4 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 fourth consecutive session on Thursday as economic data did little to alter expectations the Federal Reserve would continue raising interest rates for longer than previously thought.

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Plan A: Remain short as long as market trades below 32227. Targets are 31836 and 31641.

Plan B: Consider long if market stays above 32227. Targets are 32422 and 32617.

E-Mini S&P 500

Stocks fell Thursday, declining for a fourth consecutive sssion. The slide came a day after the Federal Reserve delivered another three-quarter point interest rate hike and signaled that a pivot or rate cut won’t come anytime soon.

The Dow Jones Industrial Average slid 146.51 points, or 0.46%, to close at 32,001.25. The S&P 500 lost 1.06% to finish at 3,719.89, while the Nasdaq Composite shed 1.73% to settle at 10,342.94.

Yield spikes as traders digested the latest rate decision, putting pressure on equities. The yield on the 2-year Treasury note hit its highest level since July 2007, while the benchmark 10-year Treasury yield popped 9 basis points to about 4.15%.

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Plan A : Long only if market supported firm above 3893. Targets are 3908 and 3929.

Plan B : Short if market rebounded but failed to support above 3893. Targets are 3875 and 3860.

E-Mini Nasdaq

U.S. stock futures were higher Friday morning after the major averages dropped for a fourth day, and investors looked ahead to the October jobs report for clues into the pace of future rate hikes from the Federal Reserve.

The October non-farm payrolls report on Friday will give investors further clues into where the economy stands, and how much work the central bank has ahead of it to bring down inflation. Economists polled by Dow Jones expect 205,000 jobs were added last month and predict that the unemployment rate held steady at 3.5%.

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Plan A : Long if market supported firm above 11589. Targets are 11641 and 11692.

Plan B : Short if market rebounded and failed to support above 11589. Targets are 11530 and 11478.

HSI

The Hang Seng slumped 487.68 or 3.1% to close at 15,339.49 on Thursday, its lowest close since a 13-1/2-year low, hurt by US Federal Reserve Chair Jerome Powell's hawkish comments after a fourth straight 75-basis-point rate hike Wednesday.

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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 slid about 2% on Thursday as China stood by its zero-COVID policy and an increase in U.S. interest rates pushed up the dollar, raising fears of a global recession that would crimp fuel demand.

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Plan A: Remain short as long as oil price stays below 89.06. Targets are 87.50 and 86.72.

Plan B: Consider long only if oil price stays above 89.06. Targets are 89.84 and 90.63.

Gold

Gold prices fell to a more than one-month low on Thursday as the dollar and U.S. Treasury yields jumped after hawkish remarks from Federal Reserve Chair Jerome Powell, denting the non-yielding metal's appeal.

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Plan A: Remain short as long as gold price stays below 1640.6. Targets are 1625 and 1617.2.

Plan B: Attempts long only if gold price stays above 1640.6. Targets are 1648.4 and 1656.3.

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.