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Hong Kong-listed chip stocks declined, with Hua Hong Semiconductor (01347.HK) falling over 5%, SMIC (00981.HK) down 3.8%, Innoscience (02577.HK) down 2.5%, and Biren Technology (06082.HK) down 2.4%.On January 20th, U.S. Trade Representative Greer stated in an interview with The New York Times that if the Supreme Court overturns the global tariffs imposed by President Trump under the National Emergency Act, the Trump administration could implement new tariffs almost immediately. The Supreme Court is likely to rule on the tariff case in the coming weeks, possibly as early as Tuesday. This case represents a major test of presidential power and whether the Supreme Court is willing to limit the broad powers Trump has wielded since returning to the White House in January 2025. Greer indicated that the government would replace these tariffs with other taxes "starting the next day."On January 20th, Futures News reported that with the recent easing of tensions in the Middle East, market concerns about oil supply disruptions have diminished, leading to a decline in the geopolitical premium for crude oil prices. The market is now refocusing on the fundamental situation of weakening demand, resulting in weak price fluctuations. Zhuochuang Information predicts that while OPEC+ has suspended production increases, keeping oil supply stable, weak demand remains a drag on fundamentals, causing weak price fluctuations. The outlook is as follows: In the short term, demand is supported, but overall inventory levels remain high, insufficient support for price increases, and a slight stalemate between buyers and sellers. The market is expected to continue its stable-to-strong trend, with prices remaining generally stable and the supply of low-priced goods decreasing.On January 20th, the State Council Information Office held a press conference to introduce the implementation of the spirit of the Central Economic Work Conference and the progress in achieving a good start to the 15th Five-Year Plan. Zhou Chen, Director of the Department of National Economic Comprehensive Affairs of the National Development and Reform Commission, stated that looking ahead to 2026, my countrys economic structure will continue to optimize, development momentum will continue to evolve, and the overall development trend will continue to improve. Specifically, new technologies, new products, and new scenarios will emerge, and the National Development and Reform Commission is currently planning and promoting a number of landmark and leading major projects in high-tech industries during the 15th Five-Year Plan period. Online, the innovation chain, industrial chain, and talent chain are accelerating their integration. By 2025, the added value of my countrys digital economy is expected to reach 49 trillion yuan, accounting for approximately 35% of GDP, creating even greater market space in the future. On a broader scale, the innovation-leading role of power source regions continues to strengthen. Currently, my country has 24 innovation clusters ranked among the worlds top 100, ranking first in the world for the second consecutive year.Zhou Chen, Director of the Department of National Economic Comprehensive Affairs of the National Development and Reform Commission, said at a press conference held by the State Council Information Office on the 20th that a number of landmark and leading major projects for high-tech industries during the 15th Five-Year Plan period are currently being planned and promoted.

Stock Markets Continue to Put Up a Fight

Cory Russell

Jul 18, 2022 15:12

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Weekly Technical Analysis for the S&P 500

The S&P 500 has declined considerably over the last week, but it's important to remember that the previous three candlesticks have all been hammers, which does indicate that a balance or perhaps a breakout to show signs of life is very approaching. Having said that, I believe the market will, more often than not, exhibit a scenario in which there will be a brief rebound and maybe a bid to test the 4200 level. If we could break through the 4200 level, which has served as a big area of resistance as well, the general trend would alter.


On the other side, this market is likely to crash very severely if we reverse course and break down below the 3640 level and, therefore, the 200 day EMA. Given everything being equal, I think this market is a touch oversold, so a little rebound makes some sense. The market will likely continue to be choppy and noisy, and you should be concerned about the fact that we are almost certainly heading into a recession, despite what some people on Wall Street would have you believe. Keep in mind that we are about to enter the earnings season, so you need to pay close attention to pre-market volatility.


In the end, I believe fading rallies will continue to be effective, but we must wait for those rallies to take place in order to get some opportunity and a better risk-to-reward ratio.

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