WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stocks closed higher on Thursday, extending recent gains as data showing a fall in consumer prices in December bolstered expectations of less aggressive interest rate hikes from the Federal Reserve.
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Plan A: Remain long as long as market trades above 33789. Targets are 34375 and 34765.
Plan B: Consider short if market stays below 33789. Targets are 33593 and 33398.
E-Mini S&P 500
Stocks closed higher Thursday after December’s consumer price report showed inflation cooled for the month, raising hopes the Federal Reserve can once again slow interest rate hikes.
The Dow Jones Industrial Average gained 216.96 points, or 0.64%, to close at 34,189.97. The S&P 500 added 0.34%, to end at 3,983.17.
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Plan A: Short if market failed to support above 3978. Targets are 3960 and 3941.
Plan B: Long only if market supported firm above 3978. Targets are 3995 and 4011.
E-Mini Nasdaq
The Nasdaq Composite closed up 0.64% at 11,001.10, marking a five-day winning streak. That’s the first rally of that length the technology-heavy index has seen since July.
The Nasdaq is on pace for the biggest weekly increase of the three indexes, gaining 4.1% so far as investors picked up beaten-down growth stocks ahead of the CPI report.
December's CPI report showed a 0.1% dip in prices from November, but prices were still 6.5% higher than the prior year. That’s in line with what economists polled by Dow Jones expected. In November, the report showed a 0.1% monthly gain and an annual pace of 7.1%.
The CPI excluding food and energy prices was also in line with expectations, showing a month-over-month gain of 0.3%. The so-called “core” index was 5.7% higher in December than a year ago.
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Plan A: Long if market supported firm above 11406. Targets are 11461 and 11510.
Plan B: Short if market failed to support above 11406. Targets are 11350 and 11298.
HSI
The stock market in Hong Kong rose 104 points or 0.49% to end at 21,436, trading near six-month tops after ending lower in the prior session, amid bets that December's upcoming US CPI data will ease further and supported the case for the Fed to slow its tightening path.
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Plan A: Remain long if the market stays above 21406. Targets are 21875 and 22031.
Plan B: Consider short only if the market stays below 21406. Targets are 21250 and 21094.
WTI Crude
crude oil rose for a sixth-straight session on Thursday as inflation in the United States moderated last month, pushing the dollar lower, while demand from China is on the rise.
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Plan A: Remain long as long as oil price stays above 76.56. Targets are 78.91 and 79.69.
Plan B: Consider short only if oil price stays below 76.56. Targets are 75.78 and 75.
Gold
Gold prices rose over 1%, hovering near the $1,900 per ounce pivot on Thursday after data showing signs of cooling inflation in the United States boosted bets for slower rate hikes from the Federal Reserve.
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Plan A: Remain long as long as gold price stays above 1882.8. Targets are 1906.3 and 1914.1.
Plan B: Attempts short only if gold price stays below 1882.8. Targets are 1878.9 and 1871.1.
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.
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