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December 30, 2024

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There are a number of effective swing trading systems being used today. Let’s explore one that is popular among Wyckoffians. It uses two inputs: Point and Figure charts and volume. Let’s review this system with a case study of Charles Schwab Corp. (SCHW).

As markets are fractal, Accumulation and Distribution structures form in daily, weekly and monthly timeframes. Swing trading structures typically form on daily charts that can be identified with 1-box Point & Figure charts and daily vertical bar charts.

Charles Schwab Corp. forms a Swing Trading Accumulation structure between July and October. In July climactic selling (SC) volume ends the decline, and an Automatic Rally (AR) sets the support and resistance of a range-bound condition to follow. Subsequent volume on rallies and reactions tells the tale of latent Accumulation. This chart is rich with Wyckoffian principles, and it has been marked up for your study and evaluation. Let’s turn our attention to the PnF chart to demonstrate how much useful information is present for Swing Trading.

Charles Schwab Corp. (SCHW) Vertical Chart Study

Swing PnF Case Study

Charles Schwab Corp. Swing Trading Case Study. 1-Box PnF

A 1-box PnF chart, properly constructed, will characterize the essential elements of the vertical chart. Note how the PnF strips out much of the noise and highlights the critical chart features. I often hear that traders find volume easier to read and interpret on the PnF chart therefore it is suggested that all PnF charts be plotted with volume. A key feature of PnF charts is the estimation of the price objective determined by the size and structure of the Accumulation. There is no other technique for estimating price objectives as effectively as horizontal PnF counting. PnF is a centuries old, tried and true approach to evaluating and trading financial instruments.

For swing trading purposes, a 1-box reversal PnF is generated using ‘Traditional Scaling’. The up and down swings are clearly revealed with this method. With 1-box PnF the horizontal structure is well defined and the volume patterns are illuminating.

Chart Notes:

  • Selling Climax (SC) exceeds the Distribution count and finds support at $61. An Automatic Rally (AR) immediately follows and demonstrates emerging demand. A Secondary Test (ST) back to $61, which holds, and confirms this level to be the Composite Operator’s ‘Value Zone’. Volume declines on each reaction back to $61 ST level (support).
  • Volume expands on each rally (column of X’s) as the Accumulation matures to conclusion. Lower volume on declines and higher volume on the rally columns reveal that supply is diminishing and absorption has occurred. Higher volume on the rising columns is evidence of new demand by institutions. Accumulation is nearly complete.
  • The pullback to the LPS / BU (see vertical chart) produces a higher low. The turn off that low can be bought with a stop below support. The next entry level is the jump above $65 resistance with a stop below the LPS.
  • The price objective generated by the horizontal Accumulation is estimated by the PnF. There are 17 columns of count producing $17 of upside price objective (17 columns x $1-scale x 1-point reversal = $17). The percent potential of this swing trade is $17 from the $64 count line ($17/$64 = 26.6%). The price objective range is estimated by adding $17 to the $61 low of the Accumulation and the $64 count line. Producing a count range of $78 / $81.
  • The Buying Climax is reached at $82. Thereafter $83 is resistance and a Swing Distribution forms in this price zone. When the Swing PnF count objective is attained, profits are taken. In this example the local Buying Climax surge produces an ideal selling zone.

Campaign PnF Case Study

Charles Schwab Corp. Campaign PnF Case Study. 3-Box Method

Stepping out to the larger timeframe is essential. Please study this 3-box reversal PnF. It reaches back into 2022. A Campaign PnF Count Accumulation has potential objectives of up to $101 / $105. Also, the prior high is $83 which happens to be in the area of the Swing PnF price objective and natural resistance. Be on the alert for the generation of a new Swing PnF count structure in the months ahead. Often these Swing counts will coincide with the higher Campaign PnF counts. We will be watching.

All the Best,

Bruce

@rdwyckoff

A Very Happy and Prosperous 2025 to You and Yours!

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. 

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Investor Insight

With a growing list of natural resources assets vital to growing global demand in the healthcare and technology sectors, VVC Resources presents an investment opportunity for investors looking to diversify their portfolios.

Overview

The global helium market is expected to increase from $4.45 billion in 2022 to $5.03 billion in 2023 at a compound annual growth rate of 12.9 percent driven by the growing demand for helium from the healthcare industry. Helium is important in medicine because this rare element is used in various ways, one of which is as a refrigerant capable of cooling the superconducting magnets in MRI scanners. This non-reactive, non-corrosive, non-flammable noble gas is not only used in diagnosis equipment but also as an adjunct therapy for certain diseases like COPD, asthma and bronchiolitis.

Although helium is the second most common element on earth, global helium supplies are running low. Resource companies that supply industries dependent on helium should explore potential helium reserves and evaluate data to come up with a unique strategy for increasing helium production.

VVC Resources (TSXV:VVC;OTCQB:VVCVF) engages in the exploration, development and management of natural resources – specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel and the expanding green economy.

The company’s portfolio includes a diverse set of assets and high-growth projects, comprising: helium and industrial gas production in the western US; copper and associated metals operations in northern Mexico; and strategic investments in carbon sequestration and other green energy technologies.

VVC currently targets helium reserves in the US by reactivating old gas wells and drilling new wells. In January 2022, the company engaged Foreland Operating to manage the day-to-day helium operations going forward. In March 2022, VVC announced the successful completion and connection of its first helium well in the Syracuse Project. The well, known as the Levens #2, was connected to Tumbleweed Midstream’s Ladder Creek Pipeline, which transports gas to the Ladder Creek Helium Processing Plant in Cheyenne Wells, Colorado. VVC further confirmed the presence of helium up to 1.14 percent from its second drilled well in the Syracuse Project.

VVC also acquired the Monarch Project to further capitalize on the growing demand for helium due to increased global usage. The Monarch Project consists of more than 1,700 acres of gas leases located in Greely County, Kansas with six existing wells. Minor repairs were made to five of the six wells, restoring electric power service, and began generating revenue from the natural gas and helium at low volumes. The focus of this project is the 14 additional potential well locations which are conveniently located for connection to the Tumbleweed pipeline.

