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According to Futures News on April 21, as of 8:30 AM Beijing time, spot platinum fell 0.07% and spot palladium fell 0.07%.South Koreas exports remained strong in the first 20 days of April, indicating that external demand remains resilient despite increased inflation and growth risks from soaring oil prices and a weaker currency. According to customs data released Tuesday, exports in the first 20 days of April, adjusted for working day differences, rose 49.4% year-on-year. In comparison, the increase in the same period in March was 40.4%. Unadjusted exports also rose 49.4%, while imports increased by 17.7%, resulting in a trade surplus of $10.4 billion. Semiconductor exports surged 182.5%, driving overall exports, fueled by strong investment in artificial intelligence and data centers. Computer peripheral exports jumped 399%. Petroleum products also contributed, growing by 48.4%, with energy exports partly boosted by rising crude oil prices. Meanwhile, exports of automobiles and auto parts both declined. These data suggest that South Koreas export engine remains intact despite heightened external risks.Artificial Intelligence: 1. The Dark Side of the Moon has officially launched and open-sourced its new model, Kimi K2.6. 2. Amazon: Will invest up to $25 billion in Anthropic. Anthropic will receive 5 gigawatts of Trainium chips. Anthropic will invest over $100 billion in AWS technology. 3. Alibabas HappyHorse will open beta on April 27 and officially launch commercially in May. 4. The Supreme Peoples Court: Is currently drafting opinions on properly handling disputes involving artificial intelligence in accordance with the law. Other: 1. Apple announces a change in leadership: Tenas takes over as CEO, Cook becomes executive chairman. 2. Huaweis first wide-folding phone is equipped with the Kirin 9030 Pro across the board, starting at 10,999 yuan. 3. Yu Chengdong: There is significant pressure on phone pricing, and prices may increase later. 4. Li Liang, Vice President of Douyin Group, responds to ByteDances 70% net profit decline: This figure is based on international accounting standards. 5. Tesla: There are currently no specific plans to mass-produce robots at its Shanghai Gigafactory. 6. Micron releases 24Gb (3GB) GDDR7 memory. 7. Musk absent from French prosecutors hearing. On April 21, CNN reported that on April 20 local time, US President Trump stated in a phone interview that Iran "will negotiate" and expressed confidence in the potential talks to be held in Pakistan. Trump said, "They will negotiate, and if they dont, there will be unprecedented problems." He also expressed hope that the two sides could reach a "fair agreement" and emphasized that Iran "will not have nuclear weapons." He also defended military action against Iran, saying there was "no other choice," and that the "finishing touches" would eventually be completed.April 21 – Statistics New Zealand data shows that New Zealands first-quarter CPI rose 3.1% year-on-year, the same as the increase in the fourth quarter of last year, while economists had previously expected 2.9%. The CPI rose 0.9% month-on-month, higher than the expected 0.8%. New Zealands first-quarter inflation rate unexpectedly remained above the 1% to 3% target range before rising fuel and other costs due to the Iran war were expected to push the CPI up. The Reserve Bank of New Zealand initially estimates that the inflation rate will accelerate to 4.2% in the second quarter, while local economists expect the inflation rate to be even higher and remain above the target range until 2027. Faced with the risk that inflation could become deeply entrenched in the economy, the market widely expects the Reserve Bank of New Zealand to raise interest rates sooner than previously anticipated, with investors expecting the first rate hike as early as July.

E-mini S&P: Plenty of Room to Downside with 4129.50 Target

Cory Russell

Apr 26, 2022 11:00

Early Monday, June E-mini S&P 500 Index futures were substantially down as investors responded to a dramatic drop in Asian equities markets. Investors are also anticipating higher interest rates and a flood of earnings reports from key technology firms like Amazon and Apple this week.


June E-mini S&P 500 Index futures are trading at 4233.50, down 33.75 points, or -0.79%, at 08:15 GMT. The S&P 500 Trust ETF (SPY) closed at $426.09 on Friday, down $11.97 or -2.73 percent.

Stocks in Shenzhen, China, are down 6%.

Investors in the United States are keeping an eye on mainland Chinese indices, which are leading the Asia-Pacific region's losses.


The Shanghai composite fell 5.13 percent to 2,928.51, while the Shenzhen component fell 6.08 percent to 10,379.28.


Despite strict lockdowns in Shanghai, China has been trying to manage its deadliest outbreak of COVID-19.


Chinese authorities in Beijing, China's capital, are warning that the virus has been spreading unnoticed for almost a week, adding to the quickly growing sickness.

Looking Forward...

Investors in the S&P 500 are preparing for the busiest week of corporate earnings season yet. This week, over 160 S&P 500 firms are set to report profits, with all attention on reports from large tech giants including Amazon, Apple, Google parent Alphabet, Meta Platforms, and Microsoft.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The resumption of the decline will be signaled by a trade through the intraday low of 4218.50. The major trend will turn to up if the price breaks through 4509.00.


4094.25 to 4631.00 is the short-term range. The market is now trading on the weak side of its retracement zone, which is resistance around 4299.25 to 4362.75.

Technical Forecast for the Daily Swing Chart

Trader response to 4267.25 is expected to impact the direction of the June E-mini S&P 500 Index into Monday's closing.

Bearish Scenario

The presence of selling will be shown by a persistent move below 4267.25. Taking out 4218.50 indicates that the selling pressure is increasing. This might set the stage for a run to the major bottom at 4129.50, followed by a drop to the 2022 low at 4094.25.

Possibilities for Growth

The presence of buyers will be signaled by a prolonged advance over 4267.25. Look for a push into 4299.25 if this develops enough upward momentum. Overtaking this level would indicate that purchasing is becoming more active, with a 50% level at 4262.75 being a possible objective.