10 May 2022 Foreign

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

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E-Mini Dow

US stocks started the week lower, with the S&P 500 falling to its lowest level since March 2021 as markets assessed the impact of rising rates on economic growth.

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Plan A: Remain short as long as market trades below 32813. Targets are 32031 and 31641.

Plan B: Consider long if market stays above 32813. Targets are 33203 and 33594.

E-Mini S&P 500

Stocks fell sharply Monday, pushing the S&P 500 to breach the 4,000 level for the first time in more than a year as the market sell-off continued.

The S&P 500 fell 3.2% to settle at 3,991.24

The benchmark 10-year Treasury note yield hit its highest level since late 2018, trading well above 3%.

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Plan A: Short if market failed to support above 4014. Targets are 4001 and 3989. 

Plan B: Long only if market supported firm above 4014. Targets are 4024 and 4037.

E-Mini Nasdaq

U.S. stock futures swung between positive and negative territory on Monday night after the S&P 500 fell to its lowest level in more than a year.

Nasdaq Composite lost 4.29% to 11,623.25.

Those moves came as inflation fears continued to hit markets on all sides. Tech stocks especially took a beating. Shares for Meta Platforms and Alphabet fell 3.7% and 2.8%, respectively. Shares for Tesla dropped more than 9%.

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Plan A: Short if market failed to support above 12330. Targets are 12367 and 12398

Plan B: Long if market supported firm above 12330. Targets are 12302 and 12276.

HSI

Hong Kong was closed on holiday. Asian stock markets fell back Monday as traders weighed mainland China's expanding lockdowns to combat the COVID-19 pandemic.

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Plan A: Remain short if the market stays below 20313. Targets are 19375 and 19063.

Plan B: Consider long only if the market stays above 20313 and rebound. Targets are 20625 and 20938.

WTI Crude

Oil prices sank about 6% on Monday alongside equities, as continued coronavirus lockdowns in China, the top oil importer, fed worries about the demand outlook.

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Plan A: Remain short as long as oil price stays below 106.25. Targets are 101.56 and 100.

Plan B: Consider long only if oil price stays above 101.56 and rebound. Targets are 103.13 and 104.69.

Gold

Gold prices extended their retreat to fall more than 1% on Monday as the dollar hovered near two-decade highs, dimming the metal's appeal.

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Plan A: Remain short as long as gold price stays below 1867.2. Targets are 1851.6 and 1843.8.

Plan B: Attempts long only if gold price stays above 1843.8 and rebound. Targets are 1851.6 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.