11 May 2022 Foreign

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

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E-Mini Dow

U.S. stock indexes ended mixed in volatile trading on Tuesday, a day before consumer price data will give the latest glimpse into whether the worst of soaring inflation may be behind us.

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Plan A: Remain short as long as market trades below 32422. Targets are 31641 and 31250.

Plan B: Consider long if market stays above 31641 and rebound. Targets are 32422 and 32813.

E-Mini S&P 500

U.S. stocks seesawed Tuesday and the Dow slipped for a fourth day as the major averages struggled to bounce back from a bout of heavy selling.

The S&P 500 inched 0.25% higher to 4,001.05.

Treasury yields eased from multiyear highs and the benchmark 10-year Treasury note yield traded below 3% after hitting its highest level since late 2018 on Monday.

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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

Stock futures were higher in early morning trading Wednesday ahead of a key inflation reading.

Nasdaq Composite gained 0.98% to close at 11,737.67.

Investors are awaiting the release of April’s consumer price index Wednesday morning for the latest temperature check on inflation. Rising prices have been front-of-mind, particularly as the Federal Reserve is hiking interest rates and trimming its balance sheet to address inflation.

Economists expect the CPI to rise 0.2% from the month prior and 8.1% year over year, according to the Dow Jones consensus estimate. That compares with March’s 8.5% year-over-year pace.

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Plan A: Short if market failed to support above 12429. Targets are 12392 and 12361

Plan B: Long if market supported firm above 12429. Targets are 12458 and 12483.

HSI

The Hong Kong Hang Seng Index opened lower after a three-day weekend and also could not recover, finishing off 1.8%. Property and tech issues led the decline.

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Plan A: Remain short if the market stays below 20000. Targets are 19375 and 19063.

Plan B: Consider long only if the market stays above 19063 and rebound. Targets are 19375 and 19688.

WTI Crude

U.S. crude oil price settled below $100 a barrel on Tuesday to its lowest level in two weeks as the demand outlook was pressured by coronavirus lockdowns in China and growing recession risks, while a strong dollar made crude more expensive for buyers using other currencies.

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Plan A: Remain short as long as oil price stays below 104.69. Targets are 98.44 and 96.88.

Plan B: Consider long only if oil price stays above 98.44 and rebound. Targets are 100 and 101.56.

Gold

Gold prices reversed course and fell on Tuesday as the dollar resumed strengthening, while investors shifted their attention to U.S. inflation data for cues on the Federal Reserve's monetary policy strategy.

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Plan A: Remain short as long as gold price stays below 1859.4. Targets are 1828.1 and 1812.5.

Plan B: Attempts long only if gold price stays above 1828.1 and rebound. Targets are 1843.8 and 1851.6.

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.