WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street's main indexes gained on Tuesday, shaking off an unconfirmed report of Russian missiles crossing into Poland that sparked volatility, as investors seized on softer-than-expected inflation data that raised hopes of a pullback in rate hikes by the U.S. Federal Reserve.
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Plan A: Remain short as long as market trades below 33789. Targets are 33984 and 33203.
Plan B: Consider long if market stays above 33789. Targets are 33984 and 34180.
E-Mini S&P 500
Stocks resumed their inflation-driven rally on Tuesday after another report signaled that price increases could be slowing.
The S&P 500 advanced 0.87% to 3,991.73.
Stocks have staged a solid run following last week’s better-than-feared consumer price index report. The S&P 500 last week posted its best weekly stretch since June and all the major averages are on track to finish the month with gains.
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Plan A: Long only if market supported firm above 3980. Targets are 4005 and 4021.
Plan B: Short if market rebounded but failed to support above 3980. Targets are 3973 and 3961.
E-Mini Nasdaq
The major averages rallied after the producer price index, a measure of wholesale inflation, showed a 0.2% increase for the month of October, versus the consensus estimate for a 0.4% increase from Dow Jones. The report comes after last week’s consumer price index data showed signs of inflationary pressure abating last month, sparking a sharp rally.
The peak-inflation narrative is gaining traction, but the bar for a Fed pivot is still high, said Ross Mayfield, investment strategy analyst at Baird.
The Federal Reserve reported earlier Tuesday that household debt is soaring at its fastest pace in 15 years, as credit card balances rose more than 15% from a year ago.
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Plan A: Long if market supported firm above 11701. Targets are 11735 and 11764.
Plan B: Short if market rebounded but failed to support above 11701. Targets are 11672 and 11649.
HSI
The Hang Seng surged 723.41 points or 4.11% to close at near two-month peaks of 18,343,12 on Tuesday, gaining for the third session, encouraged by an easing in Sino-US tension after Monday's meeting between President Xi Jinping and Joe Biden ahead of G-20 Summit in Bali, Indonesia.
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Plan A: Remain long if the market stays above 17500. Targets are 18438 and 18750.
Plan B: Consider short only if the market stays below 17500. Targets are 17188 and 16875.
WTI Crude
Oil prices rose on Tuesday along with major stock indexes, after U.S. data signaled that inflation could be starting to subside, which would be a positive for oil demand.
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Plan A: Remain long as long as oil price stays above 85.94. Targets are 89.06 and 90.63.
Plan B: Consider short only if oil price stays below 85.94. Targets are 84.38 and 82.81.
Gold
Gold prices edged up near their highest in three months reached earlier on Tuesday on some safe-haven buying after news that two people were killed in eastern Poland near the Ukraine border.
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Plan A: Remain long as long as gold price stays above 1750. Targets are 1781.3 and 1796.9.
Plan B: Attempts short only if gold price stays below 1750. Targets are 1734.4 and 1718.8.
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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