8 Aug 2023 Foreign

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

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E-Mini Dow

Wall Street ended higher on Monday, fueled by gains in Berkshire Hathaway and Amazon ahead of highly awaited U.S. inflation data later this week.

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Plan A: Remain long as long as market trades above 35352. Targets are 35645 and 35742.

Plan B: Consider short if market stays below 35352. Targets are 35254 and 35156.

E-Mini S&P 500

Stock futures were little changed Wednesday as traders contended with Fitch’s recent downgrade of the United States’ long-term rating.

Futures tied to the S&P 500 fell 0.1%.

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Plan A: Short if market failed to support above 4524. Targets are 4510 and 4499.

Plan B: Long if market supported firm above 4524 Targets are 4539 and 4549.

E-Mini Nasdaq

Nasdaq 100 futures also dropped 0.08%.

In after-hours action, shares of chipmaker Qualcomm slipped nearly 7% after the company missed analysts’ expectations on fiscal third-quarter revenue and guidance for the current period. DoorDash added 4.2% after beating expectations on revenue.

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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 closed barely moved on Monday as traders weigh the Federal Reserve's next move on interest rates following a mixed US jobs report last week.

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Plan A: Remain short if the market stays below 19688. Targets are 19219 and 19063.

Plan B: Consider long only if the market stays above 19688. Targets are 19844 and 20000.

WTI Crude

crude oil finish 1.1% lower at $81.94 a barrel as investors pull back slightly on a weeks-long rally that saw prices finish Friday at their highest in 16 weeks.

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Plan A: Remain long as long as oil price stays above 81.25. Targets are 82.81 and 83.59.

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

Gold

Gold prices were on the backfoot on Monday after Federal Reserve Governor Michelle Bowman indicated that additional interest rate hikes would likely be needed to rein in inflation.

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Plan A: Remain long as long as gold price stays above 1933.59. Targets are 1945.31 and 1953.12.

Plan B: Attempts short only if gold price stays below 1933.59. Targets are 1929.68 and 1925.78.

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.