VVC’s helium portfolio reached another significant milestone with the installation of 14 miles of its internal gathering system pipeline in the Syracuse Project. The major infrastructure will seamlessly transport gas produced by the company’s helium and natural gas wells to a nearby processing plant. The milestone increases the pipeline’s length from 7 to 14 miles and the project’s capacity from 50 to 100 wells.

VVC is advancing its Gloria copper property in Mexico towards production. The 4,055-acre Gloria property is situated in the northern part of Mexico’s Chihuahua state in the Sierra Madre region 60 kilometers southwest of El Paso, Texas. The project is also supported by infrastructure including an access road and an available mining workforce.

VVC Exploration is led by a management team with a wealth of mining experience and is supported by a board of directors with significant influence in both the mining and financial industries. The management and board are also notably invested in the company, with the CEO, members of management and the board of directors listed as top investors. As a whole, the company has a tight share structure with over 90 million shares held by the top 25 investors.

Company Highlights

Helium, Natural Gas & Other Industrial Gases

  • A growing portfolio of helium and NG projects with the acquisition of Plateau Helium, currently comprising 69 leases covering 16,400 acres known as the Syracuse Kansas project, 1,600 acres in the Monarch property, Stockholm project (3,000 acres), Johnson-Moore project (6,000 acres), LF project (5,000 acres) and State Line project (6,000 acres).
  • The Colorado project, located in Eastern, Colorado, comprises 23,000 acres of gas leases and leasing continuing, with a total of 26 historical wells that were previously drilled flowing gas that tested helium above 3 percent.
  • Six wells connected and producing, two ready to complete in the Syracuse KS project (as of December 2024).
  • One well drilled and completed, producing into tanks in the Stockholm KS project. Connection line to processing plant in process. Helium, natural gas and oil sales expected in January 2025, additional well sites identified (as of December 2024).
  • The initial well of the Kansas Oil project has begun producing. The company is currently in the planning phase for additional wells in the area.
  • Installed 14 miles of internal gathering system pipeline to transport helium and natural gas wells to a nearby processing facility.
  • Installed a 15-mile water disposal system.

Copper, Base & Precious Metals

  • VVC’s near-production Gloria copper property, located in Mexico, has an indicated copper resource of 59.4 million pounds and 89.33 million pounds of inferred copper.

Strategic Investments

Energy Transition & Carbon Capture

  • Strategic investment in Proton Green as part of its carbon capture venture. Proton Green’s focus project, the St. John’s Field, contains 33 billion cubic feet of helium and the ability to inject up to 22 million metric tons of CO2 per year at its primary basin
  • Helium production began August 30, 2023.
  • Food grade CO2 production is expected to begin in 2025.

Helium & Natural Gas

  • Strategic investment in the PHC South Africa project, located in the Free State, Republic of South Africa East of Welcome and South of Kroonstad 147 miles southwest of Johannesburg (152,000 acres).

Key Projects

Helium Portfolio

As of Dec 2024

Plateau Helium Corporation

In January 2021, VVC Exploration acquired Plateau Helium Corporation (PHC), a Wyoming Corporation focused on helium exploration and development, primarily in the western US. PHC’s initial target project is located in Kansas and currently comprises 69 leases covering 16,371 acres known as the Syracuse Helium Project.

Plateau Helium Corporation engaged Foreland Operating to manage the company’s helium production. Foreland Operating is a Texas-based upstream oil and gas operating company with a long-tenured team that has been operating in many of the premiere US basins including the Barnett Shale, the Marcellus Shale and the Permian Basin.

Syracuse

Syracuse is VVC’s helium project with 16,400 acres of contiguous oil and gas leases. The company has identified 16 identified well sites in the area with internal estimates of a future resource of 75 Bcf of gas. Currently, Syracuse has 22 well sites permitted or currently being permitted, each with the potential to produce over 1 billion cubic feet of gas.

In 2022, the company announced it successfully completed and connected its first helium well to the project. The well is known as the Levens #2 and was connected to Tumbleweed Midstream’s Ladder Creek Pipeline allowing the transport of gas to the Ladder Creek Helium Processing Plant in Cheyenne Wells, Colorado. The Levens #2 was successfully drilled to a depth of 2,478 feet and encountered multiple gas zones.

As of Dec 2024

Monarch Lease

VVC purchased the Monarch Lease in April 2021, bolstering VVC’s ability to capitalize on the growing demand for helium, driven by increased global usage. The Monarch Lease is a 1,720-acre property that is located in the Byerly Field in Greely County, Kansas and includes six formerly producing gas wells that are still connected to the Tumbleweed Midstream pipeline. All wells produced both methane and helium. There is additional potential in the deeper zones of this property which VVC will explore.

Stockholm Project

The Stockholm project is VVC’s top drilling priority project in Wallace Kansas in an area with significant natural gas potential. Stockholm spans 3,000 acres of permitted jurisdiction targeted for helium, natural gas and hydrogen. VVC has commenced drilling activities at the Josephine Mack 1-18 well, marking the initiation of the company’s first test well within the Stockholm project.The Josephine Mack 1-18 well is VVC’s strategic entry into this geologically promising region which evaluates the hydrocarbon potential of the Morrow Zone. The Stockholm project shows potential for oil production as well.

Copper and Associated Metals

VVC’s current copper focus project is Gloria in Northern Mexico which is a host to oxide copper mineralization with a copper resource of 59.4 million pounds, indicated (9.6 million tonnes grading 0.28 percent copper) and 89.33 million pounds, inferred (14.4 million tonnes grading 0.28 percent copper). The property spans 4,055 acres in Chihuahua State and drilling over the past two years has defined a significant copper mineralized zone over a 15-kilometer strike.

Gloria provides VVC with a unique exposure to the copper market. Approximately 100,000 tons of artisanal ore piles on site that have been high graded, hand cobbed (sorted), and can be utilized for pilot/test mining.

Located in Central Sonora Mexico is VVC’s 16,622-acre Cumeral gold/copper exploration project. Cumeral covers an epithermal style, mineralized gold/silver zone at least 3.6 kilometers long with geological structure and surface sampling suggest the potential for multi-million ounce gold deposit.

