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December 5th - On December 4th, Li Chenggang, Chinas Vice Minister and Chinas International Trade Representative, met with Almeida, Chairman of the Brazil-China Parliamentary Friendship Group of the Brazilian Chamber of Deputies, in Beijing. The two sides exchanged views on deepening China-Brazil trade and investment cooperation.December 5th - According to European diplomats familiar with the matter, the United States has recently lobbied several EU member states to try to block the EUs plan to use frozen Russian central bank assets to guarantee large loans to Ukraine. These diplomats stated that US officials are urging member states to use these assets to facilitate a peace agreement between Kyiv and Moscow, rather than to prolong the conflict. According to some sources, the US 28-point peace plan, first proposed last month, has been revised, but the issue of asset disposal, Ukraines territorial status, and providing solid security guarantees to Kyiv remain major points of contention. European leaders insist that how these assets are used is an internal European matter, as the frozen funds are primarily held in Europe.Russian presidential aide Ushakov stated that US envoy Kushner is actively pushing for a solution to the Ukraine crisis.The onshore yuan closed at 7.0706 against the US dollar at 16:30 on December 5, down 16 points from the previous trading day.On December 5th, T. Rowe Prices Chief U.S. Economist, Brerina Urucci, noted in a report that the Federal Reserves monetary policy path in the second half of 2026 remains highly uncertain. "My biggest disagreement with the market lies in pricing in expectations of rate cuts in the first half of 2026; I think current market expectations are too dovish," she stated. This depends not only on the evolution of macroeconomic data but also on the response mechanism of the Feds new leadership. Urucci believes that if inflation resumes its acceleration this quarter and economic growth remains robust—as she anticipates—then the Fed will be unable to deliver on market expectations of further easing next year. She indicated that the Fed may pause its rate cuts after its December meeting.

Trade Through 13583.75 Changes Minor Trend to Up in E-mini NASDAQ-100

Cameron Murphy

Apr 29, 2022 10:10

Investors followed the wave produced by excellent Meta Platforms results, sending June E-mini NASDAQ-100 Index futures up just after the mid-session on Thursday. The rally expanded to damaged technology and growth sectors, easing concerns about a U.S. economic slowdown in the first quarter.


June E-mini NASDAQ-100 Index futures are trading at 13399.75, up 390.75 or +3.00 percent, as of 18:04 GMT. The Invesco QQQ Trust ETF (QQQ) is now trading at $327.55, up $10.79 or 3.41%.

News on the stock market

The parent company of Facebook surged 14.3% after reporting a better-than-expected earnings and seeing user growth on the social-networking site.


Apple Inc, the world's most valuable corporation, and Amazon.com Inc, the world's largest e-commerce firm, both surged more than 2% ahead of their results later in the day.

Economic News from the United States

After growing at a 6.9% annualized pace in the fourth quarter, gross domestic product declined at a 1.4 percent annualized rate in the first quarter, according to a report from the US Commerce Department. The economy was expected to expand at a pace of 1.1 percent, according to economists surveyed by Reuters.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The return of the downturn will be signaled by a transaction through 12801.50. The major trend will turn to up if the price breaks over 14298.00.


The minor trend is similarly in the negative direction. The minor trend will be changed to up if a transaction is made through 13583.75. This will cause the momentum to move upward.


13583.75 to 12801.50 is the minor range. It is now trading around 13192.50, which represents support, on the strong side of its pivot.


15268.75 to 12801.50 is the short-term range. If the minor trend reverses, the retracement zone between 14035.25 and 14326.25 will be the next upward target.

Technical Forecast for the Daily Swing Chart

Trader response to 13192.50 will influence the direction of the June E-mini NASDAQ-100 Index into Thursday's closing.

Possibilities for Growth

The presence of buyers will be shown by a persistent advance over 13192.75. The minor peak at 13583.75 is the next goal. If this level is broken, the minor trend will shift to the upside, providing the impetus required to attack the short-term 50% level at 14035.25.

Scenario that is bearish

The presence of selling will be signaled by a prolonged move below 13192.75. This might lead to a retest of the low of the week, which was 12801.50. If this price fails, expect the selling to continue into the primary bottom at 12179.50 on March 5, 2021.

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