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On September 11th, the State Council Information Office held a press conference this morning on the theme of "High-Quality Completion of the 14th Five-Year Plan," highlighting the achievements of health care during the 14th Five-Year Plan period. According to the report, from 2020 to 2024, the number of primary healthcare institutions will increase from 970,000 to 1.04 million, the number of healthcare personnel will increase from 4.34 million to 5.26 million, and the number of medical consultations will increase from 4.1 billion to 5.3 billion.On September 11th, UBS published a report stating that Pop Mart (09992.HK)s share price has fallen approximately 19% from its recent high. The bank attributes this primarily to three factors: profit-taking following its inclusion in the Hang Seng Index, weakening secondary market prices for some products, and a decline in global Google search trends. Its worth noting that the bank has observed similar trends before, but these developments havent altered its positive outlook on Pop Marts fundamentals. UBS believes that Pop Marts current share price correction is creating buying opportunities ahead of anticipated short-term catalysts, including the launch of new Halloween products and its 15th anniversary collection, as well as the crucial Christmas sales season. The bank reiterated its Buy rating on the stock with a target price of HK$432.On September 11th, South Korean President Lee Jae-myung stated that he saw no need to persist with a previously proposed plan to expand the scope of capital gains tax. At a press conference on Thursday, Lee mentioned that the formal proposal, presented at the end of July, would have lowered the capital gains tax threshold from 5 billion won (approximately $720,000) to 1 billion won, raising questions about the governments commitment to reviving the stock market. "Some seem to see this as a litmus test of whether we are truly committed to policies to revive the stock market," Lee said. "If thats the case, I dont think its necessary to persist to the end. I will submit this issue to the National Assembly for review." The original proposal had caused a sharp drop in South Korean stocks and faced strong opposition from retail investors. Following Lees remarks, the Kospi index rose as much as 0.9% during intraday trading on Thursday before retreating. The index had reached a record closing high the previous day, partly due to market expectations that the government would abandon the tax increase proposal.South Korean President Lee Jae-myung: A trade agreement with the United States will be signed when there are reasonable results.South Korean President Lee Jae-myung: The final conclusion of trade negotiations with the United States will be rational.

S&P 500 Price Forecast – Stock Markets Recover From Extreme Oversold Conditions

Lorna Divakar

Dec 22, 2022 16:15

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Technical Analysis of the S&P 500

Due to the fact that it seems as if we are approaching the 50-Day EMA, the S&P 500 has increased a little in the E-mini contract during the trading session on Wednesday. In the end, I believe that this market is attempting to reach some kind of balance between this point and the year's conclusion.


 After all, this is the year's worst period for liquidity, and there have undoubtedly been many worries lately. Even if Wall Street was waiting for a giveaway, Jerome Powell has been sure to underline the concept that the Federal Reserve was going to remain tight for a while.


A significant flush down might occur if we close below the hammer from the Tuesday session, but I don't believe it will happen straight away. Since this market has been overdone, in my opinion, we are merely rebounding until we see an exhaustion candle. I won't hesitate to start selling on that exhaustion candle since, to be honest, I believe it would be a really bearish indicator. In the end, I do believe that we will decline because, very honestly, a severe recession is imminent and it is clear that Wall Street is now beginning to concur with all of the forecasts.


To consider this a prospective market worth purchasing, we would need to at the very least knock out the top of the 200 day EMA. I just don't see how that could occur, therefore I believe you are watching for a chance to go short once again. You just don't know; it may happen in January or it might happen right now.

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