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Honda plans to collaborate with Mythic, a Texas-based technology company, to develop a system-on-a-chip for its software-defined vehicle (SDV).February 4th - At 10:00 AM today (February 4th), the State Council Information Office held a press conference to introduce the relevant situation regarding anchoring agricultural and rural modernization and solidly promoting the comprehensive revitalization of rural areas, and answered questions from reporters. The conference introduced that the Central Document No. 1 clearly outlines the major tasks and key work in the "agriculture, rural areas, and farmers" sector this year. The main content can be summarized as "four key tasks and two supporting guarantees." The "four key tasks" are: improving the comprehensive agricultural production capacity and quality efficiency; implementing regular and precise assistance; actively promoting stable income growth for farmers; and promoting the construction of livable, workable, and beautiful villages according to local conditions. The "two supporting guarantees" are: strengthening institutional and mechanism innovation and strengthening the Partys comprehensive leadership over "agriculture, rural areas, and farmers" work.February 4th - At 10:00 AM today (February 4th), the State Council Information Office held a press conference to introduce the relevant situation regarding anchoring agricultural and rural modernization and solidly promoting the comprehensive revitalization of rural areas, and answered questions from reporters. The conference stated that in the past year, farmers living standards have significantly improved. Farmers incomes have continued to grow, with the per capita disposable income of farmers reaching 24,456 yuan in 2025, a real increase of 6% over the previous year. The income gap between urban and rural residents has narrowed from 2.56:1 in 2020 to 2.31:1, and farmers living conditions, including clothing, food, housing, and transportation, have continuously improved.According to Axios, nuclear talks between the United States and Iran are expected to begin in Oman on Friday. The Trump administration has agreed to Irans request to move the talks from Türkiye.February 4th - In 2025, courts across China vigorously promoted the clearing of overdue payments owed by government agencies and public institutions to small and medium-sized enterprises (SMEs), concluding 9,166 cases and recovering 31.142 billion yuan. Courts strictly implemented the judicial interpretation on "back-to-back" clauses (the "Reply on the Validity of Clauses Between Large Enterprises and SMEs Where Payment is Predicated on Third-Party Payment") to prevent large enterprises from abusing their dominant position to "bully" smaller enterprises. Courts nationwide directly applied this judicial interpretation to conclude 709 cases, helping SMEs recover 1.9 billion yuan in overdue payments.

Price Action Suggests Momentum Shifting to Down

Steven Zhao

Jul 25, 2022 15:57



After the session's midpoint on Friday, September E-mini S&P 500 Index futures started to move down as the benchmark index was hampered by a poor performance in the technology sector. Poor results by Twitter and Snap were the main drivers of the sell-off, which sparked a wave of selling in social media companies.


September E-mini S&P 500 Index futures are now trading at 3949.00, down 52.25 or 1.31 percent, as of 17:53 GMT. The S&P 500 Trust ETF (SPY) is down $5.49 or 1.38 percent, trading at $393.30.


Early in the morning, the market suffered from Twitter and Snap's dismal quarterly sales. By mid-session, Twitter was down 1.2 percent, and Snap's shares had fallen about 40%.


Meta Platform Inc. and Alphabet Inc., two industry leaders in online advertising, saw their shares fall by 7.5% and 5.6%, respectively, hurting the NASDAQ.


According to Reuters, a poll released on Friday revealed that U.S. business activity fell in July for the first time in almost two years, adding to worries about an economy that is being stymied by high inflation, increasing interest rates, and declining consumer confidence.

Swing Chart Technical Analysis for the Day

The daily swing chart indicates that the overall trend is upward. The intraday price movement, however, indicates momentum could be swinging downward.


A move through 4016.25 will indicate that the uptrend has resumed. The primary trend will switch to down if a transaction is made through 3723.75.


The middle range is 4204.75 to 3639.00. The index is now challenging the 3821.75 to 3988.75 retracement range.


The minor range is 3723.75 to 4016.25. A possible objective on the downside is its 50 percent mark at 3870.00.


3639.00 to 4016.25 is the short-term range. The last possible support before the big bottom at 3639.00 is located in its retracement range, which runs from 3815 to 3773.50.

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