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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.On July 10th, the "Guangdong Provincial Information and Communication Industry 15th Five-Year Plan (Draft for Public Comment)" was released for public comment. The plan includes actively organizing enterprises to participate in national commercial trials of satellite IoT services, planning the construction of an integrated low-Earth orbit constellation for communication, navigation, and remote sensing in the Guangdong-Hong Kong-Macao Greater Bay Area, and actively promoting the deployment of key infrastructure such as satellite-to-ground interconnection centers and gateway stations. It also aims to promote the integrated development of satellite communication and terrestrial mobile communication infrastructure, explore network coverage in low-altitude airspace above 300 meters and remote areas, develop applications such as direct mobile phone connection to satellite and satellite IoT, and accelerate the realization of a million satellite communication users. The plan also includes implementing the "Broadband Guangdong Maritime" special action to gradually build a marine "5G/5G-A + submarine optical cable + satellite" communication and sensing network.The Hang Seng Tech Index rose more than 2%, with SenseTime (00020.HK) and Kuaishou (01024.HK) rising more than 4% among its constituent stocks.A spokesperson for the Government Pension Investment Fund of Japan (GPIF) said they were aware of Finance Minister Satsuki Katayamas remarks but declined to comment.On July 10th, the "Guangdong Provincial Information and Communication Industry 15th Five-Year Plan (Draft for Public Comment)" was released for public comment. The draft includes support for Shaoguans application to become a computing network hub interconnection center, promoting the upgrading and innovative development of the Guangzhou Internet Exchange Center of the Ministry of Industry and Information Technology and the National (Shenzhen-Qianhai) New Internet Exchange Center, accelerating the construction of the Shenzhen-Guangzhou-Shaoguan data corridor, and building a computing power network foundation radiating the Guangdong-Hong Kong-Macao Greater Bay Area. It also integrates into the national computing power interconnection system of "1+M+N," creating regional nodes for national computing power interconnection and multiple distinctive industry nodes. The plan continues to advance the "Millisecond-level Computing" special action in urban areas, actively building a benchmark city for computing networks. Furthermore, it promotes efficient collaboration between data computing, green power grids, and storage, facilitating the coordinated construction of computing centers with new energy sites and power grids, and strengthening computing power interconnection, collaboration, and intelligent scheduling.

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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