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On October 16th, Federal Reserve Chairman Kevin Warsh stated on Friday that he was surprised by the resilience of many G20 economies despite a series of geopolitical shocks the world has faced in recent months and the tightening of monetary policy by most central banks to combat inflation. Speaking at the 2026 IMF and World Bank Annual Meetings in Bangkok, Thailand, Warsh said, "We are facing common challenges and taking action, which I think is a positive development." He added, "I am optimistic that, while some may consider this overly naive, at least for the United States, we will emerge stronger from this shock, with more solid economic fundamentals and a greater capacity to lead global economic growth."Bank of Canada Governor Macklem: Canada has not yet raised interest rates, but the longer it waits, the harder it will be to ignore rising energy prices.On October 16th, Federal Reserve Chairman Kevin Warsh announced that the Feds Productivity and Employment Task Force will hold an in-person hearing in the San Francisco Bay Area on November 16th, focusing on issues such as the impact of AI on the economy. Warsh announced this arrangement during the IMF annual meetings in Bangkok. He stated that the task force will delve into the impact of artificial intelligence on economic activity and the job market. In June, Warsh established five task forces comprised of external experts to study key areas in monetary policy formulation. He previously indicated that these task forces are expected to submit policy recommendations to the Fed around the end of this year. Warsh did not comment on monetary policy or the U.S. economic outlook at this hearing.JPMorgan Chase: Raises its price target for Morgan Stanley (MS.N) from $195 to $198.JPMorgan Chase raised its price target for Goldman Sachs (GS.N) from $955 to $970.

S&P 500 Weekly Price Forecast – Stock Market Stall After Momentum Runs Out

Alice Wang

Nov 21, 2022 15:09


Weekly Technical Analysis for the S&P 500

Since the S&P 500 has been fluctuating a lot this week, I believe that this candlestick is quite informative. After all, the previous week had witnessed a significant increase due to the lower-than-expected CPI statistics. But there was no action taken in response. The weekly candlestick reversed direction exactly at the 50-Week EMA. In the end, we are still constructing a descending triangle, so it will be fascinating to see how it develops.


Hopes that the Federal Reserve may back down on tightening and perhaps even start considering turning have contributed significantly to the recent rise. Quite honestly, James Bullard has said it more than once, but the word that keeps coming to mind for me is "higher for longer." This indicates that even if the market succeeds in convincing the Federal Reserve to stop rising rates, those rates will likely remain high for a considerable amount of time.


Of course, the other option is that we surpass the trend line I've drawn on the weekly chart, in which case it's possible that we'll reach the 4250 level. In the end, it appears that purchasers are having less and less of an impact on the market, and with all the potential downside that's coming, I believe it's quite likely that it's simpler to short this market, even though sometimes it seems like things are a little rough around the edges. The US currency and interest rate markets should be closely monitored because there is a negative association between them.

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