The E-mini S&P 500 fell by about 1.3% in the early European trading session. The U.S stock markets are pressured by recession concerns, high inflation, and tight monetary policy. Demand for safe-haven assets like the dollar increased and boosted the greenback by about 1.1%. Speculations about a rollback of some US tariffs on Chinese imports worries some investors which pressure the U.S equities. The Markets were closed due to the Independence day yesterday.

The intraday perspective trades below the week’s and day’s value areas while the market rotates inside of the previous week’s value close area, as it is testing the lower extreme for buyers currently. The prior week’s VAL close level might be targeted and eventually serves as buying level, depending on the auction around it.

The monthly perspective found some potential core buyers around the decade’s developing VWAP and prior resistance level which brought the daily periodicity into the current balanced price range, therefore traders may lean on the extremes of the particular bracket area. Sellers still could target the bracket lows as the market trades imbalanced to the downside below the Year’s value area, giving the index a more likely bearish bias.

The leveraged funds sector net sold about 70.867 contracts of the ES Futures as of June 28 with a great amount of long liquidations and new short positions which increased the total net hold short positions in this market of about -274.438 contracts. Asset managers were quite mixed with long liquidations and short covering in the particular mentioned week.

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