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Foreign investors bought Japanese government bonds worth -164.6 billion yen in the week ending July 4, with the previous value revised from 105.26 billion yen to 105.91 billion yen.Japan bought 512.7 billion yen of foreign stocks in the week ending July 4, compared with 190.6 billion yen in the previous period.Japan bought 165.68 billion yen in foreign bonds in the week ending July 4, compared with 18.28 billion yen in the previous period.Foreign investors bought 611.7 billion yen of Japanese stocks in the week ending July 4, compared with 651.3 billion yen in the previous week.July 10th, a report from S&P Global Market Intelligence showed that German companies are most optimistic about the economy since early 2022, and plan to increase investment for the first time in two years. In its June "German Business Outlook," S&P said that companies emphasized that an upcoming increase in public spending, coupled with technological advances, is expected to support a broader economic upturn in the next 12 months. The report also showed that for the first time since June 2023, the number of companies planning to increase capital expenditures and research and development spending exceeded those expecting cuts. "German companies are gradually regaining confidence," said Phil Smith, deputy director of economics at S&P. However, he added, "The current geopolitical backdrop means that companies overall remain cautiously optimistic about the outlook and will never completely relax spending."

E-Mini Dow Trading on Strong Side of Main Retracement Zone

Skylar Shaw

Apr 21, 2022 10:06


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Investors brushed over weak Netflix results, which weighed on the S&P 500 and NASDAQ Composite.


June E-mini Dow Jones Industrial Average futures are trading higher just before the cash market opens on Wednesday. Meanwhile, Procter & Gamble and International Business Machines are leading the blue chip average with solid results.


June E-mini Dow Jones Industrial Average futures are trading at 34966, up 125 points or 0.36 percent, at 12:27 GMT. The SPDR Dow Jones Industrial Average ETF (DIA) closed at $349.14 on Tuesday, up $5.04 or 1.47 percent from its previous close.


In stock news, Procter & Gamble's shares rose by 1% after reporting better-than-expected profits.


Procter & Gamble also raised its full-year sales forecast. Another Dow component, IBM, surged more than 1% after reporting better-than-expected profits and sales.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is up. Buyers knocked out the last major top at 34820 on Tuesday, bringing it back up. The primary trend will be changed to down if a transaction is made through 34002.


The minor trend is upwards as well. A trade through 34179 will shift momentum to the downward and alter the minor trend to down.


36708 to 32086 is the primary range. The market is now edging closer to the top of its retracement zone, which runs from 34942 to 34397.

Technical Forecast for the Daily Swing Chart

Trader response to 34942 is expected to impact the direction of the June E-mini Dow Jones Industrial Average futures contract on Wednesday.

Possibilities for Growth

The presence of buyers will be shown by a prolonged advance over 34942. The uptrend will be reaffirmed if the next big top at 35015 is taken out. This might lead to a run to the major peak at 35281 on March 29. This might be a tipping point for a move higher, with the February 9 major peak at 35649 being the next objective.

Scenario that is bearish

The presence of selling will be signaled by a persistent rise below 34942. We might see a break through the 50% mark at 34397 if this develops enough downward momentum.

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