9 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 all gained more than 2% on Friday after December payrolls expanded more than expected even as wage increases slowed and services activity contracted, easing worries about the Federal Reserve's interest rate hiking path.

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Plan A: Remain long as long as market trades above 33398. Targets are 33789 and 33984.

Plan B: Consider short if market stays below 33398. Targets are 33203 and 33008.

E-Mini S&P 500

Stock futures inched higher in overnight trading Sunday after the major averages notched their first big rally of the new trading year.

Stocks rose again when the ISM’s nonmanufacturing purchasing managers’ index showed that the services industry contracted in December, a sign that the Fed’s rake hikes may be working to slow the economy.

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Plan A: Long if market supported firm above 3906. Targets are 3916 and 3924.

Plan B： Short if market failed to support above 3906. Targets are 3892 and 3888. 

E-Mini Nasdaq

The overnight moves followed Friday’s first major market rally of 2023. The Dow surged 700 points, or 2.13%, while the S&P 500 and Nasdaq Composite added 2.28% and 2.56%, respectively, after the December jobs report signaled that inflation may be easing.

The December nonfarm payrolls report showed that the U.S. economy added 223,000 jobs last month, slightly higher than the expected 200,000 jobs economists polled by the Dow Jones expected. In addition, wages grew slower than anticipated, increasing 0.3% on the month where economists expected 0.4%.

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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 fell 60 points or 0.29% to finish at 20,991 on Friday, erasing early gains and falling for the first time in five sessions, rattled by reports that China is pausing chip investment aimed at rivaling the US.

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Plan A: Remain long if the market stays above 20938. Targets are 21563 and 21875.

Plan B: Consider short only if the market stays below 20938. Targets are 20625 and 20313.

WTI Crude

crude oil closed with a small gain in a volatile session on Friday, despite recession worries as the US labor market remains strong, showing the economy has not yet slowed sufficiently to ease inflation and threatening additional interest-rate hikes from the Federal Reserve though showing demand remains robust.

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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 prices shot up over 1% on Friday to seven-month highs as Treasury yields and the dollar fell after U.S. economic data cemented expectations of a less-hawkish Fed, setting the metal on track for its third consecutive weekly rise.

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Plan A: Remain long as long as gold price stays above 1843.8. Targets are 1875 and 1890.6.

Plan B: Attempts short only if gold price stays below 1843.8. Targets are 1828.1 and 1820.3.

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.