30 Jan 2023 Foreign

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

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E-Mini Dow

Wall Street advanced on Friday, marking the end of an rocky week in which economic data and corporate earnings guidance hinted at softening demand but also economic resiliency ahead of next week's Federal Reserve monetary policy meeting.

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Plan A: Remain long as long as market trades above 33887. Targets are 34277 and 34375.

Plan B: Consider short if market stays below 33887. Targets are 33691 and 33496.

E-Mini S&P 500

Stocks rose Friday and capped off a winning week fueled by better-than-expected economic growth and a pop in Tesla shares.

Investors weighed more economic data Friday ahead of next week’s Federal Reserve policy meeting. The personal consumption expenditures price index, excluding energy and food, showed prices rose 4.4% from a year ago, the Commerce Department said, and in line with the Dow Jones estimate. So-called PCE is a preferred inflation gauge for the Fed.

A better-than-expected fourth-quarter gross domestic product report Thursday also helped stoke hopes that the Fed may manage a soft landing.

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Plan A: Long only if market supported firm above 4045. Targets are 4059 and 4061.

Plan B: Short if market failed to support above 4045. Targets are 4038 and 4021.

E-Mini Nasdaq

All the major averages posted a positive week and are on pace for a month of gains. The tech-heavy index rose 4.32% and closed out its fourth week of gains. It’s on pace for its best monthly performance since July. 

Tesla rose 11% Friday, and more than 33% for the week after reporting record revenue. It marked the electric vehicle stock’s best weekly performance since May 2013.

These are some of the last data points before the central bank’s widely expected 25 basis point hike.

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Plan A: Long if market supported firm above 11873. Targets are 11903 and 11942.

Plan B: Short if market failed to support above 11873. Targets are 11845 and 11801.

HSI

Hong Kong's stock market ended higher on Friday with the benchmark Hang Seng Index up 0.54 percent to close at 22,688 points.

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Plan A: Remain long if the market stays above 22188. Targets are 22813 and 23125.

Plan B: Consider short only if the market stays below 22188. Targets are 22031 and 21875.

WTI Crude

crude oil closed lower on Friday.as recession worries offset hopes for higher demand.

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Plan A: Remain short as long as oil price stays below 81.25. Targets are 78.91 and 76.56.

Plan B: Consider long only if oil price stays above 81.25. Targets are 81.54 and 82.42.

Gold

Gold steadied on Friday with gains capped by a stronger dollar, but the metal was still set for a sixth straight weekly rise ahead of the U.S. Federal Reserve's rate decision next week.

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Plan A: Remain short as long as gold price stays below 1937.5. Targets are 1921.9 and 1914.1.

Plan B: Attempts long only if gold price stays above 1937.5. Targets are 1941.4 and 1945.3.

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.