To The Moon

Supply Chain is well said to be the blood of the economy. To bring goods and services to the customers, this has to go through some supply chain services. For this to be appreciated, let us look at the import, export and balance of trade (export less import) for the USA. For June 2023, exports total $247.483B For June 2023, total import is $312.98B thus, the balance of trade for the month ending June 2023 stands at -$65.497B (negative). This implies that the value of imports is more than the value of exports. For Aug 2023, the PMI are 51.00, 47.00 and 50.40 for services, manufacturing and composite respectively. Composite PMI refers to the combination of both services and manufacturing PMI. This implies that the manufacturing sector is contracting whereas the services sector expands. ‌

On Tue, 29 Aug - it was (a) JOLTs and (b) CB Consumer’s confidence report that gave US market the much-needed boost to trend higher. On Wed, 30 Aug - it was (c) ADP employment data and (d) US Q2 GDP 2nd estimates that continued the good work. By the time trading drew to a close: DJIA: +0.11% (+37.57 to 34,890.24). S&P 500: +0.38% (+17.24 to 4,514.87). Nasdaq: +0.54% (+75.55 to 14,019.31). Managed to crawl back to the 14,000 level. On Tuesday & Wednesday, stocks jumped after official data was released in the mornings. The ADP National Employment reported private payrolls rose by 177,000 jobs in Aug 2023 (see above). Versus 195,000 jobs estimates forecasted by Economist polled by Reuters. More importantly, it is a drastic fall of -194,000 job openings or -52.29% from July’s 371,000

Over the last two weeks, Chinese stocks such as Pinduoduo, Alibaba, Li Auto, and XPeng have demonstrated significant upward momentum. Now, let's examine the technical analysis of their respective charts. $Pinduoduo Inc.(PDD)$ PDD Weekly Chart Pinduoduo's stock is on the cusp of breaking through a notably resilient resistance level spanning 98-110, which has taken shape over the past few years. Historical data shows that previous breakout from this level led to all-time highs. Nonetheless, breaching this resistance demands a considerable effort, suggesting it might be prudent to adopt a bullish stance only after this hurdle is surmounted. $Alibaba(BABA)$ BABA Weekly Chart Over the course of a year, Alibaba'