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On January 27th, the Zhejiang Provincial Department of Culture and Tourism issued a document to support large-scale commercial performances such as concerts and music festivals held in Zhejiang Province, and to encourage performances to have their only national stop, premiere in Zhejiang, or begin their tour in Zhejiang. The document provides subsidies for eligible performance projects. On January 27th, a staff member from the Zhejiang Provincial Department of Culture and Tourism stated that, according to the document, eligible performance companies will receive subsidies ranging from 200,000 to 1 million yuan. Companies within the province, except for those in Ningbo, are eligible to apply.January 27th - The Fourth Session of the 14th Qinghai Provincial Peoples Congress convened today in Xining, with Qinghai Governor Luo Dongchuan delivering the government work report. The report outlines the main expected targets for Qinghais development in 2026 as follows: GDP growth of around 4.5%, striving for even better results; over 60,000 new urban jobs, over 1.06 million rural laborers transferred to other jobs, and an urban surveyed unemployment rate of around 5.5%; a consumer price index increase of around 2%; per capita disposable income growth in line with economic growth; total grain output maintained above 1.1 million tons; water quality of the main streams of the Yangtze, Yellow, and Lancang Rivers within Qinghai Province consistently maintained at Class I or above; air quality ranking among the best in the country; and achieving the national targets for carbon emission control and major pollutant reduction.On January 27th, Hong Kong stocks opened higher across the board, with the Hang Seng Index rising as much as 1.6%. At midday close, the Hang Seng Index stood up 1.07%, returning to the 27,000-point mark; the Hang Seng Tech Index rose 0.2%. Heavyweight tech stocks showed mixed performance, with Bilibili (09626.HK) surging over 5%, Alibaba (09988.HK) rising 2.18%, while JD.com (09618.HK), NetEase (09999.HK), and Tencent Music (01698.HK) fell over 1%. Gold stocks continued to rise, with Zijin Mining (02899.HK) up over 4% and Zijin Gold International (02259.HK) up over 10%, both hitting record highs. Insurance and banking stocks were also active. Meanwhile, steel, nuclear power, water, and coal stocks were mostly weak.The yield on Japans 30-year government bonds rose 3.5 basis points to 3.655%.Indian Oil Corporation executives said the company will source 50% of its oil through long-term contracts in fiscal year 2027.

Stock Markets Continue to Dance Around a Consolidation Range

Cory Russell

Jul 19, 2022 15:20

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Technical Analysis of the S&P 500

As the week began with a gap, S&P 500 futures were slightly positive throughout the trading session on Monday. However, the same resistance barrier was also in play. To put it another way, we are only banging about the same space. Because of this, I believe a pullback is likely just a matter of time, but if we do break out above the 4000 level, it might alter the mood of the market as a whole. It is obvious that the whole trend would alter if we were to break above the 4200 mark, and there would certainly be a lot of positive momentum.


In light of this, I believe we will most likely observe sporadic signs of tiredness in the meantime, but you never know. A significant amount of selling pressure may arise if we were to drop below the 3700 level, which could lead to a fairly ugly collapse that might push the market as low as the 3600 level. I believe that there will likely be significant volatility going forward owing to headlines, expectations for the Federal Reserve, and a variety of other factors. As a result, you should be very careful when choosing the amount of your stake.


Given that, I believe you should pay extra attention to the next ridiculous story since it appears like we are merely operating on fear and hope at the same time. Regardless, the most crucial thing to focus on is the fact that we are in a decline.

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