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July 10th – According to the China Academy of Information and Communications Technology (CAICT), the Satellite Communications Working Group of the Industrial Internet Industry Alliance (hereinafter referred to as the "Satellite Communications Working Group") was officially established in Beijing recently, under the guidance of the Information and Communications Administration of the Ministry of Industry and Information Technology. The Satellite Communications Working Group aims to build a platform for industry exchange and cooperation, accelerate breakthroughs in key core technologies for satellite communications, promote technological innovation and development such as non-terrestrial networks (NTN), and pool resources to jointly cultivate an open and shared satellite communications industry ecosystem, contributing to the construction of a manufacturing powerhouse, a space powerhouse, a cyber powerhouse, and a digital China.July 10th - The China Federation of Logistics and Purchasing (CFLP) released the "2026 China Highway Transport Capacity Development Report" today (July 10th). According to the report, the highway transport market will continue to adjust and optimize in 2025, with the capacity structure accelerating its upgrade towards large-scale, professional, and green development. Enterprises risk resistance and resilience in normalized operations have improved. Survey data shows that fuel-powered vehicles still dominate the current highway freight capacity structure, accounting for approximately 50%, but new energy vehicles have formed an irreversible substitution trend in specific scenarios. Among the surveyed enterprises, the penetration rate of new energy trucks is 44.4%. Of the enterprises that have already purchased new energy vehicles, 37.5% chose to "continue to expand their new energy vehicle fleet," and 37.5% chose to "maintain their existing scale."The main Shanghai silver futures contract surged 4.00% intraday, currently trading at 14,805.00 yuan/kg.On July 10, Japans Nuclear Regulation Authority (NRA) reported on July 9 that improper management of counterterrorism-related classified information at Tokyo Electric Power Companys Fukushima Daiichi and Fukushima Daini nuclear power plants allowed unauthorized personnel easy access to such information. The NRA stated that the two nuclear power plants possessed numerous classified documents related to counterterrorism measures, which should have been strictly managed and stored in designated locations for access only by authorized personnel. However, an investigation revealed that these documents were stored in shared folders on computers across multiple departments, allowing even staff without proper access to view them. According to the NRA, no leaks of classified information have been found so far, but further investigation will be conducted to determine the cause of the information management lapse.July 10th - The Times of Israel, citing a US official on the 9th, reported that Israeli troops will withdraw from one of two "pilot areas" in southern Lebanon in the coming days, paving the way for the next phase of negotiations between Israel and Lebanon. The report stated that, according to a framework agreement reached between Israel and Lebanon in Washington, D.C., Israel agreed to withdraw its troops from two small areas in southern Lebanon where Hezbollah military facilities have been cleared, handing them over to the Lebanese Armed Forces. The report also quoted an Arab official as saying that Lebanon has informed the United States that it will not participate in the new round of Lebanon-Israel talks scheduled for next week in Rome, Italy, until Israel completes its agreed withdrawal. Currently, a timetable for the withdrawal from the second "pilot area" has not been announced.

S&P 500 Price Forecast – Stock Markets Quiet to Open Up Holiday Week

Florala Chen

Nov 22, 2022 15:58

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Technical Analysis of the S&P 500

The Monday trading session saw very little movement for the S&P 500 E-mini contract, which is currently sitting just over the 3950 level and just below the 200-Day EMA, which is at the 4025 level. In the end, I believe that the market will soon make a bigger decision, but for the time being it appears that Wall Street is still searching for the, so one would have to assume that there are some investors who are willing to purchase stocks on the basis of the notion of the "Santa Claus rally."


The 50-Day EMA, located precisely at the 3863 level, enters the picture if the market does break down from this point. I anticipate seeing a large degree of resistance to any selling in that range. The 3800 level and a more serious breakdown could be in danger if we fall below there.


The market is still in a downtrend, despite recent signs of a great recovery, and we have even seen the 200-Day EMA and the downtrend line enter the picture and provide at least some psychological resistance. Keeping this in mind, bear in mind that we are still trying to price in a recession.


We may observe a similar trend in the S&P 500 if the US currency strengthens more. Given enough time, I would fully expect the market to make a larger breakout, but since it is Thanksgiving week, it's highly likely that it may be waiting for that to happen.