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Futures News, March 4th: 1. Snowfall is expected in central and northern North China and southern Northeast China. From March 4th to 6th, light to moderate snow is expected in central and northern North China, southern Northeast China, western mountainous areas of southern Xinjiang, and the Ili River Valley, with heavy snow in some areas. 2. Over the next three days, influenced by a deepening low-pressure system and upper-level trough, heavy snow is expected in parts of western Norway, northern Sweden, most of Finland, Iceland, southern East European Plain, northern Iran, Kyrgyzstan, Tajikistan, central and eastern Afghanistan, and northern Pakistan, with blizzards or heavy blizzards in some areas. Accumulated precipitation in some of these areas will be 10-20 mm, with some areas exceeding 40 mm. Most of these areas will also experience winds of force 5-6, with gusts of force 8-9. 3. Over the next three days, influenced by a low-pressure system and an upper-level trough, moderate to heavy snow or sleet is expected in parts of high-altitude coastal and central Canada, the western mountainous regions of the United States, the eastern Great Lakes region, and southern Labrador Peninsula, with localized blizzards or heavy snowfalls. Accumulated precipitation is expected to be 10-20 mm, with some areas exceeding 40 mm. Temperatures in most of these areas will drop by 6-10°C, with some areas experiencing a drop of over 14°C. 4. Over the next three days, influenced by multiple low-pressure systems and an upper-level trough, moderate to heavy rain is expected in parts of northern Western Australia, the Northern Territories, northern Queensland, Papua New Guinea, and the Solomon Islands, with localized torrential rains. Accumulated precipitation in these areas is expected to be 30-50 mm, with some areas exceeding 80 mm.Market news: Israeli and/or US airstrikes are targeting Iranian-backed Popular Mobilization Forces (PMF) targets in Iraq.The worlds largest gold ETF, SPDR Gold Trust, saw its holdings decrease by 2.29 tons from the previous day, with its current holdings at 1099.05 tons.The Saudi cabinet issued a statement saying it will take all necessary measures to safeguard national security.Key Futures Data and Events to Watch Today (March 4, 2026), Wednesday: 1. Chinas official February manufacturing PMI; 2. Chinas February RatingDog services PMI; 3. UK LME non-ferrous metal inventory change to March 4; 4. US February ADP employment change; 5. US February S&P Global Services PMI final reading; 6. US February ISM non-manufacturing PMI; 7. US EIA crude oil inventories for the week ending February 27.

E-mini S&P Bulls Facing Next Challenge at 4447.25 – 4530.50

Cameron Murphy

Apr 14, 2022 11:05


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As investors absorbed sizzling inflation data and a mixed bag of quarterly profits, June E-mini S&P 500 Index futures are trading higher late in the session on Wednesday, buoyed by a rally in market-leading growth companies.


June E-mini S&P 500 Index futures were at 4443.50 at 20:22 GMT, up 50.50 or 1.15 percent. The S&P 500 Trust ETF (SPY) is now trading at $443.40, up $5.11 or 1.17 percent from its previous close.

Mixed Earnings Results

JPMorgan Chase & Co kicked off the first-quarter results season on a sour note, citing a 42 percent reduction in quarterly profit. The largest US lender's stock dropped 3.2 percent as a consequence of its disappointing earnings.


Delta Air Lines' earnings above forecasts, and the company forecasted a current-quarter return to profit owing to "historically strong" demand. According to Reuters, the 5.9% share price increase spread to the larger S&P 1500 airline index, which rose 6.5 percent.

Daily Swing Chart Technical Analysis

According to the daily swing chart, the major trend is down. The return of the decline will be signaled by a trade through 4382.25. The major trend will turn to up if the price breaks through 4588.75.


4800.00 to 4094.25 is the major range. The next upward target range is the retracement zone from 4447.25 to 4530.50. A small pivot at 4506.75 is located inside this zone. This is also a source of possible opposition.


4094.25 to 4631.00 is the short-term range. Support is seen in the retracement zone of 4362.50 to 4299.25. This region is in charge of the index's short-term direction.

Daily Swing Chart Technical Forecast

Trader response to the major 50 percent milestone at 4447.25 is expected to influence the direction of the June E-mini S&P 500 Index early Thursday.

Possibilities for Growth

The presence of buyers will be shown by a prolonged advance over 4447.25. Look for purchasing to continue into 4506.75 to 4530.50 if this move is able to build adequate near-term momentum.


Because the overall trend is down, traders must keep an eye out for sellers. They might attempt to construct a bearish secondary lower top.

Scenario that is bearish

The presence of selling will be signaled by a prolonged move below 4447.25. Look for the selling to continue through yesterday's bottom around 4382.25, then the short-term retracement zone of 4362.50 to 4299.25 if this provides enough bearish momentum.

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