4 Sep 2023 Foreign

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

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E-Mini Dow

U.S. stock indexes settled for a mixed close and benchmark Treasury yields rebounded after a U.S. jobs report showed an uptick in unemployment, cementing expectations that the Federal Reserve will let interest rates stand at its September meeting.

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Plan A: Remain long as long as market trades above 34766. Targets are 34961 and 35059.

Plan B: Consider short if market stays below 34766. Targets are 34668 and 34570.

E-Mini S&P 500

A recent string of positive sessions — in which the S&P 500 and the Dow climbed for four straight days — helped the indexes trim their monthly losses. Nevertheless, in August, the broad-market index lost 1.77%, while the Nasdaq shed 2.17%. The 30-stock Dow dropped 2.36%.

Traders on Thursday also pored over new U.S. inflation data. The core personal consumption expenditures index increased 0.2% month over month in July and 4.2% year over year, matching estimates from economists polled by Dow Jones. The core PCE is a closely watched inflation indicator by the Federal Reserve.

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Plan A: Short if market failed to support above 4529. Targets are 4510 and 4501.

Plan B: Long if market supported firm above 4529. Targets are 4533 and 4552.




E-Mini Nasdaq

The Nasdaq Composite registered a fifth consecutive winning day, but still suffered its worst monthly loss of 2023.

The tech-heavy index added 0.11% to end Thursday’s session at 14,034.97.

Investors will now turn their attention to non-farm payroll data out Friday morning. Economists polled by Dow Jones forecast 170,000 additions. Traders are holding onto hope that the report will indicate that the economy is slowing meaningfully, and ultimately give the central bank reason to pause benchmark interest rate hikes.

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Plan A: Short if market failed to support above 15415. Targets are 15382 and 15360.

Plan B: Long if market retraced but supported firm above 15415. Targets are 15452 and 15477.

HSI

Hong Kong shares fell on Thursday as optimism the Federal Reserve will hold off hiking interest rates was overshadowed by data highlighting weakness in China's stuttering economy.

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Plan A: Remain short if the market stays below 18438. Targets are 18281 and 18125.

Plan B: Consider long only if the market stays above 18438. Targets are 18594 and 18750.

WTI Crude

crude oil closed higher for a seventh-straight session early on Friday as the market continues to focus on tight supplies, while the United States reported more new jobs than expected were added last month as its labor market continues to run hot.

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Plan A: Remain long as long as oil price stays above 84.38. Targets are 86.72 and 87.50.

Plan B: Consider short only if oil price stays below 84.38. Targets are 83.59 and 82.81.

Gold

Gold trimmed initial gains on Friday, but was still headed for a weekly rise after an increase in the U.S. unemployment rate boosted bets of a pause in the Federal Reserve's interest rate hikes.

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Plan A: Remain long as long as gold price stays above 1937.5. Targets are 1945.31 and 1949.21.

Plan B: Attempts short only if gold price stays below 1937.5. Targets are 1933.59 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.