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On September 8, Foreign Ministry Spokesperson Mao Ning held a regular press conference. Mao Ning stated that there is only one China in the world, and Taiwan is an inseparable part of Chinas territory—an unshakeable historical and legal fact. UN General Assembly Resolution 2758 solemnly affirms the one-China principle, explicitly restoring all the rights of the Peoples Republic of China and clarifying that China has only one seat in the United Nations; there is no such thing as "two Chinas" or "one China, one Taiwan." Taiwan has never been a country, and it will never be. The Lai Ching-te administrations wanton distortion of UN General Assembly Resolution 2758 once again exposes its separatist nature of "Taiwan independence." Its fallacies cannot change the historical and legal fact that both sides of the Taiwan Strait belong to one China, nor can they shake the international communitys firm commitment to the one-China principle.September 8th – On September 8th, Foreign Ministry Spokesperson Mao Ning held a regular press conference. A Reuters reporter asked, “India is about to host the 18th BRICS Summit. Who will China send to this summit? What are China’s expectations for this summit?” Mao Ning stated that China attaches importance to BRICS cooperation and supports India in successfully hosting this year’s leaders’ summit. “However, I have no information to provide on your specific question at this time,” Mao Ning said.September 8th - With the resumption of oil transport through the Strait of Hormuz, Kuwaiti crude oil exports have recovered to approximately 1 million barrels per day, including ship-to-ship transshipment outside the strait. Sabah, Managing Director of International Marketing at Kuwait Petroleum Corporation (KPP), stated that the company is also delivering directly to customers. Currently, they are using both their own tankers and chartered vessels to transport oil. As more tankers find routes through the Strait of Hormuz, Kuwaiti crude oil exports have recovered to nearly two-thirds of last years average daily export of 1.6 million barrels. Kuwaiti crude oil exports had fallen to multi-year lows since the outbreak of the Iraq War in late February.According to the Bahrain News Agency: Bahrain strongly condemns the Houthi attacks on Saudi civilians and key facilities once again.A Russian-appointed official said that the attack by Ukraine on Russian-controlled Crimea has killed two people and injured one.

E-mini NASDAQ-100 Index: Steep Sell-off Puts 12179.50 on Radar

Skylar Shaw

May 06, 2022 11:10

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June E-mini NASDAQ-100 Index futures are down dramatically late in the session on Thursday, erasing the preceding session's rise in a shocking reversal that extends the market's losses in 2022. The move followed a significant stock market gain on Wednesday, with the NASDAQ Composite cash index rising 3.19 percent.


June E-mini NASDAQ-100 Index futures were trading at 12738.75 at 19:19 GMT, down 792.50 or -5.86 percent. The Invesco QQQ Trust ETF (QQQ) is down $19.08, or -5.79 percent, to $310.52.


Investor concerns that the Federal Reserve's rate rise would not be enough to keep inflation under control, requiring the Fed to become more aggressive, sparked the sell-off.


Large tech stocks were under pressure, with Meta Platforms, which is owned by Facebook, and Amazon falling 5.8% and 7.1 percent, respectively. Microsoft's stock fell 4.7 percent.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The return of the decline will be signaled by a trade through 12709.75. The primary trend will turn to up if 13555.25 is crossed.

13583.75 to 12709.75 is the minor range. The market is now trading below its pivot around 13146.75, which is the closest barrier.

Short-Term Prospects

Trader response to the pivot at 13146.75 will decide the direction of the June E-mini NASDAQ-100 Index into Thursday's closing.

Bearish Prospects

The presence of sellers will be shown by a persistent move below 13146.75. Look for a test of the major bottom around 12709.75 if this develops enough negative momentum.


Taking out 12709.75 might set off a sell-off, with the primary bottom at 12179.50 on March 5, 2021 being the next significant target.

Positive Outlook

Late in the session, overtaking the pivot at 13146.75 will signify the return of buyers. This might result in a price increase from 13555.25 to 13583.75. If this region is broken, an acceleration to the upside is possible, with 13989.25 being the next major upside objective.

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