2 Nov 2022 Foreign

 

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

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E-Mini Dow

U.S. stocks closed lower for a second straight session on Tuesday after data indicating that the labor market remained on solid ground dimmed hopes the Federal Reserve might have enough reason to begin reducing the size of its interest rate hikes.

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Plan A: Remain short as long as market trades below 32813. Targets are 32422 and 32227.

Plan B: Consider long if market stays above 32422. Targets are 32813 and 33008.

E-Mini S&P 500

Stock futures were higher on Wednesday morning as investors brace for the Federal Reserve’s latest policy decision at the conclusion of its meeting.

Investors are awaiting a key policy decision from the Fed, which is widely expected to announce it will raise interest rates by three-quarters of a point, its fourth hike in a row of that size, in its ongoing effort to fight high inflation. Market participants, however, are looking for a signal that the central bank is prepared to slow the pace of its rate-hiking plan come December.

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Plan A : Long if market supported firm above 3861. Targets are 3879 and 3888.

Plan B : Short if market failed to support above 3861. Targets are 3854 and 3841.

E-Mini Nasdaq

In regular trading, the major stock averages ended the day lower after job openings in September showed a resilient labor market. The Dow fell about 79 points, or 0.2%. The S&P 500 lost 0.41%, and the Nasdaq Composite dropped 0.89%.

Stock futures were flat on Tuesday night as investors looked ahead to another Federal Reserve at the conclusion of its two-day policy meeting Wednesday.

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Plan A : Long if market retraced but supported firm above 11322. Targets are 11359 and 11382.

Plan B : Short only if market failed to support above 11322. Targets are 11295 and 11261.

HSI

The Hang Seng surged 768.25 points or 5.23% to finish at 15,455.27 on Tuesday, up for the first session in three and moving further away from its lowest since April 2009, buoyed by speculation that policymakers in China are preparing to gradually exit from strict COVID zero policy to spur a recovery in the economy.

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Plan A: Remain long if the market stays above 15156. Targets are 15625 and 15938.

Plan B: Consider short only if the market stays below 15156. Targets are 15000 and 14688.

WTI Crude

Oil prices rose on Tuesday, recouping losses from the previous session, on optimism that China, the world's second-largest oil consumer, could reopen from strict COVID curbs.

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Plan A: Remain long as long as oil price stays above 87.11. Targets are 89.06 and 89.84.

Plan B: Consider short only if oil price stays below 87.50. Targets are 86.72 and 85.55.

Gold

Gold rose over 1% on Tuesday as the U.S. dollar and bond yields slipped from session highs, with the focus turning to a key Federal Reserve announcement for cues on whether it would scale back or retain its aggressive stance on interest rates hikes.

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Plan A: Remain long as long as gold price stays above 1640.6. Targets are 1660.2 and 1668.

Plan B: Attempts short only if gold price stays below 1644.5. Targets are 1640.6 and 1632.8.

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.