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August 3 - On August 2, local time, US President Trump, when discussing Iran, stated that an agreement already exists regarding the Strait of Hormuz, and an agreement on denuclearization will also be reached. Trump indicated that the US will hold negotiations with Iran on August 3.August 3 - US President Trump announced on August 2 that the United States will hold talks with Iran on August 3.US President Trump: (When asked about the withdrawal of US troops from Kuwait and Bahrain) No comment.On August 3rd, US President Trump stated on Sunday (Eastern Time): "The strike against Iran was cancelled at the request of Saudi Arabia, the UAE, Qatar, and Iran. If it werent for their request, a massive attack on Iran would have been launched last night. Iran is aware of the scale of that attack. I believe there is an agreement on the Strait of Hormuz, and a denuclearization agreement will be reached. We are in talks with them in the form of negotiations, starting tomorrow afternoon (Tuesday morning Beijing time). We are ready to act." Trump also addressed the Japanese yen: "The United States intervened because of our good relationship with Japan. We have always supported Japan, and the United States has gained economic benefits from the relevant arrangements."Conflict Situation 1. United States – ① Trump: Agreed to cancel strikes against Iran. ② U.S. Central Command: A U.S. Marine Corps F-35C stealth fighter took off from the USS Abraham Lincoln aircraft carrier, which is sailing in the Arabian Sea to support the U.S. blockade of Iran. 2. Israel – Israel Defense Forces: Killed two Hamas commanders in Gaza over the weekend. ② Israel claims Netanyahu learned of the U.S. call for a halt to strikes against Iran through Trumps social media. ③ The Israel Defense Forces remain on high alert today, believing Iran may create unforeseen circumstances. 3. Iran – ① Iranian military: Trump called Irans demand to stop the attacks a "lie." ② A spokesperson for the Iranian Revolutionary Guard said the strike on the Amazon data center in Bahrain was a response to U.S. action; the spokesperson did not specify the timing of the strike. U.S.-Iran Negotiations 1. Iran – ① Iranian President: The memorandum of understanding with the United States will be central to our future diplomatic relations. ② Iranian Parliament National Security Committee: Mediators are assisting in the restoration of the memorandum of understanding between Iran and the United States, and all parties have exchanged views on all issues. 2. United States – ① Rubio: The US strikes have made Iran more willing to negotiate; the era of "negotiating without consequences" is over. Strait of Hormuz 1. Iranian media: Reports that Iran has agreed to reopen the Strait of Hormuz are false. 2. Diplomatic sources report that Qatari diplomats are negotiating with Iran to secure the support of the Iranian Revolutionary Guard for arrangements related to the Strait of Hormuz. 3. Iranian Foreign Ministry: Negotiations with Oman on the Strait of Hormuz have entered the final stage. The Strait of Hormuz will not return to its pre-war state, and the issue of reopening is unrelated to the negotiations with Oman. Other developments 1. Saudi Foreign Minister speaks with Qatari Prime Minister. 2. Gulf states are dissatisfied with the US lack of a strategy against Iran. 3. Acting Iranian Defense Minister: Iran will not be "caught off guard" by its enemies, nor will it stand idly by. 4. Iranian Foreign Minister Araqchi speaks with Iraqi Foreign Minister; they discuss the latest developments in the region and ways to strengthen bilateral and regional cooperation. 5. The OPEC+ Joint Ministerial Monitoring Committee (JMMC) met on Sunday and stressed the importance of protecting international sea lanes to ensure the continued flow of energy.

S&P 500 Price Forecast – Stock Markets Continue to Worry About Rates

Jimmy Khan

Feb 22, 2023 16:31


Technical Analysis of the S&P 500

The S&P 500 E-mini contract started overnight trading poorly and hasn't been making a lot of sense. Yet, the contract's high level of volatility persists, and as a result, downward pressure is beginning to build. It's important to note that the 200-Day EMA and the 50-Day EMA are located immediately below. Given that they are both rather flat, there may not actually be any momentum.


As it is slightly above the psychologically and structurally significant 4000 level, this may pave the way for a support level to develop in that approximate area. You must keep in mind that earnings season is now underway because it could cause the market to fluctuate. The moving averages and the psychologically significant 4000 level, if we were to break down below them, might drive the futures market and the index itself significantly lower.


It thus creates the chance of a decline down to the 3900 level, where we had experienced some buying pressure. Following that, there comes the 3800 level, which is considerably more significant and will get a lot of attention. When it comes to whether or not the market can save itself, we would be in that general area hanging on by a thread.


The previous two candlesticks have undoubtedly looked pretty bearish, and I think that may have some momentum built up in it. If the market were to flip around and bounce, then it may try to move towards the 4200 level. The minutes from the Federal Open Market Committee meeting, which are released on Wednesday, will undoubtedly also be relevant. This ought to provide traders a good indication of what the Federal Reserve members discussed during the meeting and whether or not there is an overall hawkish mindset or if there are any ice cracks appearing. This will have a significant impact on the market.

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