WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The major U.S. equity averages bounced around through an uncertain session on Friday, continuing a meandering performance that has marked the last several days. The Dow and S&P 500 recorded mild gains, while the Nasdaq managed to scramble into positive territory in the final moments of trading.
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Plan A: Remain long as long as market trades above 33594. Targets are 33789 and 33984.
Plan B: Consider short if market stays below 33594. Targets are 33301 and 33008.
E-Mini S&P 500
S&P 500 futures fell early on Monday ahead of another batch of retail earnings to kick off a shortened week for the Thanksgiving holiday.
Futures tied to the broad market index were lower by 0.35%. Dow Jones Industrial Average futures were lower by 84 points, or 0.25%. Nasdaq 100 futures were 0.33% lower.
Investors have been reflecting on the strength of the recent bear market rally, which kicked off earlier in the month with the October consumer price index reading and gained some steam with last week’s reading on wholesale prices. Traders last week were hung up on messaging from Federal Reserve officials, who were less impressed with the figures and reassessed their optimism around the possibility of slowing inflation.
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Plan A: Long if market retraced but supported firm above 3895. Targets are 3912 and 3933.
Plan B : Short only if market failed to support above 3895. Targets are 3875 and 3859.
E-Mini Nasdaq
The major averages ticked higher in afternoon trading Friday to end the day on an upbeat note as investors assessed tougher language from Federal Reserve speakers and pored over the latest earnings reports.
The Dow Jones Industrial Average rose 199.37 points, or 0.59%, to 33,745.69, while the S&P 500 climbed 0.48% to 3,965.34. The Nasdaq Composite finished just 0.01% above the flat line at 11,146.06.
Investors will also get a flurry of economic reports, including durable goods, new home sales, unemployment claims, and consumer sentiment, as well as the release of the minutes from the last Federal Reserve meeting.
The week ahead is a short one. The market will be closed Thursday for Thanksgiving. On Friday, the stock exchanges will close at 1 p.m. ET and the bond market will close at 2 p.m. ET.
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Plan A: Short if market failed to support above 11670. Targets are 11618 and 11565.
Plan B: Long if market supported firm above 11670. Targets are 11721 and 11776.
HSI
The stock market in Hong Kong fell 59.71 points or 0.33% to close at 17,985.95 on Friday, shifting from strong gains during the morning session which was supported by news that China's video games regulator granted publishing licenses to 70 online games.
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Plan A: Remain long if the market stays above 17656. Targets are 18125 and 18594.
Plan B: Consider short only if the market stays below 17656. Targets are 17500 and 17188.
WTI Crude
Oil dropped by about 2% on Friday, logging a second weekly decline, due to concern about weakened demand in China and further increases to U.S. interest rates.
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Plan A: Remain short as long as oil price stays below 84.38. Targets are 78.13 and 75.
Plan B: Consider long only if oil price stays above 84.38. Targets are 85.94 and 87.50.
Gold
Gold prices fell on Friday and were bound for a weekly dip following indications from U.S. Federal Reserve officials that more interest rate hikes were due as the bank seeks to lower inflation.
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Plan A: Remain short as long as gold price stays below 1765.6. Targets are 1750 and 1742.2.
Plan B: Attempts long only if gold price stays above 1765.6. Targets are 1773.4 and 1781.3.
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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