28 Dec 2022 Foreign

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

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E-Mini Dow

As Wall Street returned to work after the three-day Christmas weekend, investors maintained the cautious attitude that has marked most of the past few weeks. The major U.S. equity averages finished the day with a mixed performance.

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Plan A: Remain long as long as market trades above 33203. Targets are 33594 and 33789.

Plan B: Consider short if market stays below 33203. Targets are 33008 and 32813.

E-Mini S&P 500

The S&P 500 fell Tuesday, at the start of the holiday-shortened week, as bond yields climbed and investors weighed the economic outlook for 2023.

For December, the S&P has dropped 6.2%, while the Dow and Nasdaq have tumbled 3.9% and 9.7%, respectively. The major averages are on pace for their biggest monthly declines since September.

After a brutal year consumed by inflation and recession fears, investors hoped to cap off 2022 on a positive note. Friday kicked off the period for a Santa Claus rally, which is typically considered the final five-day trading stretch in the current year, as well as the first two trading days in the new year.

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Plan A: Long if market supported firm above 3867. Targets are 3872 and 3896.

Plan B： Short if market failed to support above 3867. Targets are 3850 and 3830. 

E-Mini Nasdaq

China-linked stocks advanced as the country loosened Covid restrictions. Tesla dropped more than 11% on news of an extended production pause, with the stock on pace for its worst year ever. Southwest shed nearly 6% as the airline canceled thousands of flights.

Bond yields also pushed higher, putting pressure on growth stocks like technology. The yield on the 10-year Treasury

 note was last up nearly 11 basis points to trade at 3.85%. Apple

’s stock was among the worst performers in the Dow, falling to levels not seen since June 2021 and closing 1.4% lower.

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Plan A: Long if market supported firm above 11060. Targets are 11097 and 11135.

Plan B: Short if market failed to support above 11060. Targets are 11031 and 11003.

HSI

The Hang Seng dropped 86 points or 0.44% to close at 19,593 on Friday, amid caution that China is expecting a peak in COVID cases next week with a certain impact on the country's health system following Beijing's abrupt decision to exit from its strict zero policy earlier in the month.

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Plan A: Remain long if the market stays above 19375. Targets are 19688 and 19844.

Plan B: Consider short only if the market stays below 19375. Targets are 19297 and 19141.

WTI Crude

WTI crude futures pared early gains to hover at $79.5 per barrel on Tuesday after forecasts of moderate weather and news that some US refineries are expected to resume operations quickly eased fears of low supply after Artic blasts in the region halted output.

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Plan A: Remain long as long as oil price stays above 78.91. Targets are 81.25 and 82.81.

Plan B: Consider short only if oil price stays below 78.91. Targets are 77.34 and 75.78.

Gold

Gold prices jumped to their highest level in six months on Tuesday as optimism surrounding decisions by top consumer China to further ease COVID-19 restrictions weighed on the dollar, while benchmark U.S. yields limited gains.

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Plan A: Remain long as long as gold price stays above 1800.8. Targets are 1828.1 and 1835.9.

Plan B: Attempts short only if gold price stays below 1800.8. 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.