Carbon Capture

Proton Green

VVC recently made a strategic investment in Proton Green, an energy transition company poised to become one of the leading helium producers and carbon sequestration hubs in North America.

Proton Green, LLC, is a producer of helium and hydrogen and is building out its position as a large carbon sequestration operator in North America. With operating control over the St. Johns Field, a 152,000-acre property in Apache County, Arizona, Proton Green controls a helium reservoir and carbon storage basin.

Proton Green’s initial project is the St. Johns Field. The St. Johns Field is a massive helium reservoir and immense carbon storage basin located in Apache County, Arizona. Extensive third-party geological studies performed on the property indicate reserves of up to 33 billion cubic feet of helium in shallow, easily accessible reservoirs. Capable of producing one billion cubic feet of helium per year, it will be among the most prolific helium production sites in the world.

It is also projected to be among the largest carbon capture companies in North America, with 22 million metric tons of carbon sequestration per year, and a total storage capacity of over 1 billion metric tons.

Management Team

Terrence Martell – Chairman of the Board

Dr. Terrence Martell is the director of the Weissman Center for International Business at Baruch College and the Saxe Distinguished Professor of Finance where he oversees a myriad of international education programs and projects. He is also the chairperson of the University Faculty Senate and an ex-officio member of the board of trustees at The City University of New York. His area of expertise and research is international commodity markets.

He is a director of the Intercontinental Exchange (ICE) where he serves on the audit committee and has many roles. He serves on the board of the Manhattan Chamber of Commerce and is a member of their executive committee. He is also a member of the New York City District Export Council of the US Department of Commerce and a member of the Reuters/Jefferies CRB Index Oversight Committee. Dr. Martell received his BA in Economics from Iona College and his PhD in Finance from the Pennsylvania State University.

James (Jim) Culver – President, CEO and Director

Dr. James Culver has spent over 40 years in the fields of commodities, international trade and trade finance, holding posts in government, academia and the private sector. For the last 20 years, he has focused on commodity finance and commodity project finance, primarily in mining and metals and agricultural products. He spent 22 years working in New York City where he most recently managed two private commodity asset-based lending companies and developed hedge funds to support their lending activities.

Previously, Dr. Culver served as chief economist and director of the Economics and Education Division for the Commodity Futures Trading Commission. He was responsible for market surveillance and new product approvals. He also served for five years on the staff of the Committee on Agriculture of the US House of Representatives. In addition, Culver has been an active participant in a family-owned and operated business, The Parsons Group International Education Inc., a for-profit educational services company. He earned his B.Sc. at the University of Tennessee Martin and his MSc. and PhD degrees from the University of Tennessee Knoxville.

Andre St-Michel – Senior Consultant, Mexican Operations

A Canadian mining engineer and geologist residing in Chihuahua, Mexico, Andre St-Michel has over 30 years of experience in the mining business with a focus on mine development, mill operation, administration and finance. He has spent the last 10 years working in Mexico where he currently serves as President and CEO of Freyja Resources.

From 2003 to 2008, he was a senior executive of Dia Bras (now Sierra Metals), responsible for its exploration programs and the start-up of its Bolivar copper and zinc mine. From the initial start-up of the mine in 2005, production reached 450 tons per day in 2006 with annual projected revenues of approximately $27 million and cash flows of approximately $10 million. Prior to 2003, he served as president of ECU Silver Mining, developing programs and properties in the US, Brazil and Mexico. He holds a degree from the Laval University Engineering School and a Master’s degree in Project Management from University du Quebec. He is a professional engineer.

Michael Lafrance – Director and Secretary-Treasurer

Michael Lafrance has been VVC Exploration’s secretary and treasurer and geological consultant since December 2012. Since 1980, he has served in similar roles with many other publicly-traded exploration companies. He is also the corporate secretary of POET Technologies Inc. (formerly Opel Technologies), a pioneer in the field of integrated circuits. He is a graduate of the University of Ottawa.

Kevin Barnes – CFO

Kevin Barnes has served as the corporate controller and CFO of various public and private companies over the last 12 years. He also served in the role of IT manager and senior accountant with Duguay and Ringler Corporate Services, a firm which provides corporate accounting and secretarial services to publicly-traded companies. He served as the controller of Canada’s Choice Spring Water, one of Canada’s first publicly traded bottled water companies.

He currently serves as CFO of Poet Technologies, a pioneer in the field of integrated circuits and Controller of an international training institute with revenues of $100 million. Barnes received a computer operations diploma from the Careers Development Institute and has a Certified Management Accountant designation from the ICMA Australia. In 2006, he became a member of the Institute of Chartered Secretaries and Administrators of Canada.

Peter Dimmell – Director

Peter Dimmell is a geologist and prospector who has been involved in mineral exploration in Canada, the United States and overseas for 38 years. He is experienced in all aspects of the mining industry and has guided on-site operations from exploration through to production. He is a past president of the Prospectors and Developers Association of Canada (PDAC), a director and former chairman of the Newfoundland and Labrador Chamber of Mineral Resources and a councilor and member of the Geological Association of Canada. He sits on the Board of Directors of four other public companies: Arehada Mining, Linear Gold, Pele Mountain Resources and Silver Spruce Resources, for which he also serves as CEO.

Bruno Dumais – Director

Bruno Dumais is vice-president of finance, for BroadSign International, a Montreal-based provider of digital signage solutions. He possesses over 20 years of experience in financial, forecast and strategic planning and is responsible for overseeing global financial activities. Before joining BroadSign, he was the chief financial officer, vice-president of finance and a consultant at Mitec Telecom for seven years. He has also held senior level positions in companies crossing a variety of sectors, such as Gestion Exponent, Nortel Networks and Premier Tech. Dumais is a chartered professional accountant and holds both a Bachelor in Business Administration from the University of Quebec in Rimouski and an International MBA from the University of Ottawa.

Patrick Fernet – Director

Patrick Fernet is a legal, operations, and corporate governance expert with more than twelve years’ experience in Canadian small-cap public corporations. He serves as a consultant to VVC on a variety of corporate matters. He has more than 15 years of governance experience with small-cap Canadian corporations.

