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Hong Kong Financial Secretary Paul Chan Mo-po stated today (March 1st) that while direct trade and investment between Hong Kong and Iran are limited, the conflict has created significant uncertainty globally. He estimated that the Middle East conflict has led to greater volatility in financial markets, potentially causing faster capital flows and uncertainty. Local funds may seek a "safe haven" in Hong Kong, and the Hong Kong SAR government is prepared to carefully manage financial risks, with sufficient contingency plans in place. He pointed out that the conflict could have a short-term impact on gold and oil prices, as well as international trade and transportation costs, and the SAR government has been continuously assessing the associated risks.March 1 (Xinhua) -- Iranian media reported on March 1 that several senior Iranian military officers were killed in attacks by the United States and Israel, including Iranian Armed Forces Chief of Staff Mousavi, Islamic Revolutionary Guard Corps Commander Mohammad Pakpour, Defense Council Secretary Ali Shamkhani, and Defense Minister Aziz Nasirzadeh. The names of other victims will be released later.Iraq declared three days of national mourning following the assassination of Irans Supreme Leader Ayatollah Khamenei.California Governor Gavin Newsom: Trump has lied to the American people. His reckless and illegal wars offer no description of how they will end, nor any explanation of the existential threats they pose.March 1st - Multiple sources from trading institutions said on February 28th that following the US and Israeli attacks on Iran, Iran announced the closure of the Strait of Hormuz, and several tanker owners and traders have suspended the transport of crude oil, fuel, and liquefied natural gas through the strait. According to the German Shipowners Association, the shipping industry is facing an "acute operational crisis." Reuters quoted an executive of a major trading firm as saying, "Our ships will remain anchored for several days." Satellite images show that many ships are stranded near major ports such as Fujairah in the UAE, failing to pass through the Strait of Hormuz. Container carrier CMA CGM stated that after the US and Israeli attacks on Iran, the group has instructed its ships in or heading to the Gulf region to find safe locations.

E-mini NASD-100: Sellers Targeting March Bottom at 12942.50

Cameron Murphy

Apr 24, 2022 10:08


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The June E-mini NASDAQ-100 Index futures are down significantly just before the close on Friday, putting the tech-heavy index on track for its third week of losses. On heightened clarity regarding aggressive near-term interest rate rises and general worries ahead of Big Tech reports next week, sellers pounded technology equities.


June E-mini NASDAQ-100 Index futures were trading at 13442.00 at 17:55 GMT, down 286.25 or -2.09 percent. The Invesco QQQ Trust ETF (QQQ) is now trading at 325.41, down 8.74 percent.

Tech Stocks Have a Difficult Future Prior to the Release of Major Earnings Reports

The NASDAQ Composite has had a bumpy start to the year due to the possibility of a more hawkish Fed. The tendency is particularly obvious in tech and growth stocks, which are more exposed to increasing bond rates in terms of valuation. In the year 2022, the NASDAQ is down 17.9%.


The four largest U.S. corporations by market value, Apple, Microsoft, Amazon, and Google parent Alphabet, will report earnings next week.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The primary trend will be changed to down if a deal is made through 14298.00. The downtrend would be reaffirmed if the price breaks through the intraday low of 13435.75.


12942.50 to 15268.75 is the short-term range. The index is now trading at resistance from 13831.25 to 14105.75, which is the lower end of its retracement zone.

Technical Forecast for the Daily Swing Chart

Trader response to 13728.25 will influence the direction of the June E-mini NASDAQ-100 Index entering Friday's closing.

Scenario that is bearish

The presence of sellers will be shown by a persistent move below 13728.25. If the intraday low of 13435.75 is broken, it means the selling pressure is increasing. Look for a downward acceleration if this builds enough downside momentum, with 12942.50 being the next big negative target.

Possibilities for Growth

The return of buyers will be signaled by the crossing of 13728.25. This might provide enough rising momentum to test the 13831.25 to 14105.75 short-term retracement zone. This is the last possible barrier level before the big peak at 14298.00.

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