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At the close of trading in Hong Kong stocks, the Hang Seng Index fell 0.04%, while the Hang Seng Tech Index rose 1.32%. Chip stocks surged, with sectors such as optical communication, PCB, artificial intelligence, and power equipment leading the gains, while sectors such as batteries, oil, mainland property, and mainland banks weakened. Zhipu (02513.HK) closed up 36.89%.Both WTI and Brent crude oil prices fell by more than 1% during the day, currently trading at $82.04 per barrel and $86.52 per barrel, respectively.July 21 – KPMGs Chief UK Economist, Yael Selfin, stated that weak wage growth in the UK strengthens the Bank of Englands case for maintaining interest rates. She said that in the three months to May, overall wage growth excluding bonuses remained unchanged at 3.4%, with little evidence that recent energy price increases have been passed on to payroll settlements. Private sector wage growth is currently below the Bank of Englands 2% target, as weak hiring continues to weigh on workers bargaining power. Selfin said, "We expect the Bank of England to keep interest rates unchanged at its meeting next week, and developments in the energy market are likely to play a greater role in shaping the interest rate outlook in the coming months."On July 21, Foreign Ministry Spokesperson Lin Jian held a regular press conference. In response to questions regarding China-EU trade and economic relations, Lin Jian stated that China has repeatedly clarified its position on related issues. China attaches great importance to the differences existing in China-EU trade and economic relations and has always believed that both sides can properly resolve them through dialogue, consultation, and policy interaction. These differences should not become obstacles to mutual trust and cooperation between China and the EU, nor should they be used as a basis for decoupling or breaking off trade chains, much less as an excuse for making unfounded accusations against China. The essence of China-EU trade and economic relations is mutual benefit and win-win cooperation. China has never deliberately pursued a trade surplus with Europe; the structure of China-EU trade is the result of a combination of factors, including international industrial division of labor and the comparative advantages of different countries. Lin Jian emphasized that protectionism has no future, and win-win cooperation is the right path.The chart shows that at 22:00 Beijing time on July 21, there will be large foreign exchange option orders for Euro, British Pound, Australian Dollar, Canadian Dollar, Japanese Yen, etc., expiring. There are 9 large orders with strike prices of over 1 billion. Please manage your risks.

E-mini NASD-100: Sellers Targeting March Bottom at 12942.50

Cameron Murphy

Apr 24, 2022 10:08


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The June E-mini NASDAQ-100 Index futures are down significantly just before the close on Friday, putting the tech-heavy index on track for its third week of losses. On heightened clarity regarding aggressive near-term interest rate rises and general worries ahead of Big Tech reports next week, sellers pounded technology equities.


June E-mini NASDAQ-100 Index futures were trading at 13442.00 at 17:55 GMT, down 286.25 or -2.09 percent. The Invesco QQQ Trust ETF (QQQ) is now trading at 325.41, down 8.74 percent.

Tech Stocks Have a Difficult Future Prior to the Release of Major Earnings Reports

The NASDAQ Composite has had a bumpy start to the year due to the possibility of a more hawkish Fed. The tendency is particularly obvious in tech and growth stocks, which are more exposed to increasing bond rates in terms of valuation. In the year 2022, the NASDAQ is down 17.9%.


The four largest U.S. corporations by market value, Apple, Microsoft, Amazon, and Google parent Alphabet, will report earnings next week.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The primary trend will be changed to down if a deal is made through 14298.00. The downtrend would be reaffirmed if the price breaks through the intraday low of 13435.75.


12942.50 to 15268.75 is the short-term range. The index is now trading at resistance from 13831.25 to 14105.75, which is the lower end of its retracement zone.

Technical Forecast for the Daily Swing Chart

Trader response to 13728.25 will influence the direction of the June E-mini NASDAQ-100 Index entering Friday's closing.

Scenario that is bearish

The presence of sellers will be shown by a persistent move below 13728.25. If the intraday low of 13435.75 is broken, it means the selling pressure is increasing. Look for a downward acceleration if this builds enough downside momentum, with 12942.50 being the next big negative target.

Possibilities for Growth

The return of buyers will be signaled by the crossing of 13728.25. This might provide enough rising momentum to test the 13831.25 to 14105.75 short-term retracement zone. This is the last possible barrier level before the big peak at 14298.00.

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