2 Aug 2023 Foreign

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

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E-Mini Dow

Wall Street's main indexes fell on Tuesday as investors assessed mixed earnings from industry heavyweights and digested data that showed manufacturing activity slowed more than expected in July.

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Plan A: Remain long as long as market trades above 35547. Targets are 35742 and 35840.

Plan B: Consider short if market stays below 35547. Targets are 35449 and 35400.

E-Mini S&P 500

Stocks finished July on a positive note. The S&P 500 jumped 3.1% to notch its fifth consecutive positive month for the first time since its seven-month streak ending August 2021. The tech-heavy Nasdaq Composite gained about 4.1% and registered its fifth straight winning month for the first time since April 2021.

For the month, the S&P jumped 3.1% to register its fifth consecutive positive month for the first time since its seven-month streak ending August 2021. 

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Plan A: Long if market supported firm above 4575 Targets are 4590 and 4601.

Plan B: Short if market failed to support above 4575. Targets are 4563 and 4549.

E-Mini Nasdaq

The tech-heavy Nasdaq gained about 4.1% and the blue-chip Dow rose about 3.4%.

The blue-chip Dow added about 3.4%. Last week, the index posted a 13-day advance that matched its longest streak of gains going back to 1987.

Investors in recent weeks have grown increasingly more hopeful about a soft landing scenario as economic data shows ongoing strength in the labor market and cooling inflation. Second-quarter earnings also continue to trickle in better than expected.

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Plan A: Long if market retraced but supported firm above 15721. Targets are 15759 and 15793.

Plan B: Short if market failed to support above 15721. Targets are 15690 and 15663.

HSI

Hong Kong stocks ended Tuesday slightly lower following a recent rally driven by China's pledges of economic stimulus and hopes the Federal Reserve will not have to hike interest rates again.

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Plan A: Remain short if the market stays below 20156. Targets are 19844 and 19688.

Plan B: Consider long only if the market stays above 20156. Targets are 20313 and 20469.

WTI Crude

crude oil fell off the highest in more than three months on Tuesday, dropping after three rising sessions on a rising dollar.

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Plan A: Remain long as long as oil price stays above 80.47. Targets are 82.81 and 83.59.

Plan B: Consider short only if oil price stays below 80.47. Targets are 79.69 and 78.91.

Gold

Gold retreated on Tuesday as the dollar firmed and hopes of a soft landing for the U.S. economy dented safe-haven demand for bullion.

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Plan A: Remain short as long as gold price stays below 1960.93. Targets are 1937.5 and 1929.68.

Plan B: Attempts long only if gold price stays above 1960.93. Targets are 1968.75 and 1976.56.

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.