S&P500 geopolitics and energy inflation are setting the toneUS 500 (per 1.0)TRADENATION:US500TradeNationMiddle East tensions continue to dominate market sentiment, with energy markets driving cross-asset volatility. Brent crude has surged sharply — first jumping over 7% in its biggest daily gain since March 2022, then extending higher above $85 per barrel — as conflict risks intensify and tanker traffic through the Strait of Hormuz remains effectively halted. European natural gas futures also posted an extraordinary spike after Qatar shut down LNG production. The US administration has indicated no immediate plans to release oil from strategic reserves, reinforcing supply concerns. The escalation — including reported drone attacks in Riyadh and increasingly firm rhetoric from Washington — is adding to fears of a prolonged conflict. China has called for safe passage through Hormuz, underscoring the global economic stakes. For S&P 500 trading today, the backdrop is risk-off. Higher oil prices raise renewed inflation concerns, potentially complicating the Fed’s policy outlook and pressuring rate-sensitive equities. Futures are pointing lower, with energy stocks likely outperforming while consumer discretionary, transports and other fuel-sensitive sectors face pressure. In short, geopolitics and energy inflation are setting the tone, with downside risk prevailing unless tensions de-escalate. Key Support and Resistance Levels Resistance Level 1: 6885 Resistance Level 2: 6954 Resistance Level 3: 6990 Support Level 1: 6730 Support Level 2: 6694 Support Level 3: 6646 This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.