13 May 2022 Foreign

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

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E-Mini Dow

U.S. stocks ended a whipsaw session slightly lower on Thursday, as investors juggled signs of peaking inflation with fears that it could remain elevated, prompting ever more aggressive tightening from the Federal Reserve.

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Plan A: Remain long as long as market trades above 31250. Targets are 31836 and 32227.

Plan B: Consider short if market stays below 32031. Targets are 31641 and 31250.

E-Mini S&P 500

Stock futures were higher early Friday morning as investors geared up for the S&P 500 to potentially slide into official bear market territory.

The S&P 500 slipped 1.65% to 3,935.18.

April’s consumer price index showed an 8.3% jump, higher than the 8.1% increase expected by economists polled by Dow Jones. The price surge remained near the 40-year high pace of 8.5% seen in March.

The 10-year Treasury yield briefly jumped back above the 3% mark but traded down and settled at 2.93%.

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Plan A: Short if market failed to support above 3924. Targets are 3913 and 3907. 

Plan B: Long only if market supported firm above 3924. Targets are 3936 and 3942.

E-Mini Nasdaq

Though stocks enjoyed a two-week rally after the Fed’s first rate hike in March, those gains were quickly erased by a brutal April and the selling has continued in May. There are some signs, such as investor sentiment surveys and some stabilization in the Treasury market this week, that the market could be near, but many investors and strategists say the market may need to take another sizable step down.

Nasdaq Composite dropped 3.18% to close at 11,364.24.

The Nasdaq squeaked out a gain of less than 0.1% on Wednesday, but the tech-heavy index is already in a bear market, down more than 29% from its all-time high.

Though stocks enjoyed a two-week rally after the Fed’s first rate hike in March, those gains were quickly erased by a brutal April and the selling has continued in May. There are some signs, such as investor sentiment surveys and some stabilization in the Treasury market this week, that the market could be near, but many investors and strategists say the market may need to take another sizable step down.

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Plan A: Short if market failed to support above 12086. Targets are 12054 and 12028.

Plan B: Long if market supported firm above 12086. Targets are 12117 and 12149.

HSI

Hong Kong's Hang Seng Index opened lower and lost ground to the close, finishing off 2.2% after the US inflation report. Property and tech issues resumed declines.

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Plan A: Remain short if the market stays below 19688. Targets are 19063 and 18750.

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

WTI Crude

Oil prices settled mixed on Thursday as supply concerns and geopolitical tension in Europe got the upper hand over the economic fears dogging financial markets as inflation soars.

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Plan A: Remain long as long as oil price stays above 104.69. Targets are 107.81 and 109.38.

Plan B: Consider short only if oil price stays below 101.56. Targets are 100 and 98.44.

Gold

Gold and other precious metals dropped on Thursday, with palladium shedding more than 8%, as investors flocked to the dollar driven by bets the U.S. Federal Reserve will stick to aggressive rate hikes.

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Plan A: Remain short as long as gold price stays below 1851.6. Targets are 1812.5 and 1804.7.

Plan B: Attempts long only if gold price stays above 1812.5 and rebound. Targets are 1828.1 and 1843.8.

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.