17 Jul 2023 Foreign

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

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E-Mini Dow

Wall Street ended mixed on Friday, with gains in UnitedHealth Group offsetting a dip in Citi, while the major indexes gained overall for the week.

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Plan A: Remain long as long as market trades above 34473. Targets are 34766 and 34863.

Plan B: Consider short if market stays below 34473. Targets are 34375 and 34277.

E-Mini S&P 500

Stock futures dipped slightly on Monday morning ahead of a busy week for corporate earnings.

The moves came on the heels of solid big bank earnings and softer inflation reports that lifted investor sentiment. That heightened some hopes the Federal Reserve may be able to tamp down inflation without tipping the economy into a recession.

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Plan A: Short if market failed to support above 4474. Targets are 4462 and 4451.

Plan B: Long if market supported firm above 4474. Targets are 4489 and 4499.

E-Mini Nasdaq

Futures connected to the Nasdaq 100 traded 0.04% lower.

Wall Street are bracing for what be a gloomy season with lower profits. Analysts forecast a more than 7% decline in S&P 500 earnings from a year ago, according to FactSet.

This week also ushers in the Fed’s “blackout period” ahead of its July policy meeting. Traders anticipate a near 97% chance the central bank increases interest rates later this month, after pausing hikes in June, according to CME Group’s FedWatch tool.

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Plan A: Short if market failed to support above 15275. Targets are 15240 and 15208.

Plan B: Long if market retraced but supported firm above 15275. Targets are 15302 and 15339.

HSI

Hong Kong stocks completed a full week of gains on Friday, as traders bet the Federal Reserve is close to the end of its rate-hike cycle and were hopeful of fresh economic stimulus measures out of China.

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Plan A: Remain long if the market stays above 19063. Targets are 19688 and 19844.

Plan B: Consider short only if the market stays below 19063. Targets are 18906 and 18750.

WTI Crude

crude oil closed lower on Friday following three days of gains that pushed prices 5.3% higher on tight supply following Saudi production cuts and a plunging dollar.

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Plan A: Remain short as long as oil price stays below 76.17. Targets are 74.22 and 73.44.

Plan B: Consider long only if oil price stays above 76.17. Targets are 76.56 and 77.34.

Gold

Gold prices eased on Friday but were on track for their biggest weekly gain since April, after signs of slowing U.S. inflation raised expectations of a pause in Federal Reserve's interest rate hikes after this month.

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Plan A: Remain long as long as gold price stays above 1953.1. Targets are 1964.8 and 1972.7.

Plan B: Attempts short only if gold price stays below 1953.1. Targets are 1949.2 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.