18 Jul 2022 Foreign

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

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E-Mini Dow

U.S. stocks closed sharply higher on Friday, ending several days of sell-offs with a rebound fueled by upbeat earnings, strong economic data and easing fears of a larger-than-expected interest rate hike by the Federal Reserve.

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Plan A: Remain long as long as market trades above 30859. Targets are 31250 and 31641.

Plan B: Consider short if market stays below 30469. Targets are 30273 and 30078.

E-Mini S&P 500

Stocks rallied on Friday in response to a new round of bank earnings and promising economic data as fears of a 100 basis point rate hike from the Federal Reserve to subdue rising inflation subsided.

The S&P 500 jumped 1.92% to 3,863.16.

Along with fresh bank earnings, traders digested strong preliminary consumer sentiment data and retail sales that beat expectations. Those numbers appeared to soothe concerns that the Fed will hike by 100 basis points at upcoming policy meetings and indicated that consumers are bolstering retail spending even as inflation hits record highs.

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Plan A: Long if market supported firm above 3886. Targets are 3892 and 3909. 

Plan B: Short if market failed to support above 3886. Targets are 3784 and 3779.

E-Mini Nasdaq

U.S. stock index futures were modestly higher early on Monday morning as Wall Street looks ahead to a busy week of earnings.

Inflation jumped 9.1% in June, a hotter-than-expected reading and the largest increase since 1981. That, in turn, led traders to bet that the Fed could raise rates by a full percentage point at its meeting at the end of July.

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Plan A: Long if market supported firm above 12064. Targets are 12093 and 12128.

Plan B : Short if market failed to support above 12064. Targets are 12039 and 12005.

HSI

The Hong Kong Hang Seng Index opened lower and sank to the close, finishing off 2.2% as traders balked at China's troubled property sector and avoided tech stocks.

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Plan A: Remain long if the market stays above 20000. Targets are 20625 and 20938.

Plan B: Consider short only if the market stays below 20313. Targets are 20000 and 19688.

WTI Crude

Oil gained 2.5% on Friday after a U.S. official told Reuters that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.

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Plan A: Remain long as long as oil price stays above 95.31. Targets are 98.44 and 100.

Plan B: Consider short only if oil price stays below 95.31. Targets are 93.75 and 92.19.

Gold

Gold edged lower on Friday, after earlier breaching the US$1,700 mark for the first time in 16 months even as the US dollar eased off 20-year highs.

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Plan A: Remain short as long as gold price stays below 1726.6. Targets are 1695.3 and 1687.5.

Plan B: Attempts long only if gold price stays above 1726.6. Targets are 1730.5 and 1738.3.

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.