13 Jul 2022 Foreign

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

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E-Mini Dow

Wall Street ended in negative territory on Tuesday as growing signs of recession kept buyers out of the equities market ahead of inflation data

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Plan A: Remain short as long as market trades below 31055. Targets are 30859 and 30762.

Plan B: Consider long if market stays above 31152. Targets are 31250 and 31348.

E-Mini S&P 500

U.S. stocks tumbled on Tuesday as worries over global economic growth dented investor appetite for risk assets and Wall Street braced for June inflation data.

S&P 500 slid 0.92% to 3,818.80.

Stocks dove in the final hour of trading after struggling to pick a direction throughout the day. The major indexes fluctuated between gains and losses, with the Dow up as much as 172 points and down more than 300 points.

Investors on Tuesday appeared to be shunning riskier assets such as stocks in favor of traditional safe havens such as U.S. Treasurys and the dollar. The 10-year Treasury yield fell about 1 basis point to about 2.98%.

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Plan A: Long if market supported firm above 3826. Targets are 3838 and 3949. 

Plan B: Short if market failed to support above 3826. Targets are 3817 and 3805.

E-Mini Nasdaq

Stock futures were little changed early on Wednesday as investors awaited a key inflation report that is expected to show a fresh high.

The Nasdaq Composite fell 0.95% to settle at 11,264.73.

Inflation is also on investors’ radars this week with June’s consumer price index report set for release 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.

The consumer price index, slated for at 8:30 a.m. ET Wednesday, is expected to climb by 8.8% in June on a year-over-year basis, according to Dow Jones’ survey of economists. That would be even higher than May’s 8.6% reading, which was the biggest increase since 1981.

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Plan A: Long if market supported firm above 11771. Targets are 11806 and 11834.

Plan B : Short if market failed to support above 11771. Targets are 11742 and 11713.

HSI

The Hong Kong Hang Seng Index opened lower and drifted south in trading, finishing off 1.3%, on the China pandemic outlook.

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Plan A: Remain short if the market stays below 21094. Targets are 20781 and 20625.

Plan B: Consider long only if the market stays above 21094. Targets are 21250 and 21406.

WTI Crude

West Texas Intermediate crude oil fell 7.9% to a three-month low on Tuesday as the US dollar touched fresh 20-year highs and on concerns China could enter another round of Covid-19 lockdowns, even as OPEC issued a bullish forecast for 2023 demand.

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Plan A: Remain short as long as oil price stays below 98.44. Targets are 93.75 and 92.19.

Plan B: Consider long only if oil price stays above 98.44. Targets are 100 and 101.56.

Gold

Gold closed lower on Tuesday, pushed down by another rise in the dollar and a flight to the safety of bonds.

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Plan A: Remain short as long as gold price stays below 1738.3. Targets are 1722.7 and 1714.8.

Plan B: Attempts long only if gold price stays above 1742.2. Targets are 1746.1 and 1750.

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.