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On January 7th, the Ministry of Industry and Information Technology (MIIT) issued the "Action Plan for the Integration and Empowerment of Industrial Internet and Artificial Intelligence." The plan proposes accelerating technological and product innovation. It encourages AI companies, industrial internet companies, and industrial control companies to jointly promote the intelligent upgrading of industrial communication chips, industrial sensors, industrial terminals, and industrial control systems, and gradually deepen the application of humanoid robots. It also aims to utilize AI to optimize industrial software development processes and models, enhance proactive optimization and assisted generation capabilities, and reduce development barriers and costs. The plan calls for the development of general-purpose tools such as intelligent production scheduling and management software and process parameter self-optimization software. Furthermore, it promotes AI-enabled cybersecurity technology innovation. Finally, it emphasizes strengthening the connection between industrial internet and AI standards systems, improving the industrial internet architecture integrated with AI technology, and strengthening the dissemination and application of standards.On January 7th, the Ministry of Industry and Information Technology (MIIT) issued the "Action Plan for the Integration and Empowerment of Industrial Internet and Artificial Intelligence." The plan proposes accelerating the open and intelligent upgrade of industrial networks. Addressing new industrial intelligence demands such as collaborative production of intelligent equipment, industrial model training and inference, and communication interaction between industrial intelligent agents, the plan supports industrial enterprises in comprehensively utilizing technologies such as 5G/5G-A, industrial optical networks, Time-Sensitive Networking (TSN), Single-Pair Ethernet (SPE), edge computing, and cloud-based control to promote the integrated evolution and capability upgrade of industrial network control, network, and computing. It also aims to explore innovative application models for new industrial networks adapted to industrial intelligent business. Furthermore, the plan calls for accelerating research and development of products such as 5G programmable logic controllers (PLCs), AI routers, and industrial computing network switches, continuously publishing a catalog of new industrial network products, and promoting the transformation of key industries into new industrial networks to form intelligent network capabilities such as self-organizing, self-managing, self-optimizing, and self-repairing.January 7th - Micron Technology announced the launch of the Micron 3610 NVMe SSD, its first PCIe® 5.0 QLC SSD for client computing. This product features a compact single-sided M.2 2230 form factor and is the worlds first to offer a 4TB capacity. The Micron 3610 SSD is currently being sampled to select OEM partners and is available in various form factors and capacities ranging from 1TB to 4TB.On January 7th, the Ministry of Industry and Information Technology (MIIT) issued the "Action Plan for the Integration and Empowerment of Industrial Internet and Artificial Intelligence." The plan proposes strengthening the supply of intelligent computing power for industry. It calls for accelerating the integration and application of the industrial internet with general computing centers, intelligent computing centers, and supercomputing centers, and encouraging public computing power service providers to offer services to industrial enterprises. It guides industrial enterprises to accelerate the deployment of edge computing devices such as integrated edge devices and intelligent gateways. It encourages industrial enterprises and equipment suppliers to jointly promote the intelligent upgrading of edge devices, deploying lightweight computing power modules in production equipment, sensors, and unmanned transport vehicles (AGVs) to improve real-time data processing capabilities. It also calls for accelerating the construction of a nationwide integrated computing power network, promoting the application and promotion of intelligent cloud services pilot projects in the industrial sector, strengthening the application of industrial big data models in efficient cross-regional computing power access and precise matching of cloud, edge, and terminal computing power, and improving the supply capacity and utilization efficiency of intelligent computing in industry.On January 7, Foreign Ministry Spokesperson Mao Ning held a regular press conference. A reporter asked about the USs forced detention of President Maduro and his wife. Mao Ning stated that China consistently opposes unilateral sanctions without a basis in international law or authorization from the UN Security Council, and opposes external forces interfering in Venezuelas internal affairs under any pretext. The USs forced detention of President Maduro and his wife clearly violates international law and the basic norms of international relations, as well as the purposes and principles of the UN Charter. China reiterates its call for the US to immediately release President Maduro and his wife and resolve the issue through dialogue and negotiation.

S&P 500 Price Forecast – Jobs Number Leads to Nothing

Cory Russell

May 07, 2022 10:52


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Technical Analysis of the S&P 500

During Friday's trading session, the S&P 500 dropped down somewhat, dipping below the 4100 barrier. We're attempting to create a hammer by spinning around to demonstrate our support. If we break through the bottom of the hammer, we'll almost certainly go considerably lower. However, if we break over the top of the hammer, the market is likely to go above the 4300 level. Although there is a lot of commotion right above us, it would make sense if we went back and forth and tried to consolidate even more.


The market seems to be deciding whether to break down any deeper, but I believe that a rebound at this time will more than likely show indications of tiredness, allowing us to resume shorting. If we were to break through the 4300 level, we may aim for the 4400 level.


At this point, I believe the market is just trying to figure out what to do next, given the tightening of the Federal Reserve, as well as high inflation and an economic downturn. In other words, it's a tremendous mess right now, and we're going to see a lot of erratic behavior that will continue to sway the market. Because we are effectively in a range-bound scenario, it should be traded accordingly.