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On March 26, Huang Xinyu, Director of the Medical Service Management Department of the National Healthcare Security Administration, stated at a press conference held by the State Council Information Office that the "Opinions on Accelerating the Establishment of a Long-Term Care Insurance System" stipulates that a long-term care insurance system adapted to my countrys basic national conditions should be basically established within approximately three years. By the end of 2028, this system should achieve basic full coverage nationwide. In terms of coordination, it can start with city-level coordination, or explore provincial-level coordination based on local conditions. Cities with the necessary conditions can proceed first, while those without can solidify their conditions before implementation. In general, there will be no "uniform approach" or "one-size-fits-all" approach.The CEO of Abu Dhabi National Oil Company stated: When Iran uses the Strait of Hormuz as leverage, people in every country around the world will pay the price at gas stations, supermarkets, and pharmacies. No country should be allowed to disrupt the global economy in this way, not now, and never in the future.The CEO of Abu Dhabi National Oil Company (ADNOC) stated that weaponizing the Strait of Hormuz is "economic terrorism."On March 26th, the overnight SHIBOR was 1.3200%, up 0.10 basis points; the 7-day SHIBOR was 1.4380%, up 0.30 basis points; the 14-day SHIBOR was 1.5060%, down 0.52 basis points; the 1-month SHIBOR was 1.5030%, down 0.15 basis points; and the 3-month SHIBOR was 1.5135%, down 0.20 basis points.The most active palladium futures contract fell 4.00% intraday, currently trading at 357.85 yuan/gram. The most active platinum futures contract saw its intraday decline widen to 3.48%, currently trading at 493 yuan/gram.

S&P 500 Price Forecast — Stock Market Looking for Footing

Florala Chen

Aug 24, 2022 15:54

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In the E-mini contract, the S&P 500 has gained a little bit of stability during the Tuesday trading session as we get closer to a critical support level.

Technical Analysis of the S&P 500

In the early stages of the E-mini contract, the S&P 500 has moved in a rather narrow range. Having said that, this week is the Jackson Hole Symposium, which is practically guaranteed to make a lot of noise. In this case, I believe the trading public will be paying great heed to central bankers' pronouncements, which, of course, may sometimes result in complete pandemonium.


In this case, I believe we could have a brief rebound followed by increased selling pressure. The 200-Day EMA is located around 4185, and there is considerable resistance at the 4300 level above. It's also important to pay attention to the 50-Day EMA, which is at 4082 and climbing below; it may provide dynamic support.


I do believe that it is extremely possible that traders will look to the 50-Day EMA to salvage the market upward, regardless of whether or not this turns out to be the case. If we break it down below that, the market is probably just trying to get to the 4000 level. Anything below the 4000 mark indicates that we have once again altered our mentality and that more downside is yet to come.


One thing you can certainly bet on, in my opinion, is a lot of noisy volatility, mostly as a result of the central bankers' ranting in Wyoming. They will almost certainly underline their resolve to battle inflation, which means that monetary policies will continue to tighten throughout the globe.

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