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On June 27, following the US militarys airstrikes against Iran on June 26, US Vice President Vance stated that if Iran resorts to violence, it will face a military response. Vance posted on social media that day: "Iran signed a ceasefire agreement, and we have honored it. If they have objections to how the memorandum of understanding is being implemented, they can communicate directly by phone. But if violence is used, it will be met with a military response." Earlier on June 26, the US Central Command issued a statement saying that the US military launched strikes against Iran that day in response to the attack on a merchant ship transiting the Strait of Hormuz the previous day.On June 27, Nasdaq announced that SpaceX (SPCX.O) will be included in the Nasdaq 100 Index, subject to final eligibility requirements. Funds tracking the index are expected to begin buying its shares after the market closes on July 6, before the formal inclusion. SpaceX is expected to have a weighting of less than 1% in this technology-heavy index.IMF Chief Economist Guransha: The conflict involving Iran has not led to a further surge in oil prices, as countries have released strategic reserves and refineries have adjusted their production.IMF Chief Economist Guransha: Following the implementation of tariffs by the United States, a new trade relationship has emerged that does not include the United States.The US military stated that it will maintain a continued presence and remain vigilant to ensure that all provisions of the Iran nuclear deal are observed, implemented, and fully effective.

S&P 500 Price Forecast – Stock Markets Continue to See Selling Pressure

Skylar Shaw

Sep 30, 2022 15:09

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Technical Analysis of the S&P 500

Due to the continued strong downward pressure on stock markets, the S&P 500 E-mini contract has been quite bearish throughout Thursday's trading session. In the end, a lot of things are happening all around the globe, and the US dollar is strengthening. The S&P 500 won't do well in that climate, and neither will any other stock index, for that matter. I like fading rallies, and I also enjoy the notion of shorting those who do experience that break down below the 3600 mark.


The S&P 500 will likely have dropped below the 3500 level by then, which is a big, round, psychologically meaningful number. In the end, this is a market that, given enough time, should see a lot of volatility and, therefore, a lot of causes for people to feel uneasy. Nevertheless, bear market rallies have a reputation for being rather nasty, so an occasional snap to the upside is possible.


Given the market's continued exposure to a lot of outside unfavorable impact, they will almost certainly remain selling opportunities. Interest rates, global slowdowns, and a slew of other geopolitical concerns are all producing problems at the moment. In the end, I believe that in this situation, with enough time, we should see significant downward pressure. In light of this, maintain a manageable position size and refrain from going all in on each transaction you make. In a market like this, sound money management is essential.

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