12 Dec 2022 Foreign

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

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E-Mini Dow

Wall Street ended lower on Friday as investors assessed economic data and awaited a potential 50-basis point interest rate hike by the U.S. Federal Reserve at its policy meeting next week, while apparel company Lululemon slumped following a disappointing profit forecast.

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Plan A: Remain short as long as market trades below 33984. Targets are 33594 and 33398.

Plan B: Consider long if market stays above 33984. Targets are 34180 and 34375.

E-Mini S&P 500

U.S. stock futures were fractionally lower early Monday ahead of a week with several anticipated events in the ongoing fight against inflation.

The move in futures comes as investors will be focused on inflation this week. On Tuesday, the November consumer price index will be released, and traders will be looking for a sign that inflation is slowing.

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Plan A: Long if market supported firm above 3947. Targets are 3968 and 3989.

Plan B： Short if market failed to support above 3947. Targets are 3928 and 3905. 

E-Mini Nasdaq

The Federal Reserve has a two-day meeting starting the same day. The central bank is expected to announce another rate hike on Wednesday, though traders are anticipating a smaller move than in recent months.

Wall Street is coming off a rocky week that saw all three major averages lose ground. The Dow fell 2.77% for its worst week since September. The S&P 500 dropped 3.37%, while the Nasdaq Composite shed 3.99%.

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Plan A: Short if market failed to support above 11671. Targets are 11620 and 11569.

Plan B: Long if market supported firm above 11671. Targets are 11720 and 11777.

HSI

The Hang Seng surged 450 points or 2.32% to close at over four-month peak of 19,900 on Friday, building gains from the prior session and posting a 6.6% jump for the week which was the second straight weekly gain, boosted by a rebound in US stocks Thursday ahead of key inflation print that will provide clues on whether the Fed will be able to start slowing down its aggressive tightening.

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Plan A: Remain long if the market stays above 19219. Targets are 19688 and 19844.

Plan B: Consider short only if the market stays below 19219. Targets are 19063 and 18906.

WTI Crude

WTI crude futures fell back to below $71 per barrel on Friday, the lowest in 12 months, and were on track to end the week 10% lower pressured by growing concerns about a potential global recession-driven demand downturn, particularly among advanced economies.

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Plan A: Remain short as long as oil price stays below 75. Targets are 70.31 and 68.75.

Plan B: Consider long only if oil price stays above 75. Targets are 75.78 and 78.13.

Gold

Gold prices rose on Friday despite an uptick in the dollar and U.S. bond yields as some investors still expect the Federal Reserve will slow the pace of rate hikes from early next year.

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Plan A: Remain long as long as gold price stays above 1796.9. Targets are 1816.4 and 1820.3.

Plan B: Attempts short only if gold price stays below 1796.9. Targets are 1793 and 1789.1.

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.