U.S. official and three other sources familiar with the matter, at least some of the Patriot air defense system interceptors were originally provided by friendly nations to Ukraine, but the transfer requires approval from U.S. Defense Secretary Peter Hegseth. Because these weapons are U.S.-made, under foreign military sales agreements, the transfer of such weapons to third parties by other countries must be approved by the U.S. government; therefore, the U.S. retains final approval authority. A Ukrainian official revealed last week that Ukraines existing stockpile of interceptor missiles is reduced to only a handful. Officials stated that Hegseth has not formally rejected the transfer request, but the necessary approval procedures have not yet been completed. Meanwhile, he continues to approve some U.S. aid to Ukraine.According to AXIOS: U.S. Defense Secretary Hergsays made a surprise visit to Israel and met with Israeli Prime Minister Netanyahu.Micro-Intelligence announced on the Hong Kong Stock Exchange that it plans to issue 37.27 million H shares for its Hong Kong listing, with an issue price range of HK$16.63/share to HK$21.46/share. Trading is expected to begin on the Hong Kong Stock Exchange on October 28.On October 20th, Qatari Deputy Prime Minister and Minister of State for Defense Abdulrahman Al Thani stated on the 19th that sustainable peace requires regional dialogue between the Gulf Cooperation Council (GCC) countries and Iran, with Pakistan and Turkey also participating, and consultations sought with international allies. The dialogue should be based on trust and non-aggression agreements, addressing the concerns of Iran and the GCC. Al Thani said that strong economic cooperation with Iran would serve as a "bridge to prevent any future conflicts in the region." He also stated that any uncertainty in the Strait of Hormuz or other straits would negatively impact global energy supplies and markets, ultimately affecting consumers.

S&P 500 Price Forecast – S&P 500 E-mini Contract Finds Support at 3600, at Least for Now

Steven Zhao

Oct 12, 2022 15:37

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Technical Analysis of the S&P 500

The S&P 500 has decreased somewhat during Tuesday's trading session as a result of the overwhelming criticism. Although we haven't broken down much, I believe that the inflation data coming out of the US this week will be the spark that everyone else is looking for. Since the Federal Reserve pays special attention to the CPI and PPI figures, if they turn out to be higher than expected, the stock market will almost certainly crash.


It's conceivable that the market will decline to the 3500 level if we do make a new, lower bottom. The 3500 level below is a big, round, psychologically important figure that could draw some attention, but I believe we also move below that level. The 3800 level, on the other hand, might be a big resistance level that will be challenging to break over if we turn around a rally at this point in time.


I do believe that it is likely just a matter of time until the sellers get involved, and I would be more than prepared to fade symptoms of tiredness as soon as they appear, as the 50-Day EMA is pushing near that region, adding more pressure. At this time, this market is still showing a lot of noisy behavior, and volatility is increasing, which makes the market very risky. Markets that are volatile are often not particularly profitable markets.

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