Scott Hill – Director

Scott Hill has served as chief financial officer of Intercontinental Exchange Inc (ICE) since May 2007. He is responsible for all aspects of ICE’s finance and accounting functions, treasury, tax, audit and controls, business development, human resources and investor relations. Hill also oversees ICE’s global clearing operations. Prior to joining ICE, Hill was assistant controller for Financial Forecasts and Measurements at IBM, where he oversaw worldwide financial performance and worked with all global business units and geographies. Hill began his career at IBM and held various accounting and financial positions in the US, Europe, and Japan, including vice-president and controller of IBM Japan, and assistant controller, financial strategy and budgets..

Leon Vijay Shivamber – Director

Leon Shivamber is a transformation leader with more than three decades of successful transformations under his belt. He learned about strategy and business integrity during his years at McKinsey & Company, change management, and rapid transformation during his New York Consulting Partners years and high-performance acquisitions during his years at Arrow Electronics. He spent five years leading the prize-winning supply chain and operations transformation at the then Harris Corporation (now L3 Harris Technologies). For three years after that role, Leon extended and applied his transformation experience as a leader and general manager building an international joint venture in the Middle East.

Thereafter, Leon spent three years as CEO leading the vibrant UAE headquartered Atlas Group with strategic businesses in communications, defense, energy, food, healthcare, hospitality, public safety, and security. He also spent two additional years advising Atlas Group and other Middle-East-based corporations on their transformation efforts. Since that time, Leon has returned to the United States and has been acting as a senior advisor to several corporate transformations. He is a fellow, Life Management Institute (FLMI), and a trustee of the board of directors of Baruch College Fund.

This post appeared first on investingnews.com

Former US President Jimmy Carter, who died Sunday at the age of 100, is remembered in China for bringing an end to decades of hostility and establishing diplomatic relations with Beijing – at the expense of Taiwan.

The diplomatic switch in 1979 led to profound changes in US-China relations in the following decades – and its implications are still being felt today, as tensions flare across the Taiwan Strait.

During the height of the Cold War, the Carter administration held months of secret negotiations with Chinese officials to normalize relations, which had been estranged since the Chinese Communist Party took power in 1949.

For decades, Washington had recognized the Republic of China in Taipei as the sole legal government of China, after the Kuomintang was defeated by the Communists in the civil war and fled from the Chinese mainland to the island of Taiwan.

A rapprochement with the People’s Republic of China began during the presidency of Richard Nixon, who made an ice-breaking visit to Beijing in 1972. But it was Carter who oversaw Washington’s formal switch of diplomatic recognition from Taipei to Beijing.

On December 15, 1978, Carter announced that at the start of 1979, the US would end its diplomatic relations with the Republic of China in Taipei and recognize the People’s Republic of China in Beijing as the sole legal government of China.

While celebrated in Beijing, the announcement came as a shock to many in Taiwan, followed by anger and a bitter sense of abandonment and betrayal – even leading to violent anti-American demonstrations in Taipei. The US also terminated its mutual defense treaty with Taiwan and pulled its military personnel from the island.

On January 1, 1979, the US and the People’s Republic of China formally established diplomatic ties, opening embassies in the two countries’ respective capitals. At the end of that month, Carter welcomed China’s paramount leader Deng Xiaoping on the South Lawn of the White House – the first visit by a Chinese Communist leader to the US.

“We expect that normalization will help to move us together toward a world of diversity and of peace,” Carter said at the welcoming ceremony. “For too long, our two peoples were cut off from one another. Now we share the prospect of a fresh flow of commerce, ideas, and people, which will benefit both our countries.”

In response, Deng praised Carter’s “farsighted decision” in playing a key role in ending the “period of unpleasantness between us for 30 years.”

Bilateral ties flourished in the following years, from trade and investment to academic and cultural exchanges. One area of engagement Carter facilitated was student exchange. During negotiations for normalizing relations, Deng raised the question of whether Chinese students would be allowed to further their studies in the US.

“When posed with that question, my adviser, Dr. Frank Press, thought it important enough to call me at 3 a.m. in Washington to be sure,” Carter wrote in a letter addressed to the Chinese Embassy in Washington and the US State Department in 2019.

“Deng asked me if China could send 5,000 students, and I answered that China could send 100,000,” Carter wrote.

Proponent for engagement and democracy

As bilateral ties worsened in recent years, some critics in the US have questioned the strategy of engagement with China.

Under Chinese leader Xi Jinping, Beijing has taken a stark authoritarian turn domestically and become increasingly assertive abroad, dashing the once widely held hope that China would move toward a more liberal political model following economic growth and its integration with the world.

Amid escalating tensions and calls for “decoupling,” Carter has remained a cool-headed voice and firm supporter of continued engagement.

On the eve of the 40th anniversary of the normalization of US-China relations, Carter warned in The Washington Post that the two nations’ critical relationship is “in jeopardy” and “a modern Cold War between our two nations is not inconceivable” if the deep mistrust continues.

“At this sensitive moment, misperceptions, miscalculations and failure to follow carefully defined rules of engagement in areas such as the Taiwan Strait and South China Sea could escalate into military conflict, creating a worldwide catastrophe,” he wrote.

After he left the presidential office, Carter remained a key figure in US-China relations. He visited China multiple times and was received by successive Chinese leaders, from Jiang Zemin – who called him “an old friend of the Chinese people” – to Xi.

In 2019, at the height of a bruising trade war with China, former US President Donald Trump sought Carter’s council in a rare phone call to discuss ongoing trade negotiations with Beijing.

But Carter’s experience with China far predated his presidency. It was his visit to the Chinese coast in 1949 as a young submarine officer in the US Navy that sowed his interest in China, according to an interview Carter gave to the Council on Foreign Relations.

As the civil war raged in China, Carter’s submarine was operating in and out of Chinese seaports, from Shanghai all the way up to Qingdao.

“And so, I got to see the transformation in China between the nationalist Chinese forces who were just occupying a few of the seaports and the communist forces whose campfires we could see on the hillsides,” he said.

A few months after Carter left China, the nationalists fled the mainland to Taiwan. “So, I saw the birth of China which, by the way, was born on my birthday, October the 1st, 1949. And I think that has precipitated my intense interest in China ever since,” he said.

In China, Carter remains a well-respected figure, despite the rocky relationship in recent years.

