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The U.S. military stated that U.S. Central Command has eliminated the threat of attack and is targeting Iranian military facilities that attacked U.S. forces.US military: No US assets were attacked.On May 8, local time, a spokesperson for the Hatem Anbia Central Command of the Iranian Armed Forces issued a statement claiming that the US military violated the ceasefire by striking an oil tanker sailing from the waters off Jask, Iran, towards the Strait of Hormuz, and another vessel entering the Strait of Hormuz opposite the port of Fujairah in the United Arab Emirates. The statement also claimed that the US, in cooperation with some regional countries, launched airstrikes against civilian areas along the Iranian coasts of Hamir, Sirik, and Qeshm Island. The statement indicated that the Iranian Armed Forces retaliated against US military vessels east of the Strait of Hormuz and south of Chabahar port, claiming "significant damage." The spokesperson emphasized that Iran will respond to any act of aggression.On May 8th, the U.S. Court of Trade ruled on Thursday that President Trumps latest 10% global tariff measures were unfounded, as this comprehensive imposition of tariffs lacked legal basis. The U.S. Supreme Court ruled on February 20th that the Trump administrations large-scale tariffs under the International Emergency Economic Powers Act lacked clear legal authorization. Following the ruling, Trump immediately invoked Section 122 of the Trade Act of 1974, announcing a 10% global import tariff on goods from all countries and regions for 150 days.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.2 occurred near the sea area of Hualien County, Taiwan at 04:57 on May 8. The final result is subject to the official rapid report.

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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