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According to Irans Mehr News Agency: Preliminary reports indicate that Iran launched an attack on a US missile launch site in Kuwait.On July 12, local time, US President Trump stated that the US had launched a "fierce strike" against Iran the previous night. In an interview that day, Trump claimed that the US and Iran had reached an agreement the previous day, and Iran was "prepared to give up everything," but hours later, a ship was attacked by a drone. The US military stated that after an attack on a merchant ship in the Strait of Hormuz, the US military launched a new round of strikes against approximately 140 Iranian military targets. This is the third US strike against Iran in a week. There are differing opinions regarding the navigation status of the Strait of Hormuz. Irans Persian Gulf Straits Authority announced on social media on July 12 that the Strait of Hormuz is currently impassable. Trump, however, stated, "As far as the United States is concerned, the Strait of Hormuz remains open."Market news: British Prime Minister-designate Andy Burnham plans to expand the autumn budget. British officials are considering releasing the budget in October.July 12 – As part of a “political strategy” adjustment, Ukrainian President Volodymyr Zelensky is considering replacing the country’s prime minister. With Ukraine preparing for winter amid ongoing threats of Russian attacks, he may nominate a state-owned energy company executive or a former prime minister to succeed him. According to sources, Zelensky is considering appointing Sergei Koletsky, head of the state-owned oil and gas company, or former prime minister and current energy minister Denis Shmyhal for the position. Zelensky met separately with Koletsky and Shmyhal on Sunday and received briefings. He has invited current prime minister Yulia Sviridenko to “take charge of new and important areas with key partners” and thanked her for her “clear, robust, and efficient work” over the past year. Zelensky also met with officials including the mayor of Kharkiv and the defense minister. Zelensky stated that winter preparations are of paramount importance, Ukraine needs to be prepared for any threat, and the transformation of state-owned enterprises must be accelerated.On July 12, 2026, the head of the Asian Department of the Ministry of Foreign Affairs issued a statement regarding the Japanese Foreign Ministers hype surrounding the tenth anniversary of the "South China Sea arbitration ruling" and Japans joint statement with other countries. The Chinese side urgently summoned the chief minister of the Japanese Embassy in China to lodge a solemn representation, expressing strong dissatisfaction and protest. China pointed out that Japan bears historical responsibility for the South China Sea issue and has not yet settled accounts, and has no right to make irresponsible remarks. Japans egregious words and actions challenge the post-war international order and international rule of law, adhere to double standards, distort facts, undermine peace and stability in the South China Sea, and violate the common interests and wishes of regional countries. This has aroused historical vigilance and strong indignation from the international community, including China, regarding Japans aggression and colonial atrocities since modern times. China will resolutely and forcefully counter Japans provocations and firmly defend its territorial sovereignty and maritime rights. China also lodged a strong protest regarding the Taiwan issue, Japans abandoned chemical weapons, Japanese parliamentarians unwarranted comments on Chinas ethnic policies, and a series of negative developments in Japans military and security.

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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