31 May 2022 Foreign

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

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E-Mini Dow

Major U.S. stock indexes ended sharply higher on Friday following data suggesting U.S. inflation may be peaking while the consumer remained healthy.

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Plan A: Remain long as long as market trades above 32813. Targets are 33398 and 33594.

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

E-Mini S&P 500

S&P 500 futures rose on Monday night, as Wall Street tried to build on last week’s momentum.

The S&P 500 rose about 2.5% to 4,158.24.

A report showing inflation slowing a bit helped give stocks a boost on Friday. The core personal consumption expenditures price index rose 4.9% in April, down from the 5.2% pace seen the previous month. This particular report is watched closely by the Federal Reserve when setting policy.

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Plan A: Short if market failed to support above 4157. Targets are 4140 and 4135.

Plan B: Long only if market supported firm above 4157. Targets are 4163 and 4179. 

E-Mini Nasdaq

Investors got a reprieve from a painful sell-off as the Dow Jones Industrial Average.

The tech-heavy Nasdaq Composite was the outperformer, helped by strong earnings from software companies and a fall in the 10-year Treasury yield. It was ended the day up 3.3% to reach 12,131.13..

Tech stocks were among the top gainers Wednesday. Software company Autodesk rose 10.3% after reporting strong earnings for its most recent quarter. Dell Technologies jumped 12.8% on earnings, and chipmaker Marvell advanced 6.7%. Zscaler and Datadog were also higher Friday, up about 12.6% and 9.4%, respectively.

The 10-year Treasury yield has fallen below 2.75% from a peak that exceeded 3% this year.

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Plan A: Short if market failed to support above 12702. Targets are 12679 and 12648.

Plan B: Long if market supported firm above 12702. Targets are 12736 and 12769.

HSI

Asia markets turning in a positive performance, following the impressive New York close, and boosted by hopes that China’s Beijing and Shanghai hubs are reopening from virus restrictions and a package of stimulus measures released by the Shanghai local government.

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Plan A: Remain long if the market stays above 20625. Targets are 21094 and 21250.

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

WTI Crude

Oil prices have moved higher on low gasoline stocks in the United States, which has pushed the retail price of the fuel to records ahead of the highest demand period of the year.

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Plan A: Remain long as long as oil price stays above 112.50. Targets are 114.84 and 115.63.

Plan B: Consider short only if oil price stays below 112.50. Targets are 111.72 and 110.94.

Gold

Gold prices rose on Friday and were on track for a second consecutive weekly gain on a softer dollar, while expectations of more aggressive interest rate hikes by the U.S. Federal Reserve eased.

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Plan A: Remain short as long as gold price stays below 1863.3. Targets are 1851.6 and 1843.8.

Plan B: Attempts long only if gold price stays above 1843.8. Targets are 1859.4 and 1863.3.

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.