In reports about his death, Chinese state media outlets noted Carter’s legacy on US-China relations. On Chinese social media, many users hailed him the “good old man.”

Less mentioned by the Chinese government and state media, however, was Carter’s role in promoting religious freedom and grassroots democracy in China.

At a banquet he hosted for the Chinese delegation in 1979, Carter secured Deng’s agreement to permit unrestricted worship and the distribution of Bibles in China. (Under Xi Jinping, Christians have experienced a significant crackdown).

The Carter Center had supported and monitored village elections in rural China for more than a decade since the late 1990s. Carter himself visited a village in eastern China to monitor one such election in 2001, witnessing villagers casting their votes and greeting elected local officials on stage.

That kind of engagement is nearly unthinkable in today’s China, with the Chinese Communist Party repeatedly attacking “Western values” and viewing foreign non-profits – especially those promoting democracy, rule of law and rights advocacy – with deep suspicion.

Complicated legacy in Taiwan

In Taiwan, Carter’s legacy is more complicated.

When Carter made his first visit to Taiwan in 1999, he still faced plenty of questions – and criticism – over his abrupt announcement to break diplomatic relations with Taipei 20 years ago.

At a speech in Taipei, Carter was confronted by veteran Taiwanese opposition politician Annette Lu, who accused him of having set back the democratization process in Taiwan and demanded an apology from him to the Taiwanese people.

Carter declined to apologize, insisting that his decision had been “a right one.”

In a guest lecture at a university in Atlanta in 2018, Carter said he had “a big argument” with Deng over the status of Taiwan during negotiations in 1978.

“China always wanted us to declare that Taiwan was a province of China, and they wanted us to break our treaty with Taiwan and stop all our military assistance,” he said. “I was insisting that we should break our treaty with Taiwan only in agreement with our treaty, which required a one-year notice. I also insisted that we continue to provide defensive assistance to Taiwan and that the differences between China and Taiwan be resolved peacefully.”

Following the diplomatic switch, the US Congress passed the Taiwan Relations Act, which allows Washington to retain close unofficial ties with Taipei, facilitating commercial, cultural and other exchanges through the American Institute in Taiwan – the de facto US Embassy in Taipei.

The legislation also requires the US to “provide Taiwan with arms of a defensive character” to maintain “a sufficient self-defense capacity,” though it did not specify how the US would respond in case of a Chinese invasion of the island – which became known as a policy of “strategic ambiguity.”

As relations between China and the US plummeted in recent years, the Taiwan issue has become a key source of tension between the two countries.

This post appeared first on cnn.com

Dr. Hussam Abu Safiya has not been seen publicly since Israeli forces raided Kamal Adwan hospital on Friday. Staff members accused Israeli forces of starting a fire in the hospital and said they were all rounded up outside and forced to remove their clothes, a process that took hours, before being forced to leave.

The Israeli military said on Saturday it had detained Dr. Abu Safiya because he was “suspected of being a Hamas terrorist operative,” and claimed that the hospital was being used by Hamas as a “command and control center.” The military did not provide any evidence to support the claims.

His family had issued appeals for his whereabouts following his arrest. Former detainees of Sde Teiman, a shadowy military base in Israel’s Negev desert near the Gaza border, say the doctor and other medics from the Kamal Adwan raid are being held there.

Ahmad Al Sayyed Saleem, 18, said a doctor from the Abu Safiya family was brought into the prison on Saturday. Saleem, who is from northern Gaza and said he knew Dr. Abu Safiya, was detained 42 days ago at an Israeli checkpoint when he evacuated northern Gaza and was on his way to Gaza City.

Yahya Zaqout, who was arrested 42 days ago, said he did not see Dr. Abu Safiya but was in the cell next to his.

“I heard them calling his name between the names they call every morning and night, and we had men that were brought to our cell and told us they were detained along with Dr. Hussam,” he said.

Alaa Abu Banat, a former inmate who was detained 43 days ago on his way home, said he knows Dr. Abu Safiya and a medical team from Kamal Adwan hospital was brought into Sde Teiman.

“They are all still in detention. They treated them really badly especially the doctors,” he said.

Abu Banat said one man who shared his cell told him he is a doctor and said he was beaten “until his eye was bleeding.” The cellmate added had spoken to Dr. Abu Safiya.

“It is widely known the immense efforts he has made since the beginning of the war to support the only healthcare system for the residents of north Gaza,” the statement read.

Long siege

Dr. Abu Safiya has been one of the last doctors in northern Gaza over recent months and has documented the horror inside his hospital in the wake of a renewed Israeli offensive that began in early October in what the Israeli military said was targeting a resurgent Hamas presence there.

The two-month onslaught has razed streets to carpets of debris, killed entire families, and severely depleted food, water and medical stocks.

MedGlobal, the US-based nonprofit Dr. Abu Safiya was lead physician in Gaza for, expressed concern for the doctor and condemned the latest Friday raid on the hospital, which it described as a “lifeline” for northern Gaza.

Dr. Zaher Sahloul, president and co-founder of MedGlobal and a close colleague of Dr. Abu Safiya, said on Sunday: “Dr. Abu Safiya has dedicated his life to protecting the health and lives of children in Gaza, providing care under conditions no medical professional should have to endure. His arrest is not only unjust – it is a violation of international humanitarian law, which upholds the protection of medical personnel in conflict zones. We urgently call for the immediate and unconditional release of Dr. Abu Safiya.”

Kamal Adwan hospital has now ceased to operate.

“All patients and medical staff have evacuated from the area,” of Kamal Adwan hospital, the Israeli military has said. Patients were forced to move to the nearby Indonesian Hospital, the staff said, a facility the WHO has described as “destroyed and nonfunctional.”

Some staff members arrived in other parts of Gaza. Among them is Dr. Hani Badran, a cardiologist who lost 17 members of his family in an Israeli strike in November, including a newborn niece who he had delivered just weeks earlier.

This post appeared first on cnn.com

One of the original stereotypes about robots is that their movements are stiff and abrupt, something that endures in the “robot dance” that first became popular in the 1980s.

