Monday, June 6, 2022

7 Jun 2022 Foreign


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

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E-Mini Dow

U.S. stocks ended a choppy session slightly higher on Monday, helped by gains in Amazon.com and other mega-cap growth shares, while persistent worries over inflation and interest rates kept a lid on the market.

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Plan A: Remain short as long as market trades below 33008. Targets are 32715 and 32422.

Plan B: Consider long if market stays above 32500. Targets are 32813 and 33008.



E-Mini S&P 500
Stocks moved slightly higher on Monday as Wall Street tried to rebound from a losing week and navigated a jump in Treasury yields.

S&P 500 gained 0.31%.

The market gave up some of its gains as the day progressed and the 10-year Treasury yield pushed above 3%.

Investors have been grappling with fears that the central bank could raise interest rates too fast and too much, causing a recession. Recent statements from the policy-setting Federal Reserve members indicate that 50 basis point — or a half-percentage-point — rate increases are likely at the June and July meetings.

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Plan A: Short if market failed to support above 4098. Targets are 4083 and 4071.

Plan B: Long only if market supported firm above 4098. Targets are 4110 and 4118. 



E-Mini Nasdaq

Stock futures declined early Tuesday morning after a sleepy day of trading as investors await key inflation data due out later in the week.

The tech-heavy Nasdaq Composite rose 0.40%

Investors will be focused on the consumer price index reading for May, which is slated for release on Friday morning. The key inflation gauge is expected to be just slightly cooler than April, which could be interpreted by some as a confirmation that inflation has peaked.

The U.S. economy added 390,000 jobs in May, the Labor Department said Friday, which came in better than expected despite fears of an economic slowdown and amid the roaring pace of inflation. Some investors believe the strong hiring data could be clearing the way for the Fed to remain aggressive.

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Plan A: Short if market failed to support above 12501. Targets are 12478 and 13447.

Plan B: 
Long if market supported firm above 12501. Targets are 12534 and 12560.




HSI
Hong Kong's Hang Seng Index opened evenly and gained through the day, finishing up 2.7%. Tech issues led the market higher.

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Plan A: Remain long if the market stays above 21250. Targets are 21719 and 22031.

Plan B: Consider short only if the market stays below 21094. Targets are 20938 and 20625.


WTI Crude
Oil prices settled slightly lower after choppy trade on Monday, buoyed by Saudi Arabia raising its July crude prices but amid doubts that a higher output target for OPEC+ oil producers would ease tight supply.

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Plan A: Remain long as long as oil price stays above 117.19. Targets are 120.31 and 123.44.

Plan B: Consider short only if oil price stays below 115.63. Targets are 114.06 and 112.50.



Gold
Gold prices fell on Monday, pressured by an uptick in the U.S. dollar and Treasury yields, as attention turned to U.S. inflation data this week that could strengthen the case for aggressive interest rate hikes by the Federal Reserve.
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Plan A: Remain short as long as gold price stays below 1859.4. Targets are 1835.9 and 1820.3.
Plan B: Attempts long only if gold price stays above 1851.6. Targets are 1859.4 and 1875.


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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