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February 3rd - US Treasury yields rose as the latest data showed increased resilience in the US economy. Konstantinos Chrysikos of Kudotrade stated in a report that Mondays ISM Manufacturing PMI "delivered a significant upward surprise." He pointed out that although employment and inventories remain in contraction territory, the rebound in the employment sub-index suggests that the drag on the economy from labor may be easing. "Overall, these data reinforce the narrative that the US economy remains resilient." According to Tradeweb data, the yield on the two-year US Treasury note rose 1.4 basis points to 3.582%, and the yield on the 10-year Treasury note rose 1 basis point to 4.286%.February 3rd - The "China Two-Way Investment Report 2025," released on February 3rd, shows that China remains a major investment destination for global investors, providing a huge market and strong support for multinational corporations international operations and development, including industrial and supply chains, and technological innovation. According to the report, Chinas technological breakthroughs in fields such as artificial intelligence and 5G, its rich application scenarios, and its large pool of highly qualified innovative talent have created the worlds largest technological innovation ecosystem, providing fertile ground for foreign-invested enterprises. Many foreign companies have established R&D centers, data centers, and new technology testing centers in China. Reports from multiple foreign companies indicate that innovation opportunities in China are becoming a significant driving force for foreign companies to enhance their global competitiveness.Ukraines power company DTEK said last nights Russian airstrikes were the largest attack on the energy system since early 2026.Russian Deputy Prime Minister Novak: OPEC+ expects oil demand to rise in the spring and summer.Russian Deputy Prime Minister Novak: (Regarding expectations for OPEC+ action in April) This will be another factor in ensuring the balance of the oil market.

E-mini NASDAQ-100: Trying to Form Bullish Reversal Bottom

Cameron Murphy

Apr 26, 2022 10:49


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Monday's mid-session E-mini NASDAQ-100 Index futures are down, although seeking to recoup some of their early losses. Fears about China's COVID-19 breakouts frightened investors already anxious about quicker U.S. interest rate rises denting economic growth, so the tech-weighted index prolonged its steep selloff from last week.


June E-mini NASDAQ-100 Index futures are trading at 13384.50, up 31.00 or 0.23 percent, at 17:20 GMT. This is an increase from the previous low of 13184.00. The Invesco QQQ Trust ETF (QQQ) is up $0.75, or 0.23 percent, to $326.15.


Investors were particularly nervous at the outset of a week that would see megacap firms such as Google parent Alphabet Inc, Microsoft Corp, Amazon.com Inc, and Apple Inc report quarterly results.


In mergers and acquisitions news, Twitter Inc jumped 3.9 percent after Reuters reported that it was prepared to accept Tesla Inc CEO Elon Musk's 'best and last' cash offer of $54.20 per share.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The continuation of the decline will be signaled by a trade through the intraday low of 13184.00. The major trend will turn to up if the price breaks over 14298.00.


12942.50 to 15268.75 is the short-term range. The market is now trading on the weak side of its retracement zone, which is resistance from 13831.25 to 14105.75.

Technical Forecast for the Daily Swing Chart

Trader response to 13353.50 will influence the direction of the June E-mini NASDAQ-100 Index entering Monday's closing.

Scenario that is bearish

The presence of sellers will be shown by a persistent rise below 13353.50. It will be a sign of weakness if the intraday low of 13184.00 is broken. Look for the selling to continue towards the March 15 major low around 12942.50 if this move develops adequate negative momentum.

Possibilities for Growth

The presence of buyers will be signaled by a persistent advance over 13353.50. Look for a late-session push towards the short-term retracement zone of 13831.25 – 14105.75 if this move creates enough upward momentum.

Notes on the Side

A daily closing price reversal bottom will be formed if the price closes above 13353.50. If this is verified, a minimum 2- to 3-day corrective rally might begin.

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