10 Aug 2022 Foreign

 WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

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E-Mini Dow

US equity benchmarks closed lower Tuesday, with technology stocks under pressure after Micron Technology flagged macroeconomic and supply headwinds, while government bond yields rose ahead of July inflation data due out Wednesday.

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Plan A: Remain short as long as market trades below 32910. Targets are 32715 and 32520.

Plan B: Consider long if market stays above 32617. Targets are 32813 and 33008.

E-Mini S&P 500

Stocks fell on Tuesday as investors navigated a batch of disappointing company reports ahead of a key inflation reading.

The S&P 500 fell 0.42% to 4,122.47.

Investors are awaiting the latest reading of the July consumer price index, due Wednesday. The report is expected to show a slight slowdown in inflation, thanks in part to a fall in oil prices, which could inform the market about the next steps for the Federal Reserve.

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Plan A: Short if market failed to support above 4118. Targets are 4107 and 4093.

Plan B : Long only if market supported firm above 4118. Targets are 4129 and 4135.

E-Mini Nasdaq

The July consumer price index is released Wednesday morning at 8:30 a.m. ET, and markets are looking for proof that inflation may have peaked.

Nasdaq Composite dropped 1.19% to 12,493.93.

The fed funds futures has been pricing in high odds of another three-quarter point, or 75 basis point hike, for September. Some economists, however, expect the hike to be a half point.

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Plan A: Long if market supported firm above 12985. Targets are 13019 and 13046.

Plan B : Short if market failed to support above 12985. Targets are 12951 and 12928.

HSI

The Hong Kong Hang Seng Index opened evenly but see-sawed to finish in the red, down 0.2%, as traders again eschewed tech issues. Geopolitical tensions over Taiwan and ongoing anti-pandemic lockdowns in China also undercut market sentiments.

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Plan A: Remain short if the market stays below 20078. Targets are 19844 and 19688.

Plan B: Consider long only if the market stays above 20156. Targets are 20234 and 20313.

WTI Crude

Oil prices settled slightly lower on Tuesday after a see-saw session as worries that a slowing economy could cut demand vied with news that some oil exports had been suspended on the Russia-to-Europe Druzhba pipeline that transits Ukraine.

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Plan A: Remain short as long as oil price stays below 92.19. Targets are 89.06 and 87.50.

Plan B: Consider long only if oil price stays above 89.06. Targets are 90.63 and 92.19.

Gold

Gold held firm above the US$1,800 mark on Tuesday as the dollar eased ahead of fresh US inflation data coming on Wednesday.

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Plan A: Remain long as long as gold price stays above 1796.9. Targets are 1816.4 and 1820.3.

Plan B: Attempts short only if gold price stays below 1793. Targets are 1789.1 and 1773.4.

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.