Wednesday, June 29, 2022

30 Jun 2022 Foreign


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


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E-Mini Dow

Wall Street wavered on Wednesday as investors limped toward the finish line of a downbeat month, a dismal quarter, and the worst first-half for the S&P 500 since President Richard Nixon's first term.

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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
Stocks fluctuated on Wednesday, after the major averages made a failed attempt at a bounce in the previous session, and as the market prepares to close out the worst first half of the year since 1970.

The S&P 500 slipped 0.07% to 3,818.83.

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

On Wednesday, Federal Reserve Bank of Cleveland President Loretta Mester said she will advocate for a 75 basis point hike to interest rates at the central bank’s July meeting if economic conditions remain the same by then.

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Plan A: Short if market failed to support above 3783. Targets are 3772 and 3760.  

Plan B: Long only if market supported firm above 3783. Targets are 3790 and 3802.





E-Mini Nasdaq

U.S. stock index futures were declined early on Thursday morning, as the S&P 500 prepares to wrap its worst first half in decades.

Nasdaq Composite inched lower by 0.03% to 11,177.89.

The Federal Reserve has taken aggressive action to try and bring down rampant inflation, which has surged to a 40-year high.

Weekly jobless claims will be in focus Thursday. Economists surveyed by Dow Jones are expecting 230,000 first-time filers. Personal income and spending data will also be released.

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Plan A: Short if market failed to support above 11539. Targets are 11501 and 11474.

Plan B: Long if market supported firm above 11539. Targets are 11563 and 11605.



HSI
The Hong Kong Hang Seng Index opened lower and declined to the close, finishing off 1.9% as the tech-sector again faltered. Property issues were nearly stable.

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Plan A: Remain short if the market stays below 22188. Targets are 21719 and 21563.

Plan B: Consider long only if the market stays above 21719. Targets are 22031 and 22344.



WTI Crude
Oil prices slid about 2% on Wednesday as a rise in U.S. gasoline and distillate inventories and worries about slower economic growth around the world offset ongoing concerns about tight crude supplies.

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Plan A: Remain short as long as oil price stays below 110.94. Targets are 109.38 and 107.81.

Plan B: Consider long only if oil price stays above 110.94. Targets are 112.5 and 114.06.



Gold
Gold prices see-sawed on Wednesday, caught between headwinds from aggressive interest rate hikes and support from safe-haven bids spurred by growing recession risks.
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Plan A: Remain short as long as gold price stays below 1832. 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. 

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