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On January 26th, Moodys Analytics stated in a report that Australian consumer price data to be released on Wednesday is expected to show that the year-on-year overall inflation rate in December may have slowed to around 3% from 3.4% in November. The report stated that this was mainly driven by a favorable base effect in electricity prices and the normalization of holiday travel prices. However, the report added that food inflation and sticky price pressures generally present in the services sector are likely to keep core inflation around 3% to 3.2%, thus preventing a more significant decline.Nomura Securities raised its target price for Alibaba (BABA.N) from $193.00 to $237.00.January 26th – The Fifth Session of the 14th Guangdong Provincial Peoples Congress opened in Guangzhou this morning, with Guangdong Governor Meng Fanli delivering the government work report. The report stated that in 2026, Guangdong will resolutely deepen reforms and fully unleash the innovation and creativity of the whole society and the surging momentum for high-quality development. It will continue to deepen reforms in key areas, improve the whole-process, efficient, and verifiable reform promotion and implementation mechanism, and ensure the effective implementation of various reform tasks deployed by the state and province. It will accelerate the implementation of the second batch of authorized items in the Shenzhen comprehensive reform pilot program, proactively study and address new issues arising in economic and social development, and deepen fiscal reform. It will focus on the "five major aspects" of finance, cultivate and introduce more financial market entities, support the Shenzhen Stock Exchange in deepening the reform of the ChiNext board, and accelerate the expansion and quality improvement of the regional equity trading market.January 26 - Faraday Future reports that it has completed regulatory certification for its first EAI robot and released partial design drawings of the robot. Regulatory certification for other products in the first batch is also progressing rapidly, with the goal of starting deliveries in the same month of release.January 26th - The Fourth Session of the 14th Henan Provincial Peoples Congress opened this morning, with Governor Wang Kai delivering the government work report. The report mentioned strengthening the modern service industry system. It outlined actions to expand and improve the service industry, promoting the specialization and high-value-chain extension of producer services and facilitating the high-quality, diversified, and convenient development of consumer services. It also emphasized the integrated development of high-level industrial design centers, metrology and testing centers, certification centers, pilot-scale testing bases, and common technology platforms to continuously enhance scientific and technological service capabilities. Furthermore, it called for increased investment in insurance and funds in Henan, strengthening venture capital funds, implementing a special action to improve the quality and efficiency of science and technology finance, supporting the listing of high-quality enterprises and mergers and acquisitions of listed companies, increasing the proportion of direct financing and equity financing, and adding 1 trillion yuan in social financing. Finally, it supported Zhengzhou in creating a national pilot city for the integration of industry and finance, and cultivated 20 new provincial-level benchmark enterprises for the integration of industry and finance.

Stock Markets Continue to Threaten a Breakout

Cory Russell

Aug 09, 2022 14:49

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During the Monday trading session, the S&P 500 surpassed the 200 Day EMA, where it is now meeting with a lot of resistance. As a result, things can get intriguing.

Technical Analysis of the S&P 500

On Monday during trade, the S&P 500 first declined before turning around and resuming its surge. The market had reached the 200 Day EMA at midday and was barely below the critical 4200 level. A rise to the 4300 level is conceivable if the market were to break through the 4200 level. However, bear in mind that the CPI statistic from the United States will be released on Wednesday and will offer traders more to consider on the inflationary outlook.


People tend to place a lot of faith in the Core CPI number since the Federal Reserve does like to pay careful attention to it, particularly if it comes out hotter than expected. Given that, I believe we will be treading a fine line over the next several days. However, if we were to break below the hammer that formed on Friday, it may indicate that the market is eager to sell equities ahead of the number, which I believe to be far more probable than most people know.


After all, there are many worries about future inflation and we are in a recession right now. Given that Wall Street has, very bluntly, made a career not pricing the market in accordance with reality, this does not necessarily imply that it must do so. However, it's clear that there is a lot of technological resistance here, so everything fits together rather well.

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