29 Jun 2022 Foreign

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

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E-Mini Dow

US stocks ended deep in negative territory despite opening the session higher as a consumer confidence gauge for June sank amid rising inflation concerns.

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Plan A: Remain short as long as market trades below 31055. Targets are 30859 and 30664.

Plan B: Consider long if market stays above 31250. Targets are 31445 and 31641.

E-Mini S&P 500

U.S. stocks fell on Tuesday, erasing earlier gains as the market failed to keep its rebound from the bear-market lows going.

The S&P 500 dropped 2.01% to 3,821.55.

The consumer confidence index fell to a reading of 98.7, down from 103.2 in May and missing a Dow Jones estimate of 100, according to The Conference Board. The weak data came as fears of a recession have increased lately as the Federal Reserve tries to combat surging inflation with aggressive rate hikes.

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Plan A: Short if market failed to support above 3817. Targets are 3806 and 3792.  

Plan B: Long only if market supported firm above 3817. Targets are 3823 and 3836.

E-Mini Nasdaq

Stock futures were flat early on Wednesday after the major averages made a failed attempt at a bounce.

Nasdaq Composite was the laggard, down 3% to 11,181.54.

As the second quarter comes to an end on Thursday, there are rising recession fears. Concern over a slowing economy and aggressive rate hikes consumed much of the first half of 2022 as investors continue to search for a bottom to a vicious market sell-off.

Beaten-up chip stocks Nvidia and Advanced Micro Devices ended the day more than 6% lower while big technology names including Netflix, Amazon and Meta Platforms closed down about 5% each.

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Plan A: Short if market failed to support above 11648. Targets are 11615 and 11587.

Plan B: Long if market supported firm above 11648. Targets are 11674 and 11703.

HSI

Hong Kong's Hang Seng Index opened lower but rose to the close, finishing up 0.9% as authorities in mainland China again eased certain anti-pandemic restrictions. Casino issues paced winners.

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Plan A: Remain short if the market stays below 22500. Targets are 21875 and 21563.

Plan B: Consider long only if the market stays above 21719. Targets are 22188 and 22344.

WTI Crude

Oil prices settled higher for a third day on Tuesday as major producers Saudi Arabia and the United Arab Emirates looked unlikely to be able to boost output significantly while Western governments agreed to explore ways to cap the price of Russian oil.

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Plan A: Remain long as long as oil price stays above 109.38. Targets are 112.50 and 114.06.

Plan B: Consider short only if oil price stays below 109.38. Targets are 107.81 and 106.25.

Gold

Gold prices were hemmed in a tight range on Tuesday as prospects of higher interest rates challenged bullion's safe-haven appeal while recession risks boosted it.

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Plan A: Remain short as long as gold price stays below 1828.1. Targets are 1816.4 and 1812.5.

Plan B: Attempts long only if gold price stays above 1832. Targets are 1839.8 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.