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The main platinum futures contract rose by 4.00% intraday, currently trading at 630.80 yuan/gram.On January 16th, Zhang Yuzhuo, Secretary of the Party Committee and Director of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), stated at a recent meeting of local SASAC leaders that the work of local SASACs during the 15th Five-Year Plan period should strive to achieve five main objectives. These include: a significantly strengthened strategic mission, with more prominent functions in strategic security, industrial leadership, national economy and peoples livelihood, and public services, further increasing the contribution of the state-owned economy to economic and social development; a significantly improved level of technological self-reliance, rapid breakthroughs in key core technologies in key areas, and a steady increase in the number of leading technology enterprises; and a significantly optimized layout, with continued consolidation of controlling positions in important industries related to national security and the lifeline of the national economy, accelerated transformation and upgrading of traditional industries, and a substantial increase in the added value of strategic emerging industries.January 16th - According to a recent meeting of local State-owned Assets Supervision and Administration Commission (SASAC) officials, as of now, 16 local SASACs nationwide have established R&D input-output evaluation systems. Jiangsu, Hebei, Jilin, Heilongjiang, and other provinces have established long-term linkage mechanisms with science and technology, industry and information technology, and finance departments to jointly support provincial state-owned enterprises in deeply participating in national and provincial key R&D programs and key innovation platform construction, promoting the aggregation of more innovation elements to enterprises. Zhejiang has issued its No. 1 document supporting state-owned enterprise technological innovation for two consecutive years, accelerating the improvement of a collaborative research mechanism of "enterprises posing questions, platforms answering questions, workshops verifying questions, and the market evaluating." The innovation ecosystem continues to optimize. Chongqing promotes deep cooperation between industry, academia, and research, with municipal state-owned enterprises reaching 107 cooperation projects with more than 50 universities and research institutes, including Tsinghua University, and jointly building 33 innovation consortia in various forms. Sichuan has built and put into operation the Southwest Science and Technology Achievement Transformation Innovation Service Platform and continues to promote the construction of 10 pilot-scale verification platforms, including those for new energy materials.On January 16th, Yoshihiko Noda, leader of the Constitutional Democratic Party of Japan (CDPP), announced plans to submit the application for the formation of a new party with the Komeito Party to the Ministry of Internal Affairs and Communications that morning. The CDPP and Komeito have decided to name the new party, which aims to "unite forces along the middle path," the "Middle Way Reform Alliance." After completing the application process, the two parties will hold a joint press conference on the afternoon of the 16th, with CDPP leader Yoshihiko Noda and Komeito leader Tetsuo Saito making the announcement. Members of the House of Representatives from both parties will then proceed with the necessary procedures to join the new party.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.5 occurred near Tianzhu County, Wuwei City, Gansu Province at 08:39 on January 16. The final result is subject to the official rapid report.

Stock Markets Continue to Put Up a Fight

Cory Russell

Jul 13, 2022 16:12

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The S&P 500 initially fell during the trading session on Tuesday but turned around to show signs of life.

Technical Analysis of the S&P 500

The S&P 500 has decreased significantly during Tuesday's trading session as a result of the ongoing disruptive behavior. At this time, it seems as if the market could attempt to rise, but before I consider a rally seriously, we would need to break above the 50 Day EMA. Beyond that, there is also the 4000 level, which has a significant psychological component, and the 4200 level, which has very strong structural resistance.


Alternatively, if we go below the candlestick's bottom during Tuesday's trading session, we might pass through the 3800 level and then fall considerably more. Given enough time, I believe that will happen more often than not, but at the moment, it seems like we are just passing the time and attempting to decide what to do next. It's also important to note that the general economic picture hasn't altered significantly and that all of the impulsive swings have been downward with the rare recovery.

 

Since most traders are ill-equipped to operate in a situation where businesses must really create in order to be rewarded in the market, it seems obvious that equities will continue to lose money as inflation and monetary tightening increase. Because the way the markets work is about to undergo a significant change, I would anticipate quite a bit of erratic behavior over the next several months. I'll still be playing this market by fading rallies.