10 Aug 2023 Foreign

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

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E-Mini Dow

U.S. stocks closed lower on Wednesday, the day after a report showed Americans borrowed more than ever on their credit cards in the last quarter, and a day ahead of U.S. Consumer Price Index (CPI) inflation data that could influence Federal Reserve interest rate decisions.

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Plan A: Remain short as long as market trades below 35352. Targets are 35156 and 35059.

Plan B: Consider long if market stays above 35352. Targets are 35449 and 35547.

E-Mini S&P 500

Stocks fell Wednesday as Wall Street awaited fresh inflation data coming later in the week.

The S&P 500 shed 0.7% to 4,467.71.

Wednesday’s moves follow a losing day on Wall Street, after a Moody’s downgrade of several regional banks dampened investor sentiment. Some market participants were concerned the signal could spell more trouble for markets ahead, but others said the pullback is expected given the extraordinary rally in equities this year.

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Plan A: Short if market failed to support above 4505. Targets are 4499 and 4482.

Plan B: Long if market supported firm above 4505 Targets are 4519 and 4531.




E-Mini Nasdaq

Those moves precede a much-anticipated U.S. inflation report, with July’s reading of the consumer price index slated for release Thursday.

Investors have kept an eye on the index in recent months for potential insights into how the Federal Reserve will move interest rates going forward. Economists polled by Dow Jones expect the inflation gauge rose 3.3% in July.

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Plan A: Short if market failed to support above 15388. Targets are 15352 and 15317.

Plan B: Long if market retraced but supported firm above 15388. Targets are 15423 and 15448.

HSI

Hong Kong stocks ended Wednesday slightly higher on bargain-buying after a run of hefty losses fuelled by concerns over China's stuttering economy, while traders are now awaiting US inflation data later in the week.

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Plan A: Remain short if the market stays below 19375. Targets are 18906 and 18750.

Plan B: Consider long only if the market stays above 19375. Targets are 19531 and 19688.

WTI Crude

crude oil closed the highest in nine months early on Wednesday as tight supply following Saudi Arabia's production cuts offset a rise in US inventories and weak Chinese economic data.

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Plan A: Remain long as long as oil price stays above 81.25. Targets are 84.38 and 85.16.

Plan B: Consider short  only if oil price stays below 81.25. Targets are 80.47 and 79.69.

Gold

Gold prices slipped on Wednesday as investors stayed on the sidelines ahead of key U.S. inflation data that could offer more cues on the Federal Reserve's stance on monetary policy.

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Plan A: Remain short as long as gold price stays below 1937.5. Targets are 1914.06 and 1906.25.

Plan B: Attempts long only if gold price stays below 1937.5. Targets are 1941.40 and 1945.37.

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.