WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street closed mostly flat on Monday after blockbuster jobs data last week reinforced expectations the Federal Reserve will crack down on inflation, while a revenue warning from chipmaker Nvidia reminded investors of a slowing U.S. economy.
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Plan A: Remain long as long as market trades above 32715. Targets are 33008 and 33203.
Plan B: Consider short if market stays below 32715. Targets are 32422 and 32227.
E-Mini S&P 500
Stocks struggled to hold their ground on Monday, following the S&P 500′s third straight weekly gain, as demand concerns for the semiconductor industry weighed on tech names.
The S&P 500 slipped 0.12% to 4,140.06.
Treasury yields slipped in quiet trading Monday, as investors await Wednesday’s report of the July consumer price index.
The CPI is expected to have risen by 8.7% in July, according to Dow Jones, a slight cooldown from June’s 9.1% surge.
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Plan A: Short if market failed to support above 4135. Targets are 4129 and 4117.
Plan B : Long only if market supported firm above 4135. Targets are 4145 and 4163.
E-Mini Nasdaq
Nvidia announced weaker-than-expected revenue for the second quarter, putting pressure on semiconductor stocks. Shares of the chip giant fell more than 6%, and rival stocks like AMD and Broadcom were also under pressure.
The Nasdaq Composite ticked down 0.10% to 12,644.46.
Consumers inflation expectations over the next several years fell sharply in July amid a big drop in gas prices and expected declines for food and housing.
The New York Fed’s Survey of Consumer Expectations shows respondents still expect price increases to be considerable over the next one-, three- and five-year increments. But they fell to 6.2% over the next year and 3.2% over the next three years, respective monthly declines of 0.6 percentage points and 0.4 percentage points. The five-year outlook declined to 2.3%.
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Plan A: Long if market supported firm above 13170. Targets are 13209 and 13233.
Plan B : Short if market failed to support above 13170. Targets are 13142 and 13117.
HSI
The Hong Kong Hang Seng Index opened lower and could not recover, finishing off 0.8% as traders mulled pandemic in mainland China and ongoing geopolitical tensions regarding Taiwan.
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Plan A: Remain short if the market stays below 20156. Targets are 19844 and 19688.
Plan B: Consider long only if the market stays above 20156. Targets are 20313 and 20469.
WTI Crude
Oil prices rose nearly 2% on Monday in volatile trading, bouncing off multi-month lows touched last week, as positive economic data from China and the United States fed hopes for demand despite nagging fears of a recession.
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Plan A: Remain long as long as oil price stays above 87.50. Targets are 90.63 and 92.19.
Plan B: Consider short only if oil price stays below 92.19. Targets are 87.50 and 85.94.
Gold
Gold pushed back above the US$1,800 mark for just the second time in five weeks on Monday despite higher bond yields as the US dollar moved lower.
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Plan A: Remain long as long as gold price stays above 1789.1. Targets are 1804.7 and 1812.5.
Plan B: Attempts short only if gold price stays below 1789.1. Targets are 1781.3 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.
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