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On May 19, from January to April, the sales area of new commercial housing was 282.62 million square meters, a year-on-year decrease of 2.8%, and the decline was narrowed by 0.2 percentage points compared with January to March; among them, the sales area of residential housing decreased by 2.1%. The sales of new commercial housing was 2703.5 billion yuan, a decrease of 3.2%; among them, the sales of residential housing decreased by 1.9%. At the end of April, the area of commercial housing for sale was 781.42 million square meters, a decrease of 5.22 million square meters from the end of March. Among them, the area of residential housing for sale decreased by 4.55 million square meters.According to May 19th news, in April, the total retail sales of consumer goods reached 3717.4 billion yuan, a year-on-year increase of 5.1%. Among them, the retail sales of consumer goods other than automobiles reached 3354.8 billion yuan, an increase of 5.6%. From January to April, the total retail sales of consumer goods reached 16184.5 billion yuan, an increase of 4.7%. Among them, the retail sales of consumer goods other than automobiles reached 14700.5 billion yuan, an increase of 5.2%.Preview: The National Development and Reform Commission is scheduled to hold a May press conference at 10:00 a.m. on May 20 in the conference room on the third floor of the central building of the National Development and Reform Commission.The Hang Seng Indexs early losses widened to 1%, and the Hang Seng Tech Index now fell 1.81%.Shinichi Uchida, Deputy Governor of the Bank of Japan: I am worried that the recent rise in prices will have a negative impact on consumption.

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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