1 Jun 2022 Foreign

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

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E-Mini Dow

Wall Street closed down in volatile trade on Tuesday, battered by fears of soaring inflation and a potentially harsher crackdown than previously expected by the Federal Reserve on sharply rising consumer prices.

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Plan A: Remain long as long as market trades above 32813. Targets are 33203 and 33594.

Plan B: Consider short if market stays below 32813. Targets are 32617 and 32422.

E-Mini S&P 500

U.S. stocks fell in see-saw trading Tuesday as investors closed out a rocky month that saw the S&P 500 flirt with bear-market territory amid inflation and recession fears.

The S&P 500 dipped 0.6% to 4,132.15.

At the start of May, the Federal Reserve hiked interest rates by half a percentage point in a bid to tamp down generationally hot inflation. Recession fears have mounted as market participants fear the Fed’s policy tightening will trigger an economic decline.

Investors also eyed the continuing war in Ukraine and Covid outbreaks in China, raising concerns about global commodities and supply chain challenges.

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Plan A: Short if market failed to support above 4138. Targets are 4121 and 4115.

Plan B: Long only if market supported firm above 4138. Targets are 4149 and 4152. 

E-Mini Nasdaq

Stock futures moved slightly higher on Tuesday evening as Wall Street turned the page to another month.

The Nasdaq Composite eased 0.4% to 12,081.39.

For the month of May, the Dow and S&P 500 finished little changed, after last week’s strong rally chipped away at long losing streaks for the indexes. The Nasdaq Composite underperformed, shedding more than 2%.

On Wednesday, investors will get an updated look at manufacturing and construction spending data. The first day of June also marks the start of the Fed’s plan to reduce its balance sheet, which ballooned to nearly $9 trillion during the Covid pandemic.

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Plan A: Short if market failed to support above 12641. Targets are 12619 and 12585.

Plan B: Long if market supported firm above 12641. Targets are 12678 and 12706.

HSI

The Hong Kong Hang Seng Index opened evenly and rose into the close, finishing up 1.4% as traders weighed prospects for easing of China's anti-pandemic lockdowns and for more government stimulus after another soft official purchasing manager's index (PMI) report.

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Plan A: Remain long if the market stays above 20781. Targets are 21250 and 21563.

Plan B: Consider short only if the market stays below 20625. Targets are 20469 and 20313.

WTI Crude

Oil prices turned negative on Tuesday after a report that some producers were exploring the idea of suspending Russia's participation in the OPEC+ production deal.

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Plan A: Remain long as long as oil price stays above 112.50. Targets are 115.63 and 118.75.

Plan B: Consider short only if oil price stays below 112.50. Targets are 110.94 and 109.38.

Gold

Gold prices fell nearly 1% on Tuesday, and were headed for a second consecutive month of declines, pressured by a stronger dollar and as rising U.S. Treasury yields dented the metal's appeal despite concerns over surging inflation.

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Plan A: Remain short as long as gold price stays below 1851.6. Targets are 1835.9 and 1828.1.

Plan B: Attempts long only if gold price stays above 1828.1. Targets are 1843.8 and 1859.4.

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.