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Japans May coincident economic index rose 0.4% month-on-month, down from 1.3% in the previous month.On July 7th, the Ministry of Ecology and Environment recently released the "Technical Guidelines for the Formulation of Water Pollutant Discharge Standards for Centralized Wastewater Treatment Facilities in Industrial Parks," providing clear technical guidance for wastewater discharge standards in industrial parks across the country. The new regulations clarify that local governments must adhere to the principles of categorized management, comprehensive prevention and control, scientific feasibility, and legal compliance when formulating discharge standards. Industrial parks are divided into two categories: single-industry and comprehensive. Comprehensive industrial parks can be further subdivided into three subcategories: industry-similar, leading, and differentiated. Local governments should select parks with large discharge volumes, a wide variety of toxic and hazardous water pollutants, high risks to the receiving water bodies aquatic ecosystems, and for which current discharge standards are inapplicable, based on their actual conditions and environmental management needs, to formulate their own discharge standards. For industry-differentiated parks, priority should be given to formulating "one park, one policy" control requirements.1. According to Longzhong Information, as of the week ending July 6, the total commercial inventory of pure benzene at Jiangsu ports fell to 59,800 tons, a decrease of 14,200 tons week-on-week, a drop of nearly 20%. This absolute amount is a sharp decrease of 114,200 tons compared to 174,000 tons in the same period last year, a year-on-year decrease of 65.63%. 2. Sources say Germany plans to establish an emergency natural gas reserve, with a scale of up to 1.5 billion euros, plus operating costs. 3. Monitoring by the National Grain and Oil Information Center shows that as of July 3, 2026, the commercial inventory of the three major domestic oils has increased significantly to 2.18 million tons, an increase of 70,000 tons week-on-week. The national major oil mills imported soybean inventory is 7.7 million tons, an increase of 280,000 tons week-on-week; domestic soybean oil commercial inventory is 1.08 million tons, an increase of 10,000 tons week-on-week; and palm oil is 760,000 tons, an increase of 50,000 tons week-on-week. 4. According to the Ejin Horo Banner Mine Safety Supervision Bureau, the Ejin Horo Banner Haoda Coal Co., Ltd. has been ordered to suspend production for rectification due to safety hazards. 5. Market news: BHP Billiton has received approval to launch a $15 billion copper mine expansion project in Chile. 6. Mysteel satellite data shows that from June 29 to July 5, 2026, the total iron ore inventory at seven major ports in Australia and Brazil reached 14.394 million tons, an increase of 421,000 tons compared to the previous period. Port inventories continue to accumulate, and the current inventory level has risen to a high level for the year. 7. Shanghai Gold Exchange: Agreed to admit Hong Kong Precious Metals Central Clearing System Limited as an international member of the Shanghai Gold Exchange. 8. According to CCTV, the Guangxi Zhuang Autonomous Region Hydrological Center upgraded its flood warning to red at 7:00 AM on the 7th. Riverside areas in Guigang, Nanning, Wuzhou, Qinzhou, Beihai, Fangchenggang, Yulin, and Guilin should strengthen precautions and take timely evacuation measures. 9. According to the Shanghai Securities News, Pan Gongsheng, Governor of the Peoples Bank of China, stated that he supports Hong Kong in launching offshore RMB treasury bond futures and supports Hong Kong in building a comprehensive financial trading platform.JPMorgan Chase raised its price target for Eli Lilly (LLY.N) from $1,300 to $1,400.The yield on Japans 5-year government bonds fell 1.0 basis point to 1.930%.

E-mini S&P 500 Index (ES) Futures Technical Analysis – Tech Sector Recovery Helping to Pare Earlier Losses

Cory Russell

Jul 15, 2022 15:14

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A jump in recession worries was sparked by dismal quarterly reports from two major U.S. banks and hotter-than-expected consumer and producer inflation data. As a consequence, September E-mini S&P 500 Index futures are down as of late Thursday, although they are still off their intraday lows.


Following the release of JPMorgan Chase & Co. and Morgan Stanley's second-quarter results, the benchmark index started the cash market with a significant decline. Both disclosed declining profitability and issued warnings about an upcoming economic recession.


September E-mini S&P 500 Index futures are now trading at 3795.50, down 9.0 or -0.24 percent, at 18:04 GMT. This is higher than the day's low of 3723.75. The S&P 500 Trust ETF (SPY) is down $0.44 or 0.12%, trading at 378.39.


Late in the afternoon, losses are being reduced, and the technology sector is now in the black thanks to a recovery in semiconductor prices.

The near future

The response of traders at 3804.50 will probably influence the movement of the September E-mini S&P 500 Index into Thursday's closing.

Positive Scenario

The existence of buyers will be confirmed by a prolonged advance over 3804.50. Look for a probable burst into the minor retracement zone of 3837.00 to 3863.50 if this move generates enough upward momentum. The resistance cluster at 3922.00 is the next possible resistance after this location.


The primary trend will switch to up if a transaction is made through 3922.00. The uptrend will be confirmed by a move through 3950.00, but I won't start getting enthusiastic about the upside until I see a close over the main Fibonacci level at 3988.75.

Grizzly Situation

Sellers will be there if there is a persistent move below 3804.50. The short-term 50 percent mark at 3794.50 must be broken below to signal that the selling is intensifying. This might result in a swift breach into the 3757.75 short-term Fibonacci level. Before the intraday low at 3723.75, this is the final possible support.


The downtrend will be confirmed if 3723.75 is taken out, with 3639.00 serving as the next significant drop objective.