5 Jan 2023 Foreign

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

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E-Mini Dow

Wall Street's main indexes closed higher on Wednesday but below its session peak after volatile trading following the release of minutes from the Federal Reserve's last meeting, which showed officials laser-focused on controlling inflation even as they agreed to slow their interest rate hiking pace.

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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 33105 and 33008.

E-Mini S&P 500

Stocks closed higher Wednesday after a choppy session as investors looked past Federal Reserve meeting minutes that showed the central bank will remain aggressive in its policy to tame high inflation.

The November Job Openings and Labor Turnover report, or JOLTS, came in slightly better than anticipated, signaling continued labor market strength amid the central bank’s rate hikes to tame inflation. The ISM manufacturing index, on the flip side, showed a contraction in the sector after 30 months of expansion, signaling that interest rate increases may be working to slow the economy.

U.S. stocks rose as investors digested the reports but pared gains when minutes from the Federal Reserve’s December meeting showed hawkish sentiment from the central bank even as it delivered a half-percentage point rate hike, smaller than previous increases. The report also showed the Fed intends to hold higher rates until there’s sufficient data proving inflation has cooled.

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Plan A: Long if market supported firm above 3846. Targets are 3859 and 3863.

Plan B： Short if market failed to support above 3846. Targets are 3832 and 3824. 

E-Mini Nasdaq

The S&P 500 climbed 0.75% to 3,825.97 and the Nasdaq Composite gained 0.69% to close at 10,458.76. Bond yields were lower, even as the Fed reiterated that rates would move higher this year.

The S&P 500 climbed 0.75% to 3,825.97 and the Nasdaq Composite gained 0.69% to close at 10,458.76. Bond yields were lower, even as the Fed reiterated that rates would move higher this year.

Investors will be looking to Friday’s jobs report for further information about how the economy is faring amid the Fed’s rate hikes. Consumer companies Walgreens Boots Alliance and Constellation Brands are scheduled to report quarterly earnings before market open on Thursday.

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Plan A: Long if market supported firm above 10960. Targets are 10993 and 11025.

Plan B: Short if market failed to support above 10960. Targets are 10925 and 10888.

HSI

The Hang Seng soared 647 points or 3.22% to close at 20,793 on Wednesday, its highest finish since late July of 2022, extending strong gains from the day before, boosted by optimism that a recovery in China's economy will gain momentum this year after the country exit from strict curbs.

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Plan A: Remain long if the market stays above 20000. Targets are 21563 and 21875.

Plan B: Consider short only if the market stays below 20000. Targets are 19688 and 19375.

WTI Crude

crude oil closed with a second-straight loss on Wednesday on expectations for weaker demand as major Western economies slow amid rising interest rates and China suffers through a crisis of new Covid-19 infections.

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Plan A: Remain short as long as oil price stays below 76.56. Targets are 71.88 and 70.31.

Plan B: Consider long only if oil price stays above 76.56. Targets are 78.13 and 79.69.

Gold

Gold held near seven-month highs reached on Wednesday after the minutes of the Federal Reserve's last meeting showed all its policymakers remained committed to fighting inflation, but agreed on the need to slow rate hikes in 2023.

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Plan A: Remain long as long as gold price stays above 1843.8. Targets are 1867.2 and 1875.

Plan B: Attempts short only if gold price stays below 1843.8. Targets are 1835.9 and 1828.1.

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.