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February 11th - At a regular press conference held by the Taiwan Affairs Office of the State Council on February 11th, a reporter asked: "Recently, the Taiwan Coast Guard announced that it will carry out so-called security maintenance work during the Spring Festival. What is your comment on this?" Spokesperson Zhu Fenglian stated that the Spring Festival is the most important traditional festival for the Chinese nation. If the DPP authorities dare to provoke trouble unnecessarily during this peaceful festival, they must bear all the consequences.February 11th, Futures News: According to the official WeChat account of Tsingshan Industrial Group, 1. Cooperation Overview: Tsingshan Industrial Group and the government of Madagascar signed a memorandum of understanding on a mining and green industry park project. Both parties will jointly explore the investment and construction of a large-scale comprehensive park integrating mineral development, processing and transformation, green industries, and supporting infrastructure, based on Madagascars advantageous mineral resources. 2. Construction Plan: The project plans to include the construction of key infrastructure such as its own port, highways, and airport, aiming to promote the extension of the mineral resource industrial chain and the enhancement of added value locally, thereby promoting industrialization and regional economic development. 3. Official Support: Madagascars President Michael Landrianilina stated that the project aligns with the national industrialization development strategy. Madagascar has established a high-level ministerial joint mechanism to conduct in-depth discussions and feasibility studies with Tsingshan on mineral resource policies, legal frameworks, land supply, and environmental assessments.February 11th - At a regular press conference held by the State Council Taiwan Affairs Office on February 11th, spokesperson Zhu Fenglian stated that the average load factor for cross-strait routes is expected to reach 80% by 2025, fully reflecting the strong demand for direct cross-strait flights. She expressed hope that Taiwan would heed public opinion and promptly remove unreasonable restrictions on cross-strait air transport, allowing airlines on both sides to independently arrange flight schedules based on market demand. Whether there is actual demand for flights should be determined by the market; the DPP authorities are welcome to lift restrictions and see for themselves.February 11th - The yen strengthened against most G10 and Asian currencies in early trading, primarily driven by concerns about potential intervention in the foreign exchange market by Japanese authorities. Philip Wee, a foreign exchange strategist at DBS Bank, noted that Japanese Finance Minister Satsuki Katayama and top foreign exchange official Jun Mimura have reiterated their close monitoring of any excessive yen depreciation. He stated, "Their statements have kept market concerns about foreign exchange intervention alive." Wee added that the USD/JPY pair fell for the second consecutive trading day overnight, driven by profit-taking, after already declining 0.9% on Monday.February 11 – The State Council Taiwan Affairs Office held a regular press conference on February 11. A reporter asked about a Taiwanese media report that the US State Department recently responded to a reporters question by saying that the US welcomes Taiwans proposed NT$1.25 trillion "Special Defense Act." In response, spokesperson Zhu Fenglian emphasized that Taiwan is Chinas Taiwan. Resolving the Taiwan issue is a matter for the Chinese people themselves and brooks no external interference. The US should adhere to the one-China principle and the provisions of the three Sino-US joint communiqués, exercise caution in its words and actions on the Taiwan issue, stop sending wrong signals to "Taiwan independence" separatist forces, and stop interfering in internal affairs.

S&P 500 Continues to Threaten a Breakout

Alice Wang

Jul 20, 2022 14:50

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As we continue to pose a serious danger of a large breakthrough, the S&P 500 has surged pretty considerably throughout Tuesday's trading session.

Technical Analysis of the S&P 500

Due to the continued loud behavior, the S&P 500 has shown its bullishness throughout Tuesday's trading session. Given that the 3900 region runs all the way to 3950, this market will likely continue to be highly loud. Additionally, the 50 Day EMA is also nearing this region, and earnings season is already underway. Or, to put it another way, it's a jumble of issues waiting to happen.


Short-sellers will almost certainly seize on signs of tiredness because, to be honest, the economics does not indicate that this market should rise. Additionally, there are significant issues with liquidity, so you must pay great attention to it as well. Even if the economy does have some impact on the stock market, it really really comes down to liquidity, thus the Federal Reserve's restrictive monetary policy will also have some negative effects.


Wall Street has been pretending for a while now that the US economy has improved, so when it genuinely struggles, it should not come as a major surprise that they are trying to drive the market higher. Keep in mind that Wall Street and the economy are unrelated in any way. Having said that, we have a chance to advance all the way to the 4200 level if we do break over the 4000 level. I believe the trend has shifted above that point.


Alternately, if we go below the 3700 level, it's likely that we will reach the 3640 level, which previously served as a support zone.

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