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On January 2nd, Barclays maintained its forecast of a Federal Reserve rate cut in 2026. In a report, the banks US economists stated that the Fed is expected to cut rates twice in 2026, each time by 25 basis points, in March and June respectively. They believe that the risk of delaying rate cuts is greater compared to this baseline scenario. Information from the Feds December policy meeting minutes aligns with Barclays expectations, namely that the January meeting may hold rates steady, with economists noting that "the Federal Open Market Committee needs time to assess the impact of recent rate cuts."On January 2nd, Louis Navellier & Associates, Chief Investment Officer, stated in a report that the Federal Reserve will cut interest rates four more times in 2026 to bring the level down to the neutral point. He pointed out that weakening home prices are exacerbating deflationary concerns, a problem the Fed needs to address. He stated, "Furthermore, given that the US economy hasnt created many jobs, theres no reason for the Fed to maintain a tight stance." Navellier also noted that if deflationary pressures intensify further, more rate cuts may be necessary.On January 2nd, Changan Automobile announced that its sales volume in 2025 will reach 2.913 million vehicles, a year-on-year increase of 8.5%, setting a new high in nearly nine years. Among them, sales of new energy vehicles will reach 1.109 million vehicles, a year-on-year increase of 51%.Hong Kong-listed tech stocks continued their upward trend in the afternoon, with Baidu (09888.HK) rising over 8.6%, NetEase (09999.HK) rising over 6%, Trip.com (09961.HK) and Alibaba (09988.HK) rising over 4%, and Tencent Holdings (00700.HK), Kuaishou (01024.HK), and JD.com (09618.HK) rising over 3%.January 2nd - According to calculations by the Financial Times, European Central Bank (ECB) President Christine Lagardes total income in 2024 is approximately €726,000, about 56% higher than the €466,000 "base salary" disclosed in the ECBs annual report, and almost four times that of Federal Reserve Chairman Jerome Powell. The ECB is not bound by the strict rules applicable to EU-listed companies, which require companies to provide "comprehensive and reliable information on directors compensation." In addition to her base salary, Lagarde receives approximately €135,000 in housing and other benefits. She also receives approximately €125,000 in income for her role as a member of the Bank for International Settlements (BIS) board. These benefits and additional salaries are not mentioned in the ECBs annual report. The Financial Times calculations are based on the ECB and BIS annual reports, as well as a technical document outlining the "terms and conditions of compensation" for senior ECB officials. Due to a lack of relevant data, this estimate does not include the ECBs pension contributions, healthcare, and insurance contributions for Lagarde.

Turns Short-Term Bullish on Trade Thru 12096.75

Skylar Shaw

May 26, 2022 10:10

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Shortly after the cash market closed on Wednesday, June E-mini NASDAQ-100 Index futures were trading higher. Following the publication of minutes from the Federal Reserve's most recent monetary policy meeting, the market is up, although off its highs.


The minutes revealed that officials agreed that the US economy was quite robust as they struggled to control inflation without causing a recession.


June E-mini NASDAQ-100 Index futures were trading at 11922.50 at 20:17 GMT, up 151.50 or 1.29 percent. The Invesco QQQ Trust ETF closed at $291.33, up $4.09 or 1.42 percent from its previous close.


The minutes from the Federal Reserve's meeting on May 3-4 revealed that policymakers recognized the need to increase rates fast, maybe more than the market has priced in, to combat recent inflationary pressures.


The index increased following the minutes since there were no surprises.

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 11491.25. The major trend will turn to up if the price breaks through 12594.00.


The small downward trend continues. The minor trend will be changed to up with a transaction through 12096.75. This will also alter the market's momentum upward.


A long-term retracement zone between 11671.25 to 10468.25 is the primary support on the downside.


The first barrier on the upside is a small pivot at 12042.75. After it, at 12042.75, there is a second minor pivot.

Short-Term Prospects

The early Thursday direction of the June E-mini NASDAQ-100 Index will most likely be determined by trader response to 11671.25.

Positive Outlook

The presence of buyers will be shown by a prolonged advance over 11671.25. The minor peak at 12096.75 is the initial upside objective, followed by 12042.75.


Taking out 12096.75 might provide the necessary upward impetus to attack the 50% level at 12523.25, then the major peak at 12594.00. If a trade is made through this level, the major trend will flip to up, signaling further upside potential.

Bearish Prospects

A prolonged move below 11671.25 indicates weakness. If the minor bottom at 11576.25 is broken, the minor bottom at 11491.25 should be tested quickly. This might be the starting point for a run to the major bottom at 10913.75 on November 2, 2020.

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