26 Aug 2022 Foreign

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

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E-Mini Dow

Upbeat economic data in Germany and gains in U.S. mega-cap growth stocks helped lift an index of global stock markets on Thursday, while U.S. Treasury yields slipped as investors waited for the Federal Reserve's Jackson Hole meeting for insights into the central bank's plans to combat inflation.

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Plan A: Remain long as long as market trades above 32910. Targets are 33301 and 33496.

Plan B: Consider short if market stays below 33008. Targets are 32813 and 32715.

E-Mini S&P 500

The Dow Jones Industrial Average jumped Thursday, extending a two-day rally ahead of Federal Reserve Chair Jerome Powell's Jackson Hole speech.

S&P 500 jumped 1.41% to 4,199.12.

Traders will be listening for more information out of the Jackson Hole economic symposium, with Fed Chair Jerome Powell scheduled to speak Friday. Investors are looking for clues on whether policymakers will cut rates when the current hiking cycle is over.

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Plan A : Short if market failed to support above 4193. Targets are 4182 and 4170.

Plan B : Long if market supported above 4193. Targets are 4210 and 4223.

E-Mini Nasdaq

The Dow Jones Industrial Average jumped Thursday, extending a two-day rally ahead of Federal Reserve Chair Jerome Powell’s Jackson Hole speech.

Nasdaq Composite advanced 1.67% to 12,639.27.

Jobless claims drifted lower in the week ending Aug. 20, according to the Labor Department. A revision for second-quarter gross domestic product showed a smaller decline compared to an earlier reading.

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Plan A : Short if market failed to support above 13113. Targets are 13082 and 13058.

Plan B : Long if market supported firm above 13113. Targets are 13142 and 13179.

HSI

The Hong Kong Hang Seng closed 3.6% higher after Beijing announced additional economic stimulus measures, including 300 billion renminbi ($43.8 billion) in support for policy banks to fund infrastructure projects. Tech issues soared and property shares moved ahead also.

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Plan A: Remain long if the market stays above 19688. Targets are 20156 and 20313.

Plan B: Consider short only if the market stays below 19531. Targets are 19375 and 19219.

WTI Crude

Oil prices slumped by about $2 a barrel on Thursday in volatile trade as investors braced for the possible return to global markets of sanctioned Iranian oil exports and on worries that rising U.S. interest rates would weaken fuel demand.

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Plan A: Remain short as long as oil price stays below 95.31. Targets are 92.19 and 90.63.

Plan B: Consider long only if oil price stays above 90.63. Targets are 93.75 and 95.31.

Gold

Gold rose on Thursday as the dollar slipped from recent highs, while investors awaited the Jackson Hole symposium for cues on the Federal Reserve's monetary policy.

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Plan A: Remain long as long as gold price stays above 1757.8 Targets are 1773.4 and 1781.3.

Plan B: Attempts short only if gold price stays below 1753.9. Targets are 1750 and 1746.1.

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.