S&P500, December 12, 2022
Current Price: $3943

Trend direction: UP

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
4326	4216	4114	3903	3845	3767

EVENT: US CPI DATA WILL BE ANNOUNCED (December 13, Tuesday) US consumer price index data for November will be released on Tuesday. Economists expect the annual inflation rate to be announced as 7.3%, which was 7.7% the previous month.

EVENT: THE LAST FOMC MEETING OF THE YEAR WILL BE HELD (December 14, Wednesday) While the fight against inflation continues, the world's leading central banks are preparing to complete 2022 with high interest rates. At Wednesday's meeting, the Fed is expected to raise interest rates by 50 basis points from 4.00% to 4.50%. In the pricing in money markets, it is predicted that the Fed will increase interest rates by 50 basis points with a 77 percent probability this week, while it is estimated that it will continue to increase interest rates by 75 basis points with a 23 percent probability. In addition to interest rate decisions, markets will focus on indicators of how much interest rates can rise. Fed Chairman Jerome Powell will hold his last press conference of the year on Wednesday, in which he is likely to maintain the FED’s view to slow down the pace of rate hikes. Despite this slowdown, the FED funds rate by year-end and early 2023 will be higher than previous forecasts revealed a few months ago. As such, eyes will turn to signals about how high interest rates may ultimately rise in 2023. FED Governor Powell's views on inflation and the likelihood of the economy going into recession next year will also be monitored closely by markets.

The November CPI data to be disclosed on Tuesday may also determine the short-term direction of the market. Note that the higher-than-expected PPI data last week had led to some sell-off in markets, fueling concerns that the Fed would keep interest rates higher for longer, leading to a recession in the end. We would actually expect markets to shift to a positive sentiment again if the CPI inflation data comes in line with expectations. Yet, the market sell-off may exacerbate if the CPI data comes in higher than expected than the PPI data.

S&P500 uptrend opportunity based On 1.00 Lot Calculation:

Pivot Points	Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
Profit or loss in $	19150	13650	8550	-2000	-4900	-8800
Profit or loss in €	18119	12915	8090	-1892	-4636	-8326
Profit or loss in £	15589	11112	6960	-1628	-3988	-7163

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