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Conflict Status 1. The Iranian Revolutionary Guard claims to have struck a US aircraft carrier and destroyer. 2. Israeli attacks in southern Lebanon have resulted in multiple casualties. 3. Clashes between Yemeni government forces and Houthi rebels have left at least 117 people dead. Strait of Hormuz 1. The Iranian Revolutionary Guard released video footage of its actions against vessels violating regulations, claiming that the US escort was a complete lie. 2. Iran says it will declare the Strait of Hormuz a "no-go zone" in the coming days. 3. Secretary of Irans Supreme National Security Council: The navigational route map for the Strait of Hormuz agreed upon with Oman will be signed in the coming days. 4. Secretary of Irans Supreme National Security Council: Iran will only commit to keeping the Strait of Hormuz open if the US ceases its threats or attacks. 5. UK Maritime Trade Operations Office: 59 vessels passed through the Strait of Hormuz in the past 48 hours. Other Matters 1. Iranian military: Has demonstrated a new mode of resistance and will not surrender to the US. 2. Lebanese President: Israels attacks have exceeded the scope of the ceasefire agreement and the framework agreement for national institutions. 3. Iranian Parliament Speaker: Any future actions targeting Iranian interests and security will be met with a "faster, fiercer, and more painful" response. 4. The UAE, Saudi Arabia, Qatar, and eight other countries issued a joint statement condemning Israels statements regarding the expulsion of Palestinians from the Gaza Strip. 5. Iranian Foreign Ministry: The US waged war but made the whole world pay the price. 6. Iran will raise gasoline prices for heavy users.September 7th - Iranian Foreign Ministry Spokesperson Baghae stated: "The Strait of Hormuz was completely unobstructed until February 28th, when the US and Israel invaded Iran. Washington launched an illegal and barbaric war, disrupting normal commercial shipping; oil tankers stopped sailing, trade was interrupted, and energy prices soared. The US started the war, yet expects the whole world to pay for it, while portraying Iran as the instigator of this chaos. This is utterly absurd."September 7th - According to the Financial Times, citing multiple Western defense and intelligence officials, Europe has failed to effectively deter Russias "hybrid warfare" against the continent and must quickly develop new methods to curb Moscows actions against NATO member states, or risk escalating conflict with the Kremlin. Western officials stated that last months thwarted drone strike on Leipzig/Halle airport, carrying military-grade explosives, highlighted Russias brazenness in its aggressive practices against NATO and the ineffectiveness of existing deterrents. They added that a collective action from European countries is needed to address the issue. A senior Western defense official stated, "It is clear that we are doing far too little to deter provocations that do not violate NATOs Article 5." They added, "The deterrent force we provide is sufficient to prevent Russia from escalating conventional and nuclear warfare. But we really need to rethink our strategy for dealing with hybrid warfare."Ukrainian President Zelensky: We may prefer certain forms of negotiation, but worse is that there are no forms of negotiation at all. I want to thank U.S. Special Envoy for the Middle East, Witkov, and Trumps son-in-law, Kushner, for their roles in restarting the negotiation process today. It is very important that the U.S. team met with the Russian leaders and then with me today to discuss all possibilities. We held trilateral talks with European representatives, as well as a meeting of national security advisors, and I believe we will do everything we can to resume negotiations.Alternative for Germany (AfD) leader Johann Sebastian Weidel: We need to maintain good relations with Russia, and especially with the United States. We are now seeing the US sending representatives to Moscow to mediate between Moscow and Kyiv. This was a role that Germany could have played.

Following the GDP Miss, the E-mini S&P 500 Has Given Up Some of Its Earlier Gains

Skylar Shaw

Apr 29, 2022 10:19

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Following a good earnings announcement from Meta Platforms, June E-mini S&P 500 Index futures are trading higher immediately after the cash market opens, as the benchmark index seeks to recoup from this month's sell-off.


The June E-mini S&P 500 Index is now trading at 4194.75, up 14.50 points or 0.35 percent, at 14:28 GMT. The SPDR S&P 500 Trust ETF (SPY) is now trading at $418.48, up $1.21 or 0.29 percent.


Following a beat on results, Meta's stock jumped roughly 16 percent, indicating that investors may be seeing indications of reprieve in the battered tech industry. Prior to the announcement, the stock was down 48% year to date.

Increased Wages Sentiment in the Market

In addition to Meta's gains, Qualcomm gained more than 8% on the basis of good results, while PayPal gained over 5% despite providing disappointing second-quarter outlook.


Following their quarterly releases, McDonald's, Merck, Eli Lilly, and Southwest were all up on Thursday.


Despite a positive earnings surprise, Caterpillar's stock dropped roughly 5%. After posting weaker-than-expected earnings, Teladoc's stock dropped by more than 44%.


Traders are unconcerned by the US GDP shortfall.


In economic news, the United States' Gross Domestic Product (GDP) unexpectedly fell by 1.4 percent in the first quarter from the previous year, contrary to the 1 percent rise projected by experts polled by Dow Jones. Some investors dismissed the economic downturn, citing the rise in prices and the trade imbalance as the primary causes.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The return of the decline will be signaled by a trade through 4136.75. The major trend will turn to up if the price breaks through 4509.00.


The minor trend is similarly in the negative direction. A trade through 4303.50 will shift momentum to the upside and turn the minor trend to up.

Swing Chart for the Day Technical Prognosis

Trader response to 4220.00 is expected to decide the direction of the June E-mini S&P 500 Index on Thursday.

Possibilities for Growth

The presence of buyers will be shown by a prolonged advance over 4220.25. Taking out the intraday high of 4258.75 would signal that the buying is becoming more powerful. Look for a burst through the resistance cluster around 4299.25 – 4303.50 if this generates enough upward momentum.

Scenario that is bearish

The presence of selling will be signaled by a persistent move below 4220.00. Look for the selling to continue towards 4136.75 if this move creates enough bearish momentum.


Taking out 4136.75 indicates that the selling pressure is increasing. This might lead to a break through the next key bottom at 4129.50, then the year's low at 4094.25.

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