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On October 19th, the U.S. Embassy in Trinidad and Tobago warned American citizens on Saturday to avoid U.S. government facilities located there. The unusual warning comes amid escalating tensions between the United States and Venezuela following a deadly strike against suspected drug traffickers in Caribbean waters. The embassy did not specify the reason for the warning, stating only that "due to the heightened state of alert, please avoid and refrain from traveling to all U.S. government facilities throughout the holiday weekend." The embassy also urged people to "be aware of their surroundings." Monday is Diwali, a Hindu festival widely celebrated in Trinidad and Tobago, where 35% of the countrys 1.4 million people are of Indian descent. Venezuela lies just a few miles from Trinidad. In a coastal community in Trinidad, residents are mourning the disappearance of two fishermen, believed killed in a U.S. strike on Tuesday.On October 19th, two sources familiar with the matter revealed that French luxury group Kering, owner of fashion brands including Gucci, is close to selling its beauty division to LOréal. One of the sources confirmed the transaction is valued at approximately $4 billion, consistent with previous reports. The report stated that through the transaction, LOréal, the worlds largest professional cosmetics and beauty company, will acquire the fragrance brand Creed and gain the rights to develop beauty products for Kerings fashion brands, including Bottega Veneta, Balenciaga, and McQueen. The report also indicated that the transaction could be officially announced next week.Japans Liberal Democratic Party and the Japan Restoration Party agreed to form a coalition government.On October 19, Russian Deputy Chairman of the Security Council Dmitry Medvedev said on the 18th that US President Trump’s failure to provide Ukraine with Tomahawk cruise missiles does not mean that Russia will stop providing other weapons to Ukraine. Russia must be prepared to deal with any situation.Bank of England Governor Bailey: Brexit has had a negative impact on the economy. A large and faster supply shock is expected.

E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Ready to Strike Next Main Top at 34011

Alice Wang

Aug 15, 2022 15:03

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Late in the Friday afternoon, September E-mini Dow Jones Industrial Average futures are trading substantially higher. Expectations of a less rapid pace of future interest rate increases beginning in September are the driving forces behind the rally. The present spending binge was spurred by earlier in the week's weaker-than-anticipated consumer and producer inflation numbers.


September E-mini Dow Jones Industrial Average futures are now trading at 33634, up 330 or +0.99%, at 18:58 GMT. Currently trading at $337.81, the SPDR Dow Jones industrial average ETF is up $4.10 or +1.23%.


Optimism was also fueled by statistics indicating that U.S. consumer confidence increased in August after hitting a record low this summer and that American consumers' expectations for inflation in the near term decreased once again as a result of falling gasoline costs.


The banking sector is up approximately 1.4% to continue its gain for a sixth consecutive week, according to stock market reports. JPMorgan Chase & Co. and Goldman Sachs Group Inc., two Dow components, are up 1.66% and 0.61%, respectively. Walt Disney and Merck & Co. are poised to record the session's biggest increases.

Swing Chart Technical Analysis for the Day

The daily swing chart indicates that the overall trend is upward. The rise resumed after the transaction passed 33625. The uptrend will be confirmed if a move is made through the next key top at 34011. When a transaction passes over 32342, the primary trend will turn downward.


35405 to 29639 is the primary range. The support that is dictating the short-term direction of the market is between 33202 to 32522, which is the strong side of the market's retracement zone.

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