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Boeing service executives said that the supply of cockpit windows is lower than expected, which could lead to delivery delays.Boeing service executives said flight hours in most regions continued to show moderate to good growth.June 7th - According to sources familiar with the matter, U.S. Treasury Secretary Bessenter instructed his team on June 6th to "assess the situation in Gulf allies and calculate the costs of repairing damage caused by Iran." The sources stated that the U.S. intends to utilize relevant mechanisms to transfer frozen Iranian assets to Gulf allies to fund their efforts to "address potential future damage from Iran and carry out reconstruction and repair work." The U.S. will also consider whether to use Iranian assets "to compensate for past losses."June 7th - As the conflict with Iran triggers global inflationary pressures, the European Central Bank (ECB) is expected to raise interest rates by 25 basis points next week, becoming the first major central bank among the G7 to tighten monetary policy. Markets anticipate at least one more rate hike this year. In contrast, the Bank of Canada is likely to keep its rates unchanged, while the Federal Reserve and the Bank of England are expected to remain on hold this month, observing the impact of the Iranian conflict. ECB officials aim to ensure that inflation in the Eurozone does not become deeply entrenched, but a rate hike would come at the cost of further dragging down an already weak economy. ECB President Christine Lagarde is likely to provide a clearer signal on the next steps at the press conference following the decision. Meanwhile, the ECB will also release its quarterly economic forecasts, assessing different scenarios of the energy shocks impact on the regional economy.On June 7th, Willie Walsh, Director General of the International Air Transport Association (IATA), stated that rising jet fuel prices are expected to lead to more airline bankruptcies and industry consolidation. He pointed out that a merger between United Airlines and American Airlines is unlikely due to regulatory hurdles. Walsh also stated that once the Middle East conflict subsides, airlines and hubs in the Gulf region will regain market share. Furthermore, despite disappointing progress in clean fuels, IATA remains committed to its 2050 net-zero emissions target.

Stock Markets Attempting to Build a Bullish Flag

Cameron Murphy

Apr 06, 2022 11:22


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S&P 500 Technical Analysis

During Tuesday's trading session, the S&P 500 dipped a little, but it wasn't a massive sell-off or anything. We look to be attempting to create a bullish flag, and if we can break through the downtrend line that I have shown on the chart, which is essentially the 4585 level, which is also where the previous double top occurred, we could see this market move much higher. 


To be honest, Wall Street is trying to figure out whether the Federal Reserve will come to their rescue or if they will attempt to battle inflation. Currently, it looks that the market will continue to be subjected to a great deal of back and forth pressure as a result of speculation.


If we break below the 50-day exponential moving average, I believe we will be in serious trouble. It's worth noting that last week's Friday candlestick was a hammer, implying that at the very least, the 4500 level will be key, and that there are buyers eager to enter this market. 


I don't believe we can read too much into this market until we get an impulsive candlestick, which we don't appear to be getting right now because we're simply moving sideways. We will, however, have that explosive session that will tell us which way we are more than likely ready to proceed in. Until then, short-term range-bound trading techniques are likely to triumph over all else.

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