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U.S. Secretary of State Marco Rubio met with Uzbek Foreign Minister Saidov to discuss deepening the U.S.-Uzbekistan strategic partnership, covering cooperation in infrastructure, aerospace, key minerals, and collaboration through the C5+1 diplomatic mechanism.On October 19th, U.S. Senator Dave McCormick praised Trumps handling of the Iran issue. The Pennsylvania Republican wrote on social media, "The Iranian regime has the blood of Americans on its hands, and theres no doubt it was ramping up its nuclear weapons program at the time." He stated, "[Trump] made a difficult but courageous decision to confront this threat." McCormick added, "Iranian leaders now face a choice: either abandon their nuclear ambitions or continue to endure economic and military pressure."On October 19, Syria and the World Bank issued a joint statement on October 18, agreeing to establish a multi-party donor trust fund to support Syrias recovery and reconstruction. The statement said the "Syria Recovery and Reconstruction Trust Fund" aims to provide preferential financing, investment guarantees, technical support, and capacity-building support, and attract private investment to support Syrias economic recovery and post-war reconstruction. The fund will be managed by the World Bank and will operate in accordance with World Bank policies and procedures. The World Bank will work with donors and development partners to manage the fund according to priorities identified by the Syrian government.On October 19th, according to the Jerusalem Post, Israeli security forces arrested 10 suspects early Monday morning for alleged involvement in the violence that occurred over the weekend in the West Bank, including the attack on Washington Post photojournalist Heidi Levine. Additionally, videos circulating online show several EU diplomats near the village of Tebe being attacked. The operation, codenamed "Operation Olive Leaf," was a coordinated effort by the Israeli Security Service (Shin Bet), border police, and the Israel Defense Forces (IDF). Previously, the US ambassador to Israel called for an investigation, arrests, and the most severe prosecution and punishment for those involved in the attack on photojournalist Heidi Levine.October 19th - A surge in UK government bonds has been triggered by bets from some major investors that Chancellor of the Exchequer John Healy will maintain fiscal discipline in his first budget. Institutions such as M&G Plc and Ninety One Plc have already bought UK bonds ahead of the budget announcement on October 28th. They anticipate that if Healy demonstrates solid control over spending and borrowing, bond yields could decline. Moyeen Islam, UK interest rate strategist at Barclays, stated, "From a bond market perspective, a plain budget might be the best outcome for a new Chancellor in an uncertain environment. With global markets focused on Washington, Paris, and Tokyo, Healy shouldnt offer any unique UK-related topics to the global market to avoid unnecessary attention."

S&P 500 Price Forecast – Stock Markets Threatening to Move Higher

Florala Chen

Oct 26, 2022 16:08

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Technical Analysis of the S&P 500

Tuesday's session saw a very minor increase in the price of the S&P 500 E-mini contract as we approached the 50-Day EMA. The market seems to be attempting some kind of breakout as a result, but ultimately I believe this is just a "fade the rally" type of scenario since we are in the middle of earnings season and, quite frankly, most guidance is likely to be at best subpar. The Federal Reserve may reiterate the need to tighten monetary policy in the coming days, but Wall Street gamblers may attempt to push prices higher in the lead-up to the next Federal Reserve meeting in November.


In any case, I'm watching for symptoms of weariness so I can start shorting them, but I haven't exactly seen them. Although I still believe there is significant resistance around the 3900 level and again at the 200-Day EMA, which is slightly over the 4000 level, the market may break above the 50-Day EMA.


I'll be looking to short this market if the daily candlestick moves much to the upside, but for the time being, I believe that trading in this kind of very volatile market is only challenging during the bear market rally.


I'll keep seeing it through that lens because it wouldn't take much to cross the wires and divide the market once again. The greatest method to trade your market is to just wait for an opportunity, since you do sometimes see significant rallies. At the moment, I'm doing just that.