Thursday, January 6, 2022

7 January 2022 Foreign

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


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E-Mini Dow


After a jittery start to Thursday, U.S. stocks stabilized a little over 30 minutes into the trading day, and rallied. However, weakness in the last hour weighed on the major indexes.

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Plan A: Remain short as long as market stays trading below 36284. Targets are 36080 and 35952.

Plan B: Consider long if market trades firmly above 36080 and rebound. Targets are 36284 and 36455.



E-Mini S&P 500

Stocks fell on Thursday to end a day of choppy trading, following the massive tech sell-off in the previous session.

The S&P 500 lost 0.1%, closing at 4,696.05.

As investors digested the minutes Thursday, the 10-year Treasury yield pushed as high as above 1.75%, after ending last year at 1.51%.

Initial claims for unemployment insurance ticked up to 207,000 for the week ending Jan.1, the Labor Department reported Thursday. Economists surveyed by Dow Jones expected claims would total 195,000.

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Plan A: Long if market supported firmly above 4704. Targets are 4716, 4729 and 4735.

Plan B: Short only if the market failed to support above 4704. Targets are 4693, 4685 and 4678.




E-Mini Nasdaq

U.S. stock index futures during early morning trading on Friday, ahead of the key jobs report release.

The Nasdaq Composite slipped 0.1% to 15,080.86. The Nasdaq fell about 4% over the previous two trading sessions.

Several tech stocks continued their slide, as investors rotated out of high valuation names. Tesla and Netflix fell more than 2% each. In megacap tech, Apple lost 1.6%. Amazon fell 0.6%, and Alphabet dipped less than 0.1%. Meta Platforms gained 2.5%, however.

The tech-heavy Nasdaq Composite is on track for its worst week since February 2021 as investors rotate out of growth and into value names.

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Plan A: Long if the market supported firmly above 15793. Targets are 15826, 15851 and 15885.

Plan B: Short if market failed to support above 15793. Targets are 15762, 15739 and 15700.



HSI

Hong Kong stocks fell on Thursday, tracking a global slump after Federal Reserve meeting minutes pointed to a faster-than-expected rise in U.S. interest rates, led by losses in real estate developers and consumer staples.

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Plan A: Remain short as long as market stays below 23154. Targets are 22850 and 22759.

Plan B: Attempt long if market trades firmly above 22962. Targets are 23154 and 23215.


WTI Crude

Oil prices rose sharply on Thursday, extending a rally from the previous session, on escalating unrest in OPEC+ oil producer Kazakhstan and supply outrages in Libya.

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Plan A: Remain long as long as oil price trades firmly above 77.6. Targets are 79.8 and 80.7.


Plan B : Consider short if oil price surges but fails to breach above 79.8. Targets are 78.7 and 77.6.


Gold

Gold prices slid to a two-week low on Thursday, pressured by rallying U.S. Treasury yields after the Federal Reserve signaled quicker increases to interest rates.

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Plan A: Remain short as long as gold price stays below 1803.1. Targets are 1790.3 and 1784.7.


Plan B: Consider long if gold price supports firmly above 1784.7 and rebound. Targets are 1790.3 and 1803.1.


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.     





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