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November 30th - OPEC+ is about to hold a meeting to assess the global oil market. Given the increasingly apparent signs of oversupply, the alliances oil-producing countries are still expected to pause supply increases in the first quarter of next year. Several representatives indicated that the Saudi- and Russian-led alliance is likely to adhere to the plan reached earlier this month to make a modest production increase in December, followed by stable production levels for the first three months of next year. While this pause demonstrates some caution from OPEC and its partners after their rapid resumption of oil production earlier this year, it still leaves the global market facing a significant oversupply in early 2026, potentially putting further pressure on oil prices.Ukrainian President Volodymyr Zelenskyy announced that he has appointed former Ukrainian Ambassador to the United States, Irina Markarova, as his advisor on reconstruction and investment.On November 30th, Canadian Solar announced that it plans to adjust its US market business by establishing two new joint ventures, M and N, with its controlling shareholder, Canadian Solar Inc. (CSIQ). CSI will hold 24.9% of the shares, and CSIQ will hold 75.1%. Company M will focus on the US photovoltaic business, while Company N will focus on the US energy storage business. Simultaneously, the company plans to restructure its US manufacturing plant, with CSIQ holding 75.1% and CSI holding 24.9%, to obtain a one-time equity transfer consideration and subsequent ongoing equity gains from the 24.9% stake in the US business. This transaction and the waiver of commitments have been approved by the board of directors and are subject to shareholder approval.On November 30th, Baili Tianheng announced that its wholly-owned subsidiary, SystImmune, recently received a $250 million milestone payment from BMS. According to the cooperation agreement, the company is also eligible for up to $250 million in near-term contingent payments, as well as additional payments of up to $7.1 billion upon achieving specific development, registration, and sales milestones.On November 30th, Zhuochuang Information announced that it submitted an application to the Hong Kong Stock Exchange on November 28th, 2025, for the issuance of overseas listed shares (H shares) and listing on the Main Board of the Hong Kong Stock Exchange. The application materials for this issuance and listing were also published on the Hong Kong Stock Exchange website on the same day. The issuance and listing are subject to approval, authorization, or filing by relevant government agencies, regulatory bodies, and stock exchanges, and will be implemented only after comprehensive consideration of market conditions and other factors. Therefore, the matter remains subject to uncertainty.

E-mini S&P 500 Index (ES) Futures Technical Analysis – Tech Sector Recovery Helping to Pare Earlier Losses

Cory Russell

Jul 15, 2022 15:14

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A jump in recession worries was sparked by dismal quarterly reports from two major U.S. banks and hotter-than-expected consumer and producer inflation data. As a consequence, September E-mini S&P 500 Index futures are down as of late Thursday, although they are still off their intraday lows.


Following the release of JPMorgan Chase & Co. and Morgan Stanley's second-quarter results, the benchmark index started the cash market with a significant decline. Both disclosed declining profitability and issued warnings about an upcoming economic recession.


September E-mini S&P 500 Index futures are now trading at 3795.50, down 9.0 or -0.24 percent, at 18:04 GMT. This is higher than the day's low of 3723.75. The S&P 500 Trust ETF (SPY) is down $0.44 or 0.12%, trading at 378.39.


Late in the afternoon, losses are being reduced, and the technology sector is now in the black thanks to a recovery in semiconductor prices.

The near future

The response of traders at 3804.50 will probably influence the movement of the September E-mini S&P 500 Index into Thursday's closing.

Positive Scenario

The existence of buyers will be confirmed by a prolonged advance over 3804.50. Look for a probable burst into the minor retracement zone of 3837.00 to 3863.50 if this move generates enough upward momentum. The resistance cluster at 3922.00 is the next possible resistance after this location.


The primary trend will switch to up if a transaction is made through 3922.00. The uptrend will be confirmed by a move through 3950.00, but I won't start getting enthusiastic about the upside until I see a close over the main Fibonacci level at 3988.75.

Grizzly Situation

Sellers will be there if there is a persistent move below 3804.50. The short-term 50 percent mark at 3794.50 must be broken below to signal that the selling is intensifying. This might result in a swift breach into the 3757.75 short-term Fibonacci level. Before the intraday low at 3723.75, this is the final possible support.


The downtrend will be confirmed if 3723.75 is taken out, with 3639.00 serving as the next significant drop objective.

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