Robots have since evolved and now exhibit far more human-like qualities, with movements that have become softer and subtler. However, that has been true mostly for humanoid robots, which are a tiny minority compared to the industrial robots that have helped manufacture our goods — such as cars — for decades.

Around 3 million robots work in factories around the world, with about a third of those in the automotive industry, according to an industry body. Now, a company called Micropsi Industries is looking to make even industrial robots closer to humans. “We make a control system that allows industrial robots to do things that without our software they couldn’t do,” says Ronnie Vuine, Micropsi’s founder, “which is essentially having hand-eye coordination and adapting to changing conditions in the environment as they do their work in a factory.”

The company’s first product, called MIRAI, uses artificial intelligence (AI) and cameras to train robots to perform tasks that would be impossible via traditional, pre-programmed movements.

Vuine became interested in AI while a student at Berlin’s Humboldt University in the 2000s. “There was a working group that was interested in how machines learn in the real world when there’s no engineer around to tell them what to do, but they just need to sort out and find out what to do to survive. How would you do that? So that’s been our research interest.”

Vuine says that AI was distinctly unfashionable at the time, but when Google purchased AI company Deep Mind in 2014, it showed the team how AI had become more mainstream and was the motivation they needed to push forward. Micropsi was founded in the same year.

The company is now developing its products for various brands of manufacturing robots. “By far the most advanced industry when it comes to deploying robots at scale is automotive,” Vuine says. “Cars are the most complex artifact we make at scale as humans. We also make planes, and they’re more complex, but we don’t make as many of them. Cars are just the most advanced automation game we play.”

This opens up options for automation to carry out tasks previously handled by humans, which could prove especially useful in producing electric cars. “Automotive is moving to electric. There’s much more cables to be plugged in,” says Vuine. “Of course, it’s terribly important in electronics, where you have ribbon cables (to connect to circuit boards). All of these applications couldn’t be done with robots (previously). You would have to use a human, or you couldn’t do it at all, and would need to redesign your product for manufacturability.”

Having recently moved its headquarters from Berlin to San Francisco, the company is now looking to expand from cars to other products, like power tools and white goods, as well as other fields altogether, like logistics. In the future, the system could power humanoid robots, too. “The software that drives the robot would be very much applicable outside a factory, in a service robot that does your dishes,” Vuine says. “In fact, we sometimes do playful demos that show these capabilities.”

The hurdle to that expansion is not the software, he adds, but robots themselves. “Robots are not made of soft material like humans. They’re made of metal, so it really hurts if they hit you. You need to go very slowly, and you need to put lots of safety around and lo and behold, you’ve created a machine that’s too expensive and too cumbersome to actually live in your home. We just haven’t solved that yet.”

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Elections may not be held in Syria for up to four years, the country’s de facto leader has said, in his first comments on an electoral timeline since his rebel group overthrew the Assad regime earlier this month.

After Ahmad al-Sharaa’s comments, it remains unclear how the interim government will hand over power after previously saying it would only stay until March 2025.

“We have to prepare the infrastructure before heading to elections,” al-Sharaa, formerly known as Abu Mohammad al-Jolani, said, the Saudi channel Al Arabiya reported Sunday.

Al-Sharaa, who leads the Islamist group Hayat Tahrir Al-Sham (HTS), which earlier in December toppled longtime ruler Bashar al-Assad, said in an interview that his interim government also plans to write a new constitution that might take up to three years to draft.

“We are now in the re-foundation of the country and not just managing the country… there is a lot of destruction in the country because of a regime that ruled for more than 50 years,” Al-Sharaa said.

“The opportunity that was given to us today doesn’t present itself every four or five years… the constitution must regulate society so that the previous experience does not repeat itself and Syria heads to the same direction it was in for the past 60 years,” he added.

Al-Sharaa also told Al Arabiya that HTS will eventually be dissolved, the channel said, which will be announced at the upcoming National Dialogue Conference, a meeting that is meant to help with the transitional phase. No date is set yet for the conference.

On Russia, a previous ally of Syria, Al-Sharaa said the new leadership does not want Russia to leave the country “in [a] manner that does not fit its relations with Syria.”

Sources say Russia has been withdrawing a large amount of military equipment and troops since Assad’s toppling.

International legitimacy

A Ukrainian delegation led by foreign minister Andrii Sybiha‎ landed in Damascus on Monday to meet Al-Sharaa, Syrian state media said.

“The Syrian and Ukrainian people have shared the same experiences and struggles,” Syria’s interim foreign minister Asaad Shaibani said in a news conference with Sybiha.

The visit marks the latest in a series of regional and international diplomatic delegations who travelled to Syria to meet the de-facto leader, who, until recently, had a $10 million bounty on his head by the United States.

Al-Sharaa was informed by a high-level US delegation led by the Assistant Secretary of State for Near Eastern affairs, Barbara Leaf, on December 20 that the US would remove the bounty.

Leaf, one of three US officials who sat down with Al-Sharaa in Damascus, described the “policy decision” as one aligned with the need to work on “critical issues” such as combating terrorism.

Al-Sharaa “committed to this,” Leaf said, “and so based on our discussion, I told him we would not be pursuing the Rewards for Justice reward offer that has been in effect for some years.”

European delegations, including officials from the United Kingdom, France and Germany also met Al-Sharaa over the past month, while Qatar, Jordan, Iraq, Bahrain and Turkey all dispatched diplomats for talks with the new leader.

The former jihadist is seeking international legitimacy and distancing himself from his Al-Qaeda past. His style has gradually changed from Jihadist camo attires to statesmen-like suits as he engages in international diplomacy.

Al-Sharaa is also warming up to regional powerhouse Saudi Arabia, telling Arabiya that the kingdom has a big role to play in Syria’s future and that Iran should “rethink its calculations about its interventions in the region.”

“We are folding the old page of boycotts that [Syria] was under with the old regime,” Shaibani said.

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For America’s friends in Asia, the uncertainty brought by the impending return of Donald Trump to the White House is coming at a bad time.

China has been modernizing its military and nuclear arsenal while becoming increasingly aggressive in asserting territorial claims in the South China Sea and over Taiwan. North Korea has ramped up its belligerent rhetoric and calls to develop its illegal nuclear program. Both countries have expanded their alignment with Russia as it wages war on Ukraine, linking Asia to the shattered peace in Europe.

