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April 18 - According to the Wall Street Journal, US officials stated that the US military is preparing to board and seize Iranian-linked oil tankers and merchant ships in international waters in the coming days, expanding its naval operations beyond the Middle East. This plan comes as the Iranian military continues to tighten its control over the Strait of Hormuz, attacking several merchant ships on Saturday and declaring the waterway under "strict Iranian control." These developments have caught shipping companies off guard, just a day after the Iranian Foreign Minister declared the strait fully open to merchant ships, a statement praised by President Trump.Domestic News: 1. Two Chinese citizens tragically died in a car accident in the Russian Far East. 2. The Eastern Theater Command conducted joint combat readiness patrols in relevant sea and air areas of the East China Sea. 3. Rumors circulating online that "new environmental regulations have increased chicken farming costs, leading to higher egg prices" are false. 4. The 27th meeting of the China-Switzerland Joint Economic and Trade Committee was held in Bern, Switzerland. 5. Eight departments, including the Ministry of Public Security, stated that they will maintain a high-pressure stance against tax-related crimes such as issuing false invoices and tax evasion. 6. Seven e-commerce platforms expressed their sincere acceptance of the State Administration for Market Regulations penalties and their determination to fulfill their food safety responsibilities. 7. DeepSeek is reportedly launching its first external financing round? An executive from a large state-owned equity institution stated that the news is likely true, but they are currently unable to invest. International News: 1. The US Department of Energy will release the third batch of strategic petroleum reserves. 2. Progress has been made in a new round of dialogue between the Congolese government and anti-government forces. 3. Iraq stated that oil exports from all its oil fields will resume within days. 4. ECB Governing Council member Demarco stated that the ECB is not in a hurry to act and will receive more information in June. 5. According to the Wall Street Journal: The U.S. Department of Justice informed French law enforcement that it will not assist them in investigating Elon Musks social media platform X. 6. Iran Situation—① Iran: Due to the U.S. "breach of promise," it will control passage through the Strait of Hormuz until the war is completely over. ② Iran stated that it has not yet agreed to hold the next round of negotiations with the U.S. ③ Trump: The U.S. and Iran are in dialogue, and there will be news before the end of today. Iran cannot blackmail us by closing the strait again. ④ In contact with maritime intelligence: The Iranian Revolutionary Guard fired on oil tankers attempting to cross the Strait of Hormuz. ⑤ According to the Wall Street Journal: U.S. officials said that the U.S. military is prepared to board and seize ships linked to Iran in international waters in the coming days.According to the Wall Street Journal, U.S. officials say the U.S. military is prepared to board and seize Iranian-linked vessels and merchant ships in international waters in the coming days.On April 18, the Security Service of Ukraine (SBU) announced on social media that it had struck three Russian warships in Crimea. The SBU stated that the struck warships included the Russian Navys large landing ships "Yamal" and "Azov," as well as a warship of unidentified type. Other reports indicated that a Russian Project 21980 anti-sabotage boat "may have been hit."On April 18, Naghdi, an advisor to the commander-in-chief of Irans Islamic Revolutionary Guard Corps, said in an interview that Irans missile and drone production is still ongoing.

S&P 500 Price Forecast — Stock Market Looking for Footing

Florala Chen

Aug 24, 2022 15:54

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In the E-mini contract, the S&P 500 has gained a little bit of stability during the Tuesday trading session as we get closer to a critical support level.

Technical Analysis of the S&P 500

In the early stages of the E-mini contract, the S&P 500 has moved in a rather narrow range. Having said that, this week is the Jackson Hole Symposium, which is practically guaranteed to make a lot of noise. In this case, I believe the trading public will be paying great heed to central bankers' pronouncements, which, of course, may sometimes result in complete pandemonium.


In this case, I believe we could have a brief rebound followed by increased selling pressure. The 200-Day EMA is located around 4185, and there is considerable resistance at the 4300 level above. It's also important to pay attention to the 50-Day EMA, which is at 4082 and climbing below; it may provide dynamic support.


I do believe that it is extremely possible that traders will look to the 50-Day EMA to salvage the market upward, regardless of whether or not this turns out to be the case. If we break it down below that, the market is probably just trying to get to the 4000 level. Anything below the 4000 mark indicates that we have once again altered our mentality and that more downside is yet to come.


One thing you can certainly bet on, in my opinion, is a lot of noisy volatility, mostly as a result of the central bankers' ranting in Wyoming. They will almost certainly underline their resolve to battle inflation, which means that monetary policies will continue to tighten throughout the globe.

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