Published: 10 March 2026,07:50
Daily Market Analysis New
*U.S. stocks initially plunged as oil surged above $120 on concerns over disruptions at the Strait of Hormuz, sending the Dow Jones Industrial Average down nearly 900 points intraday.
*Comments from Donald Trump suggesting the military campaign could end “very soon” eased market fears, sparking a strong afternoon recovery in equities.
*The Nasdaq Composite led gains with a 1.4% rise, while the S&P 500 and Dow also closed higher despite earlier losses.
Market Summary:
U.S. equities navigated a tumultuous session on March 9, characterized by sharp early declines followed by a robust afternoon recovery, as investors balanced persistent geopolitical tensions against signals of potential de-escalation from President Donald Trump.
The day began with major indexes plunging amid heightened fears surrounding the ongoing U.S.-Israeli military conflict with Iran, which had entered its second week and driven oil prices to intraday highs exceeding $120 per barrel on concerns over Strait of Hormuz disruptions. This escalation stoked anxieties about inflationary pressures and supply chain strains, contributing to initial losses of up to 2-3 percent across the board, with the Dow Jones Industrial Average shedding nearly 900 points at its nadir.
Sentiment shifted dramatically in the latter half of the session, propelled by Trump’s remarks during a press conference at his Doral resort. The president described military operations as “very complete, pretty much” and “very far ahead of schedule,” hinting at a possible conclusion “very soon” despite ruling out an end within the week. These comments, coupled with warnings of intensified retaliation if Iran impedes oil flows but overall projecting confidence in a swift resolution, helped alleviate immediate risk aversion, prompting a reversal in oil prices that saw Brent crude retreat toward $90 by the close .
The Nasdaq Composite spearheaded the rebound, climbing 1.4 percent to close near 22,695, buoyed by technology stocks benefiting from easing concerns over chip supply shortages linked to regional instability. The S&P 500 advanced 0.8 percent, while the Dow rose 0.5 percent, erasing its earlier deficits to finish nearly 240 points higher. The small-cap Russell 2000 gained 1.1 percent amid bargain-hunting in undervalued sectors.
Underlying Concerns Persist
Despite the late-session surge, underlying market concerns over the Middle East persisted, with analysts noting potential for prolonged volatility if Trump’s optimistic timeline proves overly ambitious. Iran’s recent appointment of Mojtaba Khamenei as supreme leader and ongoing hardline demonstrations suggest the conflict could extend beyond the president’s projections .
The session underscored the market’s acute sensitivity to headline risks, with Trump’s rhetoric serving as a pivotal turning point. Sustained uncertainty around the Middle East and domestic economic indicators suggests continued choppiness in the near term, with investors monitoring fresh administration updates, military developments, and incoming data for directional cues.
Technical Analysis
The S&P 500 has established a clear bearish structure following its rejection near the critical 7,000 level. The index has been trading in a definitive lower-high and lower-low price pattern since late January, when it failed to sustain momentum above 7,000 and began a measured descent that accelerated through February and into March.
The index recently staged a strong technical rebound from its lowest close since mid-December at 6,740, but this recovery now faces its first significant test. Price action is approaching the downtrend resistance line, a zone that has consistently capped upside attempts. Multiple analyses confirm that the 6,800 region now represents formidable resistance, where the broken 50-day and 100-day moving averages have converted from support to resistance. A sustained move above this zone would be required to challenge the prevailing bearish bias.
Momentum indicators firmly support the bearish interpretation. The Relative Strength Index remains suppressed below the 50-midpoint, reflecting sustained selling pressure without yet reaching oversold territory that might signal exhaustion. The Moving Average Convergence Divergence continues to trace a lower-low pattern, with the MACD line at -20.54 and the histogram showing six consecutive deeper negative bars with no visible convergence, confirming that downside momentum remains structurally dominant.
Resistance Levels:6882.80, 6984.40
Support Levels: 6740.00, 6619.40
Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.
Sign up for a PU Prime Live Account with our hassle-free process.
Effortlessly fund your account with a wide range of channels and accepted currencies.
Access hundreds of instruments under market-leading trading conditions.
Trading Platforms
Learn
About PU Prime
Corporate
Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.
Thank You for Your Acknowledgement!
Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.
Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.
Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.
Thank You for Your Acknowledgement!
