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May 26 - A 6.9-magnitude earthquake struck the Antofagasta Region in northern Chile on May 25, according to the National Seismological Center of the University of Chile. No casualties or damage have been reported so far. The earthquake occurred at 5:52 p.m. local time on May 25 (5:52 a.m. Beijing time on May 26), with its epicenter located 20 kilometers northeast of Calama, Antofagasta Region, at a depth of 114 kilometers. The Chilean Navys Hydrographic and Oceanographic Service tsunami warning department stated that the earthquake would not trigger a tsunami. Chile is located in the Pacific Ring of Fire, a region prone to earthquakes.On May 26th, it was reported that Meituan and SF Express have opened over 1,400 low-altitude air routes, achieving routine operation of drone logistics and gradually becoming profitable. Meanwhile, large-payload, long-range cargo drones independently developed by central state-owned enterprises, such as the Changying-8 and HH-200, have completed their maiden flights, and a preliminary "trunk-branch-terminal" low-altitude logistics network led by drones is emerging. When will large-scale commercialization of low-altitude logistics be realized? At the recent 2026 World Drone Conference, attendees believed that as the fastest-developing scenario in the low-altitude economy, low-altitude logistics is transitioning from routine operation to commercial profitability, and is expected to experience explosive growth in the next two to three years.U.S. stock index futures rose, with Nasdaq futures up 1.3%, S&P 500 futures up 0.9%, and Dow Jones futures up 0.87%.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 6.5 occurred near northern Chile (23.13 degrees south latitude, 69.52 degrees west longitude) at 05:52 on May 26. The final result is subject to the official rapid report.The European-Mediterranean Seismological Centre reports that a 6.1-magnitude earthquake struck Antofagasta, Chile, at a depth of 111 kilometers.

E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis

Skylar Shaw

May 24, 2022 10:18

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E-mini for June Late Monday, Dow futures were challenging their session highs as gains from banks and a resurgence in megacap market leaders fueled a broad-based rally after Wall Street's largest weekly loss since the dotcom implosion more than two decades ago.

 

At 20:15 GMT, the blue chip average is up 653 points, or 2.09 percent, to 31866. The SPDR Dow Jones Industrial Average ETF (DIA) is now trading at $318.81, up $6.39 (2.04%).

 

Although robust gains in software and tech-related growth companies like Apple Inc and Microsoft Corp aided the E-mini Dow, it was the banking stocks that largely propelled the market's momentum.

 

JPMorgan gained 7% as the bank said it expects to meet key return objectives sooner than expected as interest rates rise, boosting its lending division. Citigroup and Bank of America both gained 7%, while Wells Fargo gained more than 6.9%.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The major trend will turn to up if you trade through 32692. The return of the decline will be signaled by a move through 30585.

 

32692 through 30585 is the minor range. The E-mini Dow crossed to the strong side of its pivot around 31639 late Monday, establishing support.

 

34027 to 30585 is the short-term range. The next upward target range is the retracement zone from 32306 to 32712. The main summit at 32692 is located inside this zone.

Short-Term Prospects

Trader response to the pivot at 31639 will influence the direction of the June E-mini Dow through the closing on Monday and early Tuesday.

Positive Outlook

A prolonged rise over 31639 signals that short-covering and counter-trend buying are becoming more active. Look for a burst through the short-term 50% mark at 32306 if this move generates enough upward momentum.

Bearish Prospects

The presence of selling will be signaled by a persistent rise below 31639. This might lead to a brief break at 31255 and a small pivot. A challenge of this level might attract counter-trend buyers, but if it fails, expect for a retest of last week's small bottom around 30585.

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