Monday, June 20, 2022

21 Jun 2022 Foreign

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

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E-Mini Dow

Most U.S. stocks rebounded on Friday, with hopes of rising corporate profits driving optimism, but the third straight weekly loss for the Dow, S&P 500 and Nasdaq kept investors on edge as high inflation fuels fears of a recession.

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Plan A: Remain long as long as market trades above 29883. Targets are 30273 and 30469.

Plan B: Consider short if market stays below 29883. Targets are 29688 and 29492.


E-Mini S&P 500
The S&P 500 and the Nasdaq Composite bounced on Friday as Wall Street attempted to find its footing following a brutal week of selling. But all the major averages ended the week in the negative, with the S&P 500 posting its worst week since 2020.

S&P 500 gained 0.22% to close at 3,674.84.

Several key pieces of economic data fell short of forecasts this week, ranging from May retail sales to housing starts. Additionally, the Federal Reserve raised its benchmark interest rate by the most since 1994.

Consumer discretionary, communication services and information technology jumped about 1% on Friday but posted losses for the week. Energy continued its retreat, falling 5.5%.



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Plan A: Short if market failed to support above 3723. Targets are 3718 and 3702.  

Plan B: Long only if market supported firm above 3723. Targets are 3736 and 3749.




E-Mini Nasdaq

Stock futures rose in early morning trading Tuesday following a brutal week as investors assessed a more aggressive Federal Reserve and rising chances of a recession.

The Nasdaq jumped 1.43% to 10,798.35.

The major averages just suffered their 10th losing week in 11 on fears that the central bank will hike rates aggressively to tame inflation at the risk of causing an economic downturn.

Fed Chair Jerome Powell will testify before Congress Wednesday and Thursday. His appearance comes after a recent rate hike by three-quarters of a percentage point, the central bank’s biggest increase since 1994.

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Plan A: Short if market failed to support above 11422. Targets are 11390 and 11368.

Plan B: Long if market supported firm above 11422. Targets are 11459 and 11483.



HSI
Asian shares slipped on Monday and Wall Street futures eked out slight gains amid worries the U.S. Federal Reserve would this week underline its commitment to fighting inflation with whatever rate pain was required.

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Plan A: Remain long if the market stays above 20938. Targets are 21250 and 21406.

Plan B: Consider short only if the market stays below 20938. Targets are 20781 and 20625.



WTI Crude
Oil prices swung higher in volatile trading on Monday, as traders focused on tight supplies over slowing global economic growth.

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Plan A: Remain short as long as oil price stays below 112.5. Targets are 106.25 and 103.13.

Plan B: Consider long only if oil price stays above 112.5. Targets are 114.06 and 115.63.



Gold
Gold steadied into a tight range on Monday as an easing dollar and economic worries countered concerns around aggressive monetary tightening by the U.S. Federal Reserve, with the focus on several central bankers' views this week.

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Plan A: Remain long as long as gold price stays above 1835.9. Targets are 1859.4 and 1867.2.
Plan B: Attempts short only if gold price stays below 1835.9. Targets are 1828.1 and 1820.3.


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. 

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