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On January 16th, the China National Committee on Ageing and China Life Insurance Company Limited signed a strategic cooperation agreement in Beijing. According to the agreement, during the 15th Five-Year Plan period, both parties will jointly dedicate themselves to the development of the elderly care industry, improve modern insurance services for the elderly, and support the development of the elderly care industry. The cooperation will focus on areas such as conducting national education on population aging, organizing special research on elderly-related issues, developing elderly-related insurance, promoting the social participation of the elderly, and creating a strong social atmosphere of respecting, loving, and helping the elderly.On January 16, both sides reaffirmed their commitment to multilateralism, support for the UNs central role in international affairs, and commitment to maintaining and improving the rules-based multilateral trading system with the World Trade Organization at its core, as well as safeguarding the stability and smooth operation of global industrial and supply chains. Canada attaches importance to the global governance initiatives proposed by China. Both sides agreed to jointly promote the improvement of global governance and strengthen cooperation on issues such as accelerating the implementation of the UN 2030 Agenda for Sustainable Development and reforming the international financial system. Canada supports Chinas hosting of the 2026 APEC summit and looks forward to the success of all activities throughout the year. Canada also thanked China for supporting Canadas bid to host the 2029 APEC summit. Both sides will seek to strengthen exchanges and cooperation within the G20 framework and agreed to deepen cooperation in the climate and environment fields through mechanisms such as the Ministerial Conference on Climate Action, the China-Canada International Cooperation Committee on Environment and Development, the Kunming-Montreal Global Biodiversity Framework, and cooperation documents such as the Memorandum of Understanding on Climate Change Cooperation between China and Canada and the Memorandum of Understanding on Environmental Cooperation between China and Canada.On January 16, both sides agreed to strengthen law enforcement cooperation in accordance with their respective laws to combat corruption, transnational crimes such as online and telecommunications fraud, and synthetic drugs. Both sides agreed to continue the annual meeting mechanism of the China-Canada Law Enforcement Cooperation Working Group, with anti-drug dialogue as an important component, to achieve more concrete results in safeguarding the safety of the people of both countries.On January 16, both sides agreed that people-to-people exchanges are the foundation of bilateral relations and agreed to strengthen cultural exchanges to enhance mutual understanding and cooperation. They decided to relaunch the China-Canada Joint Cultural Committee. Both sides are committed to strengthening exchanges and cooperation in culture, education, arts, cultural heritage, and creative industries, and enhancing exchanges between the two countries legislative bodies and local governments. Both sides agreed to provide support and facilitation for media outlets from both countries working in each others countries and to provide greater convenience for personnel exchanges. Both sides agreed to provide facilitation for their respective diplomatic missions.On January 16, both sides welcomed the establishment of the China-Canada Financial Working Group to strengthen exchanges on financial issues and other matters. The working group will report to the co-chairs of the Economic and Financial Strategic Dialogue. The two leaders also welcomed the signing of the "Third Extension and Amendment Agreement to the Bilateral Currency Swap Agreement between the Peoples Bank of China and the Bank of Canada on RMB/CAD."

S&P 500 Price Forecast – Stock Markets Running Out of Momentum

Steven Zhao

Oct 28, 2022 15:41


Technical Analysis of the S&P 500

During the trading session on Thursday, the S&P 500 E-mini contract fluctuated back and forth as it seemed that momentum was beginning to wane. As we ended up producing a significant shooting star during the previous session, the market is now expected to continue to receive a lot of inquiries regarding the probable direction of the stock market. It's probable that we will keep moving down and that the long-term downtrend will continue if we break back down below the 50-Day EMA. I would anticipate losing 3800 at that time and moving on to the 3600 level.


On the other hand, it's possible that the upside will be challenged further into the 4000 level if we were to break above the top of the shooting star from the Wednesday session.


However, I do believe that this is a situation where you should be looking for shorting opportunities as the Federal Reserve will have to continue tightening monetary policy. Of course, there is also the possibility that the market could receive a shock next week as the Federal Reserve returns to the scene with its monetary policy statement and of course the press conference that follows.


Wall Street continues to believe that the Federal Reserve will save it, despite the fact that the Fed has repeatedly said that it wants lower stock prices and to reduce demand.

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