Outlook 04/13: Stock futures gap down on Sunday as oil prices surged after President Donald Trump announced a blockade of the Strait of Hormuz, with peace talks between the U.S. and Iran over the weekend ending without a deal. The breakdown of negotiations in Islamabad reignited worries that the Iran war will last longer than feared, leading to higher oil prices that will continue to strain economies worldwide. Investors are now back to the drawing board trying to reassess the fair value of stocks now that it’s clear that there is no end in sight to the conflict in the Middle East and there will be more saber rattling over this waterway between the U.S. and Iran this week. The only issue that matters to the markets is free traffic in the Strait of Hormuz. First-quarter earnings season unofficially kicks off this week. The nation’s largest banks will get it started, with Goldman Sachs slated to release results on Monday. Citigroup, Wells Fargo, JPM Chase, Morgan Stanley and Bank of America are all on the docket later this week.
ESM26 (Jun2026): YVAH 6870 YPOC 6857 YVAL 6849 GAP 6856
/ES Plan: Last session market closed bearish, and overnight, after bearish reopening, looks bullish still moving below previous value/range, so these're the opening and initial balance options for current session:
Questions via private twitter direct message (RTH)
