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On January 24th, according to Dongan Power, Gu Jie, Vice President of XPeng Motors, led a core team to visit Dongan Power. Zhao Xingtian, Deputy General Manager of Dongan Power, along with heads of R&D, marketing, quality, and sales departments, accompanied them during the meeting. The two sides engaged in in-depth exchanges and reached a consensus on core issues such as the advancement of mass production projects and the development of next-generation engine technology.January 24th - Public discontent in Denmark over the USs demand for Greenland is spreading to supermarket shelves, and a mobile app that "helps" Danish consumers identify the country of origin of goods so they can refuse American products has recently become very popular in the country. Reportedly, an app called UdenUSA (meaning "No America") is gaining widespread popularity in Denmark. The app was developed by 21-year-old Dane Jonas Piper and his friend Malte Hensbel. Piper stated that many consumers want to avoid buying American-made food, but often find it difficult to identify the country of origin in supermarkets. The UdenUSA app addresses this need by indicating the country of origin for each product.On January 24, local time, an Iranian official stated that the Iranian military is prepared to respond to any possible actions by the United States. The unnamed official said, "The Iranian military is prepared for the worst-case scenario, but we hope that the troop increase will not escalate into actual confrontation." He added, "We consider any potential attack by the United States to be an existential threat to Iran." The official also warned the United States and Israel against such risky actions, stating, "The collapse of Iran would directly lead to the collapse of the region, including Israel." The official added, "Our situation is far better than during the 12-Day War; there is no longer any so-called surprise attack."On January 24th, it was reported that on December 24th of last year, four departments, including the Beijing Municipal Commission of Housing and Urban-Rural Development, issued the "Notice on Further Optimizing and Adjusting Relevant Policies of Beijing Real Estate," which involved adjustments to purchase restrictions and credit optimization. Overall, since the implementation of the new policy a month ago, transaction volume has been steadily increasing. Data from Centaline Property shows that since the release of the notice, the average daily number of new home sales contracts has increased by 44.6% month-on-month, with improved housing projects outside the Fifth Ring Road performing particularly well. In the secondary market, after the new policy, the average daily number of viewings at real estate agencies has increased by more than 20% compared to normal, and the average daily transaction volume of secondary homes has exceeded 500 units.January 24th - The Fourth Session of the 14th Beijing Municipal Committee of the Chinese Peoples Political Consultative Conference (CPPCC) solemnly opened at the Beijing Conference Center at 9:00 AM today (January 24th). The opening session will review and adopt the "Agenda of the Fourth Session of the 14th Beijing Municipal Committee of the CPPCC," hear the "Work Report of the Standing Committee of the 14th Beijing Municipal Committee of the CPPCC," and hear the "Report of the Standing Committee of the Beijing Municipal Committee of the CPPCC on the Work of Proposals Since the Third Session of the 14th CPPCC."

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.