Tuesday, June 7, 2022

8 Jun 2022 Foreign


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

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E-Mini Dow

U.S. stocks rallied late on Tuesday to end higher for a second straight day as technology and energy shares gained, while Target Corp's warning about excess inventory weighed on retail stocks for much of the session.

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Plan A: Remain long as long as market trades above 32910. Targets are 33203 and 33398.

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



E-Mini S&P 500
Stocks rose for a second straight session on Tuesday even after Target issued a warning about its current quarter’s profits, which put pressure on the broader retail sector.

The S&P 500 rose 0.95% to 4,160.68.

Equities may have been helped by developments in the bond market on Tuesday, as the benchmark 10-year Treasury yield retreated back below 3%.

Concerns about the macro economy may be limiting the recent gains for stocks. The Atlanta Federal Reserve’s GDPNow tracker showed a growth rate of just 0.9% for the second quarter on Tuesday, down from 1.3% last week. The World Bank cut its global growth forecast to 2.9%.

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Plan A: Long only if market supported firm above 4142. Targets are 4154 and 4169.  

Plan B: Short if market failed to support above 4142. Targets are 4136 and 4122.



E-Mini Nasdaq

Stock futures fell marginally in early morning trading Wednesday after two consecutive days of gains on Wall Street.

Nasdaq Composite added 0.94% to 12,175.23.

All eyes will be on Friday’s consumer price index reading for May. Many believe the print will be crucial for the path of Fed policy and whether the central bank will keep raising rates in 50-basis-point increments.

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Plan A: Long if market supported firm above 12649. Targets are 12675 and 12710.

Plan B: Short if market failed to support above 12649. Targets are 12617 and 12582.





HSI
The Hong Kong Hang Seng Index opened lower, see-sawed, and finished down 0.6% as the Monday rally in tech shares fizzled.

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Plan A: Remain long if the market stays above 21250. Targets are 21563 and 21719.

Plan B: Consider short only if the market stays below 21094. Targets are 20938 and 20781.


WTI Crude
Oil prices gained about 1% on Tuesday, with U.S. crude settling at a 13-week high on supply concerns, including no nuclear deal with Iran, and prospects for demand growth in China, which is relaxing lockdowns to control the pandemic.

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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 rose on Tuesday as the dollar gave up some gains, while investors positioned for U.S. inflation readings later this week for cues on the Federal Reserve's interest rate hike trajectory.
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Plan A: Remain long as long as gold price stays above 1843.8. Targets are 1859.4 and 1867.2.
Plan B: Attempts short only if gold price stays below 1839.8. Targets are 1835.9 and 1830.


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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