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The White House issued a statement regarding Canadas tariff actions.September 9th - In August, Beijing and Shanghai successively optimized their housing market policies. According to statistics from the China Index Academy, Beijings existing home sales reached 14,000 units in August, a year-on-year increase of 3.9%; Shanghais existing home sales remained high, with a year-on-year increase of 16.3%; regarding new homes, Beijings new home sales area in August was basically flat compared to the same period last year, while Shanghais increased by 16.0% year-on-year. Cao Jingjing, General Manager of the Index Research Department of the China Index Academy, believes that the Beijing and Shanghai housing markets are more reflecting a recovery driven by active transactions and marginal improvements in supply and demand. Prices are still in an adjustment phase, and new home inventory remains relatively high. The sustainability of the market recovery remains to be seen.A senior executive at Mitsui O.S.K. Lines stated that despite current strong freight rates, there are no plans to expand the tanker fleet.September 9th - The National Bureau of Statistics stated that, on a month-on-month basis, price trends in some industries exhibited seasonal characteristics. In August, seasonal increases in electricity and coal demand led to a 2.8% rise in coal mining and washing prices, and a 1.4% increase in electricity supply prices. High temperatures and rainfall affected construction projects, resulting in price decreases of 0.9% and 0.2% in the ferrous metal smelting and rolling processing industry and the non-metallic mineral products industry, respectively.On September 9th, the National Bureau of Statistics stated that, on a month-on-month basis, industrial transformation and upgrading led to increased demand and price increases in some sectors. New growth drivers are being cultivated at an accelerated pace, with the "intelligence" and "green" aspects of industrial development continuing to improve. Prices for electronic circuit manufacturing rose by 3.5%, virtual reality equipment manufacturing by 1.9%, and service consumption robot manufacturing by 0.3%; prices for biomass fuel processing and comprehensive waste resource utilization both rose by 0.3%.

E-mini Dow: Trade Through 34002 Changes Main Trend to Down

Skylar Shaw

Apr 24, 2022 10:13


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As investors reviewed a deluge of corporate earnings reports and the effect of increasing interest rates, June E-mini Dow Jones Industrial Average futures fell dramatically just after the mid-session on Friday, putting it in position to register a second straight weekly fall.


June E-mini Dow Jones Industrial Average futures are trading at 34015, down 694 points, or -2.00 percent, at 17:55 GMT. The SPDR Dow Jones Industrial Average ETF is now trading at $338.32, down $9.39 or -2.70 percent from its previous close.


The Federal Reserve was established in 1913.


Concerns about the dangers of interest rate rises resurfaced after Federal Reserve Chair Jerome Powell's hawkish flip on Thursday, in which he endorsed acting more rapidly to battle inflation and suggested a 50-basis-point raise would be "on the table" when the Fed meets in May.

Business Activity in the United States is Declining

According to a poll released on Friday, U.S. business activity slowed in April as rising costs for raw materials, gasoline, and labor drove input prices to new highs, indicating an ebb in optimism at the start of the second quarter, according to Reuters.


The study also revealed that firms were passing on greater costs to consumers, with its gauge of business-produced products and services reaching an all-time high.


Inflation might continue uncomfortably high as a result of the record input and output prices, necessitating strong monetary policy tightening by the Federal Reserve.


In April, business confidence fell to a six-month low as pricing pressures increased. The industrial and service sectors also saw a downturn in mood.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the overall trend is up, while momentum is down. The primary trend will be changed to down if a transaction is made through 34002. The return of the uptrend will be signaled by a rise through 35413.


The small downward trend is continuing. When sellers wiped out the tiny bottom around 34179 earlier today, the trend shifted to the downside. The shift in momentum was confirmed by the change in trend.


When sellers verified the previous session's closing price reversal top soon after the start, momentum swung downward.


36708 to 32086 is the primary range. The E-mini Dow is now trading on the weak side of its retracement zone, which represents resistance, from 34397 to 34942.


32086 35413 is the short-term range. The key downside objective is the retracement zone from 33750 to 33357.

Technical Forecast for the Daily Swing Chart

Trader response to 34397 is likely to impact the path of the June E-mini Dow into Friday's closing.

bearish Scenario

The presence of selling will be shown by a persistent move below 34397. Taking out 34002 will shift the major trend to the downside, providing the necessary negative momentum to test 33750 to 33357.

Possibilities for Growth

The return of buying will be signaled with a sustained rise over 34397. This would put the market in a position to test 34942 later in the day.

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