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On October 18, Kirill Dmitriev, Chairman of the Russian Direct Investment Fund (RDIF), stated that discussions regarding the tunnel project began after US President Trump and Zelensky mentioned it at the White House. Dmitriev had previously stated on the 16th that Boring Company technology could be used to build an intercontinental tunnel across the Bering Strait. He stated that the RDIF had studied existing proposals, including the US-Canada-Russia-China railway, and supported the most feasible option.On October 18, AFP reported that a source in the Ukrainian delegation revealed to the media that Ukrainian President Volodymyr Zelensky presented a map of potential targets in Russia to US President Donald Trump during their meeting in Washington, D.C., on Friday (October 17). The report quoted the source as saying, "The map shows pressure points in Russias defense and military economy that could be targeted to force Russia to end the war." As of press time, neither the White House nor Russia has responded to this report.1. All three major U.S. stock indices closed higher, with the Dow Jones Industrial Average up 0.52%, the S&P 500 up 0.53%, and the Nasdaq up 0.52%. American Express rose over 7%, and Apple rose nearly 2%, leading the Dow higher. The Wind US Tech Seven Index rose 0.86%, with Tesla up over 2% and Nvidia up 0.79%. Most Chinese concept stocks rose, with Futu Holdings up over 4% and Pony.ai down over 5%. For the week, the Dow Jones Industrial Average rose 1.56%, the S&P 500 rose 1.7%, and the Nasdaq rose 2.14%. 2. All three major European stock indices closed lower, with the German DAX down 1.61%, the French CAC 40 down 0.18%, and the UKs FTSE 100 down 0.86%. For the week, the German DAX fell 1.49%, the French CAC 40 rose 3.24%, and the UKs FTSE 100 fell 0.77%. 3. U.S. Treasury yields rose across the board, with the 2-year up 4.77 basis points, the 3-year up 4.96 basis points, the 5-year up 5.19 basis points, the 10-year up 4 basis points, and the 30-year up 2.66 basis points. 4. International precious metals futures generally closed lower. COMEX gold futures fell 0.85% to $4,267.90 per ounce, a weekly gain of 6.69%; COMEX silver futures fell 5.01% to $50.63 per ounce, a weekly gain of 7.15%. 5. The main U.S. crude oil contract closed up 0.46% at $57.25 per barrel, a weekly loss of 2.80%; the main Brent crude oil contract rose 0.46% to $61.34 per barrel, a weekly loss of 2.22%. 6. Most of the base metals in London fell, with LME tin futures down 2.07% to $35,030/ton, down 3.16% for the week; LME nickel futures fell 1.03% to $15,110/ton, down 1.11% for the week; LME zinc futures fell 1.03% to $2,942.50/ton, down 1.97% for the week; LME copper futures fell 0.38% to $10,607/ton, up 0.85% for the week; LME aluminum futures fell 0.36% to $2,778.50/ton, up 1.11% for the week; LME lead futures rose 0.31% to $1,971.50/ton, down 2.43% for the week.1. Hamas and Egypt discussed post-war security in the Gaza Strip. 2. Israels Defense Minister stated that those crossing the "yellow line" in Gaza would be met with retaliatory fire. 3. The UN Deputy Secretary-General entered Gaza and called for the opening of all crossings. 4. Guterres refuted Houthi accusations, posing a serious threat to the safety of UN personnel. 5. Market News: Pakistan "conducted precision airstrikes" in the Afghan border area. 6. Irans Foreign Minister stated that UN Security Council Resolution 2231 expires on the 18th, ending previous restrictions on Iran. 7. Sources: Afghanistan and Pakistan agreed to extend the 48-hour ceasefire until delegation-level talks can be held in Doha. 8. The Israeli Prime Ministers Office stated (in response to remarks by a senior Hamas official) that Hamas must disarm, "no ifs, no buts." 9. A senior Hamas official stated that it is impossible to definitively answer whether Hamas will give up its weapons. Hamas hopes for a three- to five-year ceasefire to rebuild Gaza, but stressed that it is not intended to pave the way for a new war.On October 18, local time, on October 17, US President Trump signed an executive order to impose a new 25% tariff on imported medium and heavy trucks and parts starting November 1. Trump said that a 10% tariff would also be imposed on imported passenger cars.

E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Upside Momentum Can Build Over 33202

Alice Wang

Aug 11, 2022 12:14

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A government report showing slower-than-expected headline and core inflation in July led traders to reduce their bets on the Federal Reserve raising interest rates for a third consecutive time by a whopping 75 basis points at its meeting on September 21. As a result, September E-mini Dow Jones Industrial Average futures are trading sharply higher shortly after the cash market opened on Wednesday.


September E-mini Dow Jones Industrial Average futures are now trading at 33261, up 524 or +1.60% as of 14:24 GMT. The SPDR Dow Jones Industrial Average ETF (DIA), up $4.76 or 1.45%, is now trading at $332.67.


Demand for riskier assets is fueled by inflation that is softer than anticipated.


Due to falling gasoline costs, consumer inflation in the United States did not increase in July compared to June, marking the smallest monthly inflation in more than two years.


The probability of a 75-basis-point hike in fund rates at the U.S. Federal Reserve's next meeting in September has dropped from 67.5% to 37.5% as a result of the weak inflation report.


The strongest performance on Wednesday is coming from stocks that are susceptible to falling interest rates. Goldman Sachs Group has increased by 3.13%. JPMorgan Chase is up 2.49%, while American Express is up 2.62%.


Chevron Corp., which is down 0.69% due to decreased crude oil prices, is the only company that loses out in this category.

Swing Chart Technical Analysis for the Day

The daily swing chart indicates that the overall trend is upward. The uptrend was confirmed by the trade through the last primary top at 33255. Passing through 32342 will turn the general trend downward.


Smaller trend is similarly upward. The little trend will turn downward if a deal is made through 32662. The downward momentum will change as a result.


35405 to 29639 is the primary range. The market is presently attempting to break above the 33202 level of its retracement zone. Support for the downside is a 50% level at 32522.

Swing chart technical forecast for the day

The path of the September E-mini Dow Jones Industrial Average into Wednesday's closing will depend on how traders respond to the Fibonacci level at 33202.

Positive Scenario

The presence of buyers will be shown by a prolonged advance over 33202. It will be clear that the purchasing is picking up steam if there is a sustained rise over the key high at 33255. Look for a short-term bounce into the May 5 peak at 34011 if this creates sufficient upward momentum.

Grizzly Situation

The presence of sellers will be shown by a persistent move below 33202. Look for a break through the minor pivot at 32805 if this creates sufficient downward momentum. The selling is expected to continue until the 50% barrier at 32522 if this fails.

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