{"id":440553,"date":"2026-10-21T20:40:15","date_gmt":"2026-10-21T13:40:15","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/the-sp-500-holds-gains-despite-pushback-on-an-imminent-us-iran-deal-as-hopes-stay-high-ahead-of-midterms-440553\/"},"modified":"2026-10-21T20:40:15","modified_gmt":"2026-10-21T13:40:15","slug":"the-sp-500-holds-gains-despite-pushback-on-an-imminent-us-iran-deal-as-hopes-stay-high-ahead-of-midterms","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/the-sp-500-holds-gains-despite-pushback-on-an-imminent-us-iran-deal-as-hopes-stay-high-ahead-of-midterms-440553\/","title":{"rendered":"The S&P 500 holds gains despite pushback on an imminent US-Iran deal as hopes stay high ahead of midterms"},"content":{"rendered":"
\n

The S&P 500 rallied
\n yesterday after Al-Arabiya reported that Qatar and Pakistan presented a
\n compromise proposal that could pave the way for an agreement, but the bullish momentum
\n faded after a diplomat involved in the talks subsequently pushed back against
\n reports that a deal was close.<\/p>\n

Despite the pushback, the
\n market didn\u2019t erase the gains as hopes for a breakthrough before the midterm
\n elections grew given the recent increase in positive headlines. A deal would probably
\n send the S&P 500 to new all-time highs on easing inflation and rate hike
\n concerns, and improving growth prospects. A prolonged stalemate, on the other
\n hand, might keep the upside limited. <\/p>\n

This week, we have also the
\n US Flash PMIs on Friday. The data will likely be important in light of the growing
\n concerns about the economic outlook. Credit spreads continue to widen, and the
\n Federal Reserve is forced to keep a hawkish bias amid higher inflation, so there
\n are no bullish drivers at the moment. <\/p>\n

If the data
\n disappoints, growth concerns will likely increase, and we could see another
\n selloff in the S&P 500. Better than expected data, on the other hand, might
\n lead to a relief rally in the short-term but it wouldn\u2019t change the bigger
\n picture as it would just reinforce the need for rate hikes. <\/p>\n

\u00a0<\/p>\n

S&P 500 TECHNICAL ANALYSIS \u2013 DAILY TIMEFRAME<\/p>\n<\/p>\n

On
\n the daily chart, <\/a>we can see that
\n <\/a>the S&P 500<\/a>(CFD contract) is testing the broken trendline. The sellers will
\n likely pile in around these levels, with a defined risk above the trendline, to
\n position for a drop into the 7,500 level, with the 7,613 level as the first
\n target. The buyers, on the other hand, will want to see the price rising back
\n above the trendline to start positioning for a rally into new record highs. <\/p>\n<\/p>\n

S&P 500
\n TECHNICAL ANALYSIS \u2013 4 HOUR TIMEFRAME<\/p>\n<\/p>\n

On
\n the 4 hour chart,<\/a> we have a
\n resistance zone around the 7,760 level. That\u2019s where we can expect the sellers
\n to step in, with a defined risk above the resistance, to position for new lows.
\n The buyers, on the other hand, will look for a break higher to pile in for a
\n rally into new highs.<\/a><\/p>\n<\/p>\n

S&P 500 TECHNICAL
\n ANALYSIS \u2013 1 HOUR TIMEFRAME<\/p>\n<\/p>\n

On the 1 hour chart, we
\n have a minor upward trendline defining the recent pullback. If the price falls into
\n the trendline, we can expect the buyers to lean on it, with a defined risk
\n below it, to target a break above the resistance. The sellers, on the other hand,
\n will look for a break lower to increase the bearish bets into new lows. The red
\n lines define the average daily range<\/a> for today. <\/p>\n

UPCOMING CATALYSTS<\/p>\n

Tomorrow<\/a> we get the latest US
\n Jobless Claims figures, while on Friday we conclude the week with the US Flash
\n PMIs. <\/p>\n

\u00a0<\/p>\n

This article was written by Giuseppe Dellamotta at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The S&P 500 rallied yesterday after Al-Arabiya reported that Qatar and Pakistan presented a compromise proposal that could pave the way for an agreement, but the bullish momentum faded after a diplomat…<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-440553","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/440553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=440553"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/440553\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=440553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=440553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=440553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}