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The Secretary of Irans Supreme National Security Council said: If the evil alliance of Zionism and the United States makes another mistake, the region will become their hell!According to CBS News, the United States is seeking to revoke the citizenship of 17 U.S. citizens on suspicion of fraud.On June 8th, Rob Guest Pinford, a lecturer in international security at Kings College London, commented on the latest developments in the Middle East, stating that as the situation in the Strait of Hormuz stabilizes, Iran appears to be gradually entering what observers call a "neither war nor peace" state. Pinford pointed out, "Currently, Irans attitude is relatively stable, and it is not in a hurry to return to the negotiating table to seek the lifting of sanctions." He believes that compared to Iran, the United States appears to be more clearly eager to push for an agreement, despite Trumps occasional hardline rhetoric. "There is a clear contrast in the signals Trump is sending," Pinford said. "On the one hand, he frequently makes strong statements about restarting war and destroying civilization; on the other hand, he posts that an agreement is within reach." Meanwhile, when discussing Israeli Prime Minister Netanyahus decision-making logic, Pinford pointed out that Netanyahu needs to prove that Israel is taking a tough stance against Hezbollah in Lebanon, and not just implementing Trumps policy intentions. He said, "Netanyahu must demonstrate that he is cracking down hard on Hezbollah, rather than simply acting according to Trumps demands."On June 8th, WeChat announced that it is officially providing developers with the ability to easily access the WeChat AI ecosystem. Users can now access AI application services in mini-programs through the WeChat AI Agent. Meituan stated that as one of the first internal testing teams, it had previously collaborated with the WeChat team to develop and test the integration. It is understood that in the future, users will be able to access local life services such as Meituan Waimai (Meituan Takeout) through the WeChat Agent, achieving a more intelligent and convenient AI-powered life service experience.On June 8th, KBRA Senior Director Ken Egan stated that further interest rate hikes by the European Central Bank could push the Eurozone economy towards unnecessary stagflation. In a report, he noted, "Reputation is paramount. While some tightening measures may be reasonably necessary to stabilize expectations, interest rates are a crude tool for addressing supply shocks, especially when growth momentum is weak." Egan stated that the recent rise in Eurozone inflation is driven more by external energy prices than by domestic overheating. He pointed out, "Confidence is very fragile, and if policy is over-corrected, the energy shock could potentially turn into a stagflation risk." The ECB is expected to raise interest rates by 25 basis points this week.

The S&P 500 Continues to Face Overhead Pressure for the Week

Cory Russell

Apr 24, 2022 10:16

S&P 500 Weekly Technical Analysis

During the week, the S&P 500 attempted to rebound, but ran into enough resistance near the 4500 level to turn things around and show symptoms of weakness. As a result, the market seems to be struggling, and we may be staring at the 4100 level in the near future.


Looking at this chart, it's clear that we have further downward to go, but I believe it's just a matter of time until we break down. The whole Thursday and Friday sessions were a nightmare, and they aren't showing any signs of slowing down. As a result, I anticipate the market will not only retest, but may potentially break below the previous low. 


If we do, I believe the downward acceleration would be rather severe. Keep in mind that Wall Street is just now coming to terms with the possibility that they were mistaken about the Federal Reserve. The Federal Reserve will have to tighten monetary policy forcefully, which will damage everything, including the stock market.


We could make a case for attempting to shift the general structure of the market if we turn around a break above the 4500 level, but right now things seem quite bad, and I believe it's just a matter of time until we see a huge move to the downside. It would be a really bullish move to flip around and knock out the top of the candlestick for this week.

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