For decades, the US has backed the security of its allies in the region, which has more overseas active-duty American troops than anywhere else in the world. Tens of thousands of soldiers are stationed on sprawling bases in treaty allies South Korea and Japan, countries that, like the Philippines and Australia, the US is bound to aid if they come under attack.

Those countries are now preparing for the return of an American leader who has railed against what he sees as free-riding US allies who don’t pay enough for defense, sidled up to autocrats, and called for an “America first” approach to global obligations.

Many questions about Trump are on the minds of US-aligned leaders in Asia, observers across the region say.

Will Trump ask for more defense spending than allies can afford? Could he take an extreme step to withdraw US forces if any such demands aren’t met? Will the businessman-turned-leader cut deals with Chinese leader Xi Jinping, North Korea’s Kim Jong Un or Russia’s Vladimir Putin that undermine the interests of US allies?

Alternatively, could he perhaps strengthen US alliances and be a tougher opponent for America’s enemies?

In the shadow of this uncertainty, leaders across the region have been scrambling to forge strong ties with the notoriously mercurial incoming US commander-in-chief, who’s known to link foreign policy to personal rapport.

Many are warily eyeing President-elect Trump’s threat to ringfence the world’s largest economy with 10% tariffs on all imports and upwards of 60% tariffs on goods from China, moves that could have significant economic knock-on effects across Asia.

But as Trump’s January inauguration draws closer, governments across Asia are also facing potentially more existential questions about how Trump will manage US security relationships with friends and rivals – and stand by its allies if tested.

‘Indispensable power?’

After World War II, a network of US alliances was established across the world to serve as a powerful deterrent against another global war. A major aim was to prevent more countries from becoming nuclear powers by placing them under the umbrella of the US arsenal.

In the eyes of many in Washington and across Asia, those alliances in Asia-Pacific have only become more critical as relationships in the region become more contentious.

China has expanded its security ties with NATO-adversary Russia and been accused of enabling Moscow’s war by buying up Russian exports and providing the dual-use goods needed for its defense base. Beijing has also ramped up its intimidation of Taiwan, the self-ruling democracy it claims and has vowed to take control of, by force if necessary.

In the South China Sea, the China Coast Guard has in recent months attacked Philippine ships with water cannons and even axes, despite a major international ruling years ago denying its claim to the bulk of the strategically critical waterway.

North Korea, meanwhile, has ramped up its threats toward South Korea and the US as it carries out illegal weapons testing. It’s also aiding Russia’s war with ammunition, missiles, and – in a major, recent escalation – soldiers, US officials say.

But as Trump steps onto a more fraught and complex global stage than at the start of his first term eight years ago, observers in Asia say his focus appears to be on ratcheting up economic pressure on China rather than regional security.

Trump’s “priority is overwhelmingly on the economic relationship and on the United States not losing to China economically,” but there’s little sign “that he is deeply interested in the military or strategic balance in East Asia,” said Sam Roggeveen, director of the Lowy Institute’s International Security Program in Sydney.

“Everything points in the opposite direction,” Roggeveen said. “He’s interested in – sure – having a strong military and defending the United States … but not in this idea of America as an indispensable power which has a unique global security role.”

The incoming leader and his strategists have instead repeatedly questioned whether the US was getting enough out of its alliances and whether American lives should be lost and dollars spent fighting foreign wars.

Trump shocked European leaders earlier this year by saying he would encourage Russia to do “whatever the hell they want” to any NATO member country that doesn’t meet the US-led alliance’s defense spending guidelines.

Preparing for Trump 2.0

Weeks before election day, Trump turned that spotlight toward Asia, claiming during an interview with Bloomberg News that were he president, South Korea would pay $10 billion a year to host US troops — about eight times more than Seoul and Washington recently agreed on.

South Korea already spends well over 2% of its gross domestic product on defense, considered by the US to be a benchmark for its allies. Over the past decade, the country has also paid 90% of the cost for expanding Camp Humphreys, the US’ largest overseas base.

But Trump’s comments have sparked fears in Seoul that he could seek to renegotiate cost-sharing for US troops, despite a five-year agreement reached earlier this year that will raise Seoul’s spending to 8.3% more in 2026 than the previous year. A failed renegotiation – in a worst case posed by some observers – could result in a Trump decision to downsize or withdraw US forces meant to counter the threat from its belligerent northern neighbor.

Such a scenario, or broader feelings that US commitment is waning, could also push Seoul toward developing its own nuclear arsenal – a potential first step on a slippery slope that could lead more middle powers to proliferate such weapons, experts say.

But dealings with Trump have become a lot more complicated for South Korea. Lawmakers there voted to impeach President Yoon Suk Yeol earlier this month after his shock declaration of martial law, and then weeks later voted to impeach acting president Han Duck-soo. The country now faces months of political uncertainty at a time when observers have said building a strong leader-to-leader relationship is key.

“The biggest challenge is whether Seoul and Washington will be able to communicate properly,” said Duyeon Kim, a Seoul-based adjunct senior fellow at the Center for a New American Security.

Such communication is key to “avert devastating consequences and surprises in the US-South Korea alliance that we currently assume would happen based on Trump’s harsh rhetoric against allies,” she added.

In Japan, pundits have lamented the perceived deficiencies of Prime Minister Shigeru Ishiba compared with the late Shinzo Abe, known as Asia’s “Trump whisperer” for his finesse in getting close to the president-elect during his first term.

The key American ally in Asia is likely to stress its own sweeping changes to its defense posture since Trump was last in power.

Tokyo has veered away from the pacifist constitution imposed by the US in the aftermath of World War II, in 2022 moving to boost defense spending to about 2% of its GDP by 2027 and buy up American cruise missiles.

Countries throughout the region are also watching whether the Trump administration picks up the mantle of a key piece of Biden’s legacy: efforts to build across Asia what State Department officials have called a “lattice work” of interwoven US partnerships, part of the administration’s “invest, align, compete” strategy to counter Beijing.

