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On June 14, Alibaba Group responded to inquiries, stating that the rumor of Zhou Jingrens resignation was completely false. "We have noticed that some people have been organizing the spread of this rumor online in recent days, and we urge everyone not to spread false information."On June 14th, a special meeting to promote the construction of the Cross-Strait Integrated Development Demonstration Zone was held in Xiamen, Fujian Province on the 13th. Wang Huning, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Chairman of the National Committee of the Chinese Peoples Political Consultative Conference, attended and delivered a speech. He stated that it is necessary to thoroughly implement the spirit of the Fourth Plenary Session of the 20th CPC Central Committee, implement General Secretary Xi Jinpings important expositions on Taiwan-related work and the Partys overall strategy for resolving the Taiwan issue in the new era, and build a high-quality Cross-Strait Integrated Development Demonstration Zone to promote greater achievements in cross-strait integrated development during the 15th Five-Year Plan period. Wang Huning stated that during the 15th Five-Year Plan period, deepening cross-strait integrated development and building the Cross-Strait Integrated Development Demonstration Zone will usher in broad development opportunities and prospects. Support should be given to Fujian to explore new mechanisms, new paths, and new models for cross-strait integrated development, promote higher-quality, deeper, and broader integration, and further leverage the leading role of the Cross-Strait Integrated Development Demonstration Zone.June 14th - This morning, the Songjiawan Downward Tunnel and the Pujia Gou Upward Tunnel, two key connecting tunnels located at Lezhi Station in Ziyang, Sichuan Province, were successfully completed, marking a crucial breakthrough in the hub connection project between the Chengdu-Chongqing Central Line High-Speed Railway and the Chengdu-Dazhou-Wanzhou High-Speed Railway. Lezhi Station is a newly built station and the only hub station connecting both high-speed railways simultaneously. The two connecting tunnels link the main lines towards Chengdu and Chongqing respectively, providing convenient conditions for trains to cross lines and turn around for traffic congestion relief.June 14th - According to US sources on the 13th, a US military fighter jet crashed on a mountain in Washington state, triggering a wildfire. The pilot ejected safely. It is understood that the F/A-18 Super Hornet fighter jet, belonging to the US Marine Corps, was conducting "routine training" before the crash.On June 14, it was reported that on June 13, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held talks with Mongolian Foreign Minister Battsetseg in Ulaanbaatar. Wang Yi emphasized that China is willing to work with Mongolia, under the strategic guidance of the two heads of state, to continue efforts towards building a community with a shared future of peaceful coexistence, mutual assistance, and win-win cooperation. Chinas foreign policy has always maintained continuity and stability, and China is willing to continue to be a trustworthy and reliable partner for Mongolia, providing sustainable support for Mongolias development and revitalization. Chinas 15th Five-Year Plan provides a comprehensive plan for high-quality development over the next five years and also offers the world a list of opportunities. The Chinese and Mongolian economies are highly complementary, and strengthening the alignment of development strategies is conducive to expanding cooperation areas, tapping cooperation potential, and promoting the economic and social development of both countries. China is willing to work with Mongolia to jointly build the Belt and Road Initiative with high quality, expand economic and trade cooperation, promote the improvement and increase of cooperation in various fields, and achieve more tangible results.

S&P 500 Weekly Price Forecast – S&P 500 Breakthrough Resistance Barrier

Alice Wang

Nov 14, 2022 16:46

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Weekly Technical Analysis for the S&P 500

The S&P 500 E-mini contract has gained quite a bit this week as speculation about the Federal Reserve relaxing monetary policy has increased. Despite the fact that the US inflation rate came in at 7.7% year-over-year, it is difficult to foresee a scenario in which the Federal Reserve will ease monetary policy. In light of this, we now find ourselves in a scenario where the market has seized the initiative.


Before it's all said and done, I predict there will be a lot of dissatisfied traders. I view this situation through the lens of a "bear market rally."


Remember that some of the most volatile sessions take place in the middle of a bear market because traders were waiting for an excuse to go long and found it over the trading week. Whether or not that holds true moving forward, that will be entirely different. In the end, it's feasible that we could swiftly return to the 3700 level if we were to reverse course and break down below the 3950 level. On the other hand, we might have a potential figure breakout if we were to break above the 4050 level, which is where the 50-Week EMA is now located.


In the end, it's still uncertain whether this market has just produced a small "double bottom."


Remembering that we have been in a decline channel for some time is also important. Ultimately, I believe that there will be a great deal of volatility.

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