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February 14th - On the afternoon of the 13th local time, thick smoke was seen billowing from the direction of the Nik López oil refinery in Havana, the capital of Cuba, suspected to be a fire.On February 14, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with US Secretary of State Marco Rubio on the sidelines of the Munich Security Conference on February 13. Wang Yi stated that President Xi Jinping and President Trump have provided strategic guidance for the development of China-US relations. We should work together to implement the important consensus reached by the two heads of state, making 2026 a year in which China and the US move towards mutual respect, peaceful coexistence, and win-win cooperation. Dialogue is better than confrontation, cooperation is better than conflict, and win-win is better than zero-sum in China-US relations. As long as we uphold the principles of equality, respect, and mutual benefit, both sides can find ways to resolve each others concerns and properly manage differences. Both sides should work together to continuously expand the list of cooperation and reduce the list of issues, so that China-US relations can embark on a stable, healthy, and sustainable development track, sending a more positive message to the world. Both sides agreed that the meeting was positive and constructive. Both sides agreed to jointly implement the important consensus reached by the two heads of state, leverage the coordinating role of political and diplomatic channels, serve high-level interactions between the two countries, strengthen dialogue and cooperation in various fields, and promote the stable development of China-US relations.February 14th - Gold and silver futures are poised for gains this week. The near-month gold contract rose 1.4% this week, marking its eighth consecutive week of gains in the past ten weeks. The near-month silver contract rose 1.5% this week, ending a two-week losing streak and marking its eleventh consecutive week of gains in the past 15 weeks. Antonio Di Giacomo of XS.com stated in a report that despite volatility in the precious metals market, demand for safe-haven assets remains, supporting the rise in gold and silver prices.Amazon-backed nuclear energy company X-Energy Reactor Co. has received approval from U.S. regulators for its nuclear reactor fuel.Lawyers say a Pennsylvania jury found Johnson & Johnson (JNJ.N) liable for a woman’s diagnosis of ovarian cancer.

Weakness Fueled by Dismal Economic Data

Skylar Shaw

Jun 29, 2022 15:06

The announcement of worse than anticipated consumer confidence data on Tuesday caused sellers to enter the market, which resulted in a steep decline in the September E-mini Dow Jones Industrial Average futures late in the session.


The price movement indicates that investors are still hesitant to purchase strength because they are unsure if a bottom has occurred. Furthermore, it is anticipated that concerns about a recession and rising interest rates would continue to rule the market.


September E-mini Dow Jones Industrial Average futures are now trading at 30977, down 444 or -1.41 percent, at 19:27 GMT. The SPDR Dow Jones Industrial Average ETF (DIA), which is down $4.57 or 1.45%, is now trading at $309.79.

Shares of Blue Chip Companies Fall as US Consumer Confidence Declines

Following poor economic statistics, the blue chip average turned to the fall. The Conference Board said that the consumer confidence index dropped to a score of 98.7, down from 103.2 in May and below the 100 Dow Jones projection. The disappointing statistics comes as recession worries have grown recently as the Federal Reserve aggressively raises interest rates to battle growing inflation.

Swing Chart Technical Analysis for the Day

The daily swing chart indicates that the primary trend is downward. The major trend will switch to up if a transaction is made through 33255. A move through 29639 will indicate that the downturn has resumed.


Even the slightest trend is negative. Earlier in the day, sellers pulled away 31331, and the trend swung downward. The minor trend will turn upward if a deal is made through 3186.


The range for the near future is 33255 to 29639 The market is now experiencing resistance as it trades on the weaker side of its retracement range, which is 31447 to 31874.


29639 to 31867 is the minor range. The closest support and objective on the downside is at its 50 percent level, which is 30253.

Swing chart technical forecast for the day

The response of traders to 31421 will probably influence the movement of the September E-mini Dow into Tuesday's closing.

Grizzly Situation

Continual movement below 31421 will signal the existence of sellers. Look for the selling to potentially continue towards the minor pivot at 30253 if this move generates enough downward momentum.

Positive Scenario

The presence of buyers will be shown by a prolonged advance over 31421. A breach of the 50% mark at 31447 will signal a strengthening of intraday buying. This may spark a rush into the resistance band between 31867 and 31874. In the event that the latter is taken out, the following significant objective, 32599, might be reached.

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