Biden bolstered the Quad (India, Japan, Australia and the US) security group and founded the AUKUS (Australia, United Kingdom and the US) partnership that aims to equip Canberra with nuclear-powered submarines. He also brokered significant increases in Japan’s security coordination with South Korea, the Philippines and Australia.

Trump – as an unpredictable force in the White House – could drop, maintain or even deepen these relationships. But in the meantime, America’s Asian allies will look to hedge against any decline in US support.

“The United States is now not the constant of international affairs, but rather the variable,” said Murata Koji, a professor of political science at Japan’s Doshisha University.

“That’s why we have to expand our security (outside) the United States,” he said, pointing also to Tokyo’s need to deepen its partnership with Europe over shared concerns.

China watching closely

That said, experts across the region broadly feel it’s unlikely there will be seismic changes in the US security presence under Trump, in terms of drawing down troops or tearing up alliance agreements, especially given American focus on the challenge posed by China.

“Geopolitical realities and circumstances will oblige him to try to maintain forces in the region. The scenario that I’m thinking of is more of renegotiating, more than outright withdrawal,” said Collin Koh, a senior fellow at the S. Rajaratnam School of International Studies in Singapore.

And countries will not just be considering potential downsides to Trump’s return, Koh added, pointing to perceptions in Asia that Biden has hesitated in some of his decisions on Ukraine, complicating the situation for the besieged country.

“With Trump coming in, there could be some renewed hope that (he) will not be like Biden in terms of crisis – maybe Trump will be more decisive,” he said.

There are concerns, however, that an expected aggressive economic policy toward China could lead to a further breakdown in communication between the US and Chinese militaries, raising the risk of confrontation between the two. And if US allies are hurt by new American tariffs, they may have no choice but to rely more on the world’s second-largest economy.

On the other hand, Trump also signaled some interest in working with China, implying in recent comments to CNBC that he saw at least certain aspects of his post-pandemic policy on China as “a step too far.”

Then there is the question of how Trump deals with Taiwan – a potential flashpoint long seen as among the most likely triggers for a US-China conflict.

An ‘insurance company’

Biden repeatedly broke with purposeful American ambiguity to say that the US would defend Taiwan if China invaded the island. He also approved funding for the first-ever military aid to the island as Beijing ramped up its military pressure.

In contrast, the president-elect earlier this year appeared to undercut US relations with Taipei, claiming in a Bloomberg interview that Washington was “no different than an insurance company” for the island and said Taiwan should pay the US for defense. In October, he told the Wall Street Journal he would impose 150% to 200% tariffs if China went “into Taiwan.”

But how the Trump administration would react in the event of a contingency remains unknown. Trump’s choice for secretary of state, Sen. Marco Rubio, is a staunch advocate for the island, and his vice presidential pick JD Vance has argued that the US supplying Ukraine with air defense systems could hurt its ability to aid Taiwan’s defense if China were to attack.

That argument, however, has observers in Asia concerned.

Many in the region believe how Trump handles the war in Ukraine will send a critical message to Russia’s partners like China, Iran and North Korea – a set of nations some in Washington fear could harden into a dangerous axis. Those concerns may be particularly acute when it comes to China, which has likely been watching closely as it looks to its own intentions in Taiwan.

Trump has suggested he would end the Ukraine war “in 24 hours” and called for an “immediate ceasefire and negotiations” – a position that jives with Beijing’s stated stance on the war, which the US and its allies have criticized as being beneficial to Russia.

“I know Vladimir well. This is his time to act. China can help. The World is waiting!” Trump said in a post on his social media platform Truth Social earlier this month.

And what that rhetoric means in practice could have significant ramifications for Asia.

“If Russia is allowed to walk away with looking like it’s got a win from this … that then cements this relationship (between Russia and China),” said Robert Ward, director of geo-economics and strategy at the International Institute for Strategic Studies in the UK.

“And Xi Jinping will be watching this very closely, watching – how credible is Western deterrence? How credible is NATO? How willing is the West to actually put skin in the game in a conflict – and that of course relates back to Taiwan.”

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Stock futures are trading slightly lower Monday morning as investors gear up for the final month of 2024. S&P 500 futures slipped 0.18%, alongside declines in Dow Jones Industrial Average futures and Nasdaq 100 futures, which dropped 0.13% and 0.17%, respectively. The market’s focus is shifting to upcoming economic data, particularly reports on manufacturing and construction spending, ahead of this week’s key labor data releases.

November was a standout month for equities, with the S&P 500 futures rallying to reflect the index’s best monthly performance of the year. Both the S&P 500 and Dow Jones Industrial Average achieved all-time highs during Friday’s shortened trading session, with the Dow briefly surpassing 45,000. Small-cap stocks also saw robust gains, with the Russell 2000 index surging over 10% in November, buoyed by optimism around potential tax cuts.

As trading kicks off in December, investors are keeping a close eye on geopolitical developments in Europe, where France’s CAC 40 index dropped 0.77% amid political concerns, while Germany’s DAX and the U.K.’s FTSE 100 showed smaller declines.

S&P 500 futures will likely continue to act as a key barometer for market sentiment, particularly as traders assess the impact of upcoming economic data and global market developments.

S&P 500 Index Chart Analysis

This 15-minute chart of the S&P 500 Index shows a recent trend where the index attempted to break above the resistance level near 6,044.17 but retraced slightly to close at 6,032.39, reflecting a minor decline of 0.03% in the session. The candlestick pattern indicates some indecisiveness after a steady upward momentum seen earlier in the day.

On the RSI (Relative Strength Index) indicator, the value sits at 62.07, having declined from the overbought zone above 70 earlier. This suggests that the bullish momentum might be cooling off, and traders could anticipate a short-term consolidation or slight pullback. However, with RSI above 50, the overall trend remains positive, favoring buyers.

The index’s recent low of 5,944.36 marks a key support level, while the high at 6,044.17 could act as resistance. If the price sustains above the 6,020 level and RSI stabilizes without breaking below 50, the index could attempt another rally. Conversely, a drop below 6,020 could indicate a bearish shift.

In conclusion, the index displays potential for continued gains, but traders should watch RSI levels and price action near the support and resistance zones for confirmation.

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Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.

Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.

This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.

However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.

S&P 500 Index Chart Analysis

Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:

The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.

Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.

The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.

In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.

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