12 Jul 2022 Foreign

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

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E-Mini Dow

U.S. stocks lost ground on Monday as a lack of catalysts left market participants warily embarking on a week back-end loaded with crucial inflation data and the unofficial beginning to second-quarter earnings season.

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Plan A: Remain short as long as market trades below 31250. Targets are 31055 and 30957.

Plan B: Consider long if market stays above 31250. Targets are 31348 and 31445.

E-Mini S&P 500

U.S. equities fell Monday as Wall Street braced for big company earnings reports slated for later in the week which could signal how inflation is impacting businesses.

The S&P 500 fell 1.15% to 3,854.43.

The 2-year Treasury yield hovered above its 10-year counterpart, an inversion many see as a recession indicator. The 2-year rate on Monday traded at 3.07%, while the 10-year stood at 2.99%.

Investors are also looking ahead to the release of June’s consumer price index on Wednesday. It is expected to show headline inflation, including food and energy, rising above May’s 8.6% level to 8.8%, according to Dow Jones estimates.

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Plan A: Long if market supported firm above 3843. Targets are 3859 and 3970. 

Plan B: Short if market failed to support above 3843. Targets are 3831 and 3828.

E-Mini Nasdaq

U.S. stock futures fell early on Tuesday as Wall Street looks ahead to what many expect will be the start of a volatile second quarter earnings season this week.

Nasdaq Composite lost 2.26% to 11,372.60.

Those moves come as investors prepare for companies to start reporting their latest results. Market participants will watch for downside risk to earnings forecasts as companies grapple with rising interest rates and greater inflationary pressures, and as Wall Street debates the likelihood of a recession.

Market participants will carefully assess June’s consumer price index report on Wednesday. The headline inflation number, including food and energy, is expected to rise to 8.8% from May’s level of 8.6%, according to estimates from Dow Jones.

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Plan A: Long if market supported firm above 11794. Targets are 12826 and 11853.

Plan B : Short if market failed to support above 11794. Targets are 11856 and 11827.

HSI

Hong Kong Hang Seng Index opened lower and sank to the close, finishing off 2.8% on renewed outbreaks of the COVID-19 virus in the Chinese cities of Shanghai and Macau, triggering the closure of casinos in the latter locale. Property and tech issues declined sharply.

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Plan A: Remain short if the market stays below 21250. Targets are 20938 and 20781.

Plan B: Consider long only if the market stays above 21250. Targets are 21406 and 21563.

WTI Crude

Oil prices were little changed on Monday as markets balanced an expected drop in demand due to mass testing for COVID-19 in China against ongoing concerns over tight supply.

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Plan A: Remain long as long as oil price stays above 101.56. Targets are 103.13 and 104.69.

Plan B: Consider short only if oil price stays below 100. Targets are 98.44 and 96.88.

Gold

Gold fell to an eight-month low on Monday as the US dollar rose to a fresh 20-year high ahead of fresh inflation data coming Wednesday that is expected to show yet another rise in prices.

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Plan A: Remain short as long as gold price stays below 1746.1. Targets are 1730.5 and 1726.6.

Plan B: Attempts long only if gold price stays above 1750. Targets are 1753.9 and 1757.8.

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.