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On January 5, the election for the Bundestag, the lower house of the German parliament, will be held next month. Recently, American entrepreneur Musk wrote an article publicly supporting the Alternative for Germany party, which is considered to be far-right, and launched verbal attacks on German Chancellor Scholz and German President Steinmeier on social media. This caused controversy in German politics and triggered opposition and protests from many politicians in German politics. Scholz criticized Musk without naming him in his New Years speech on December 31 last year, saying that Germanys future "will not be determined by the owners of social media." The current Vice Prime Minister Habeck from the Green Party also criticized Musks remarks in his New Years speech. Later, in an interview with Der Spiegel, he also expressed strong dissatisfaction with Musks remarks and warned him not to interfere in the German Bundestag election.According to the Japan Meteorological Agency on the 5th local time, a magnitude 4.0 earthquake occurred in the Fuji Five Lakes area of Yamanashi Prefecture, Japan at around 8:51 a.m. that day. The maximum tremor was 3 and the focal depth was 20 kilometers.Conflict situation: 1. Ukraine claims to have launched a cyber attack on a Russian transport company. 2. Sources said that Ukrainian drones attacked Russian ports, and Russia has not responded yet. 3. The Ukrainian Air Force said that it shot down 34 Russian drones at night. 4. Ukraine used the ATACMS provided by the United States to launch the attack, and Russia vowed to retaliate. 5. Russian Ministry of Defense: The Ukrainian army lost more than 180 people in the Russian "Eastern" cluster action area in one day. 6. According to AFP: Russia intercepted 8 "ATACMS" missiles launched by Ukraine. 7. Russian Ministry of Defense: According to news agencies, Russian troops have taken control of the Nadia settlement in the Luhansk region of Ukraine. Others: 1. Ukrainian media said that Ukraine is about to receive the first batch of European fighter jets. 2. Russias St. Petersburg Airport once implemented temporary restrictions on takeoffs and landings. 3. The United States plans to sanction Serbian oil companies, and Vucic intends to discuss with the United States and Russia separately. 4. The foreign ministers of Ukraine and Turkey spoke on the phone to discuss issues such as Black Sea security. 5. The Prime Minister of Ukraine said that Ukraines top priority in 2025 is to ensure defense and security investment. 6. The United States has invested $175 billion in Ukraine, and the West will discuss further military aid in the near future.The 2027 FOMC voting members, San Francisco Fed President Mary Daly, and Federal Reserve Board Governor Kugler have been invited to participate in a monetary policy panel discussion, which will be announced in ten minutes.According to the Islamic Republic News Agency (IRNA): Iran plans to launch two new satellites before the end of spring.

Forming Potentially Bearish Reversal Top

Cory Russell

Jul 25, 2022 15:22

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Late in the trading day on Friday, September E-mini Dow Jones Industrial Average futures are trading lower after giving up previous gains. The blue chip Dow had a sharp decline as the S&P 500 Index and NASDAQ Composite Index experienced a sharp decline as technology equities fell as a result of disappointing earnings results from Snap and Twitter.


September E-mini Dow Jones Industrial Average futures are trading at 31772, down 235 points or 0.73 percent, as of 17:53 GMT. From an intraday high of 32193, this is now lower. The SPDR Dow Jones Industrial Average ETF (DIA) is down $1.33 or 0.41 percent, trading at $319.08 today.


In stock-related news, shares of Intel Corp. and Verizon Communications are both down close to 3.5 percent. Apple is down over 1.0 percent, while Microsoft is down more than 1.5 percent.


Procter & Gamble and American Express are the only companies outperforming the market, both up by about 2.0%.

Economic Information Influences Attitude

Following the publication of additional discouraging economic statistics, doubts about the status of the American economy as well as concerns about profits affected confidence.


The U.S. PMI Composite output index, which analyzes activity in both the manufacturing and service sectors, recorded a preliminary value of 47.5, which indicates declining economic production. The index has not been at that level for more than two years.

Swing Chart Technical Analysis for the Day

The daily swing chart indicates that the overall trend is upward, but the price action in the late session indicates that momentum may be changing to the negative.


A transaction through 32193 will indicate that the uptrend has resumed. If 30109 is crossed, the primary trend will shift to being downward.


Smaller trend is similarly upward. The minor trend will turn downward if there is a trade through 31504. The downward momentum will change as a result.

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