19 Aug 2022 Foreign

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

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E-Mini Dow

U.S. stocks ended higher Thursday as an upbeat sales forecast from Cisco Systems helped to lift the technology sector, while data showed the economy remained relatively strong.

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Plan A: Remain long as long as market trades above 33789. Targets are 34082 and 34180.

Plan B: Consider short if market stays below 33789. Targets are 33691 and 33594.

E-Mini S&P 500

The S&P 500 and Nasdaq Composite rose slightly higher Thursday as traders fought to resurrect the recent market rally that slowed earlier this week.

The S&P 500 rose 0.23% to settle at 4,283.74, while the Nasdaq inched 0.21% higher to 12,965.34. The Dow Jones Industrial Average added 0.06%, or 18.72 points, to 33,999.04.

Thursday’s move bring the Dow and S&P 500 into positive territory for the week, up 0.7% and 0.08%, respectively. The Nasdaq is down 0.63%.

More data released Thursday provided clues into the state of both the jobs and housing markets. Initial jobless claims fell to 250,000 for the week ended Aug. 13, while existing home sales dropped nearly 6% in July.

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Plan A : Long if market retraced but supported above 4254. Targets are 4270 and 4289.

Plan B : Short if market failed to support above 4254. Targets are 4235 and 4221.

E-Mini Nasdaq

Stock futures were little changed on Friday morning as the S&P 500 looked to grind out another positive week.

The three major averages closed marginally higher on Thursday, putting the Dow and S&P 500 on track for a potential winning week. The S&P 500 is up just 0.08%, but that would still be its fifth straight positive week. The Dow is up 0.71% for the week, on track for its fourth positive week in five.

The Nasdaq Composite is down 0.63% for the week.

While this week has seen relatively muted moves on Wall Street, it comes on the heels of a solid rally since mid-June.

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Plan A : Long if market supported firm above 13389. Targets are 13440 and 13492.

Plan B : Short if market failed to support above 13389. Targets are 13333 and 13278.

HSI

The Hong Kong Hang Seng Index opened evenly but declined to the close, finishing down 0.8% as traders weighed the earnings season and economy-suppressing COVID-19 outbreaks, as well as a heat wave in mainland China.

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Plan A: Remain short if the market stays below 19922. Targets are 19609 and 19531.

Plan B: Consider long only if the market stays above 20000. Targets are 20078 and 20234.

WTI Crude

Oil prices gained about 3% on Thursday as positive U.S. economic data and robust U.S. fuel consumption offset concerns that slowing economic growth in other countries could undercut demand.

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Plan A: Remain long as long as oil price stays above 87.5. Targets are 90.63 and 92.19.

Plan B: Consider short only if oil price stays below 88.28. Targets are 87.5 and 85.94.

Gold

Gold prices eased on Thursday under pressure from a firmer dollar although losses were capped by a dip in Treasury yields, while investors looked for more economic cues that could influence rate hikes.

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Plan A: Remain short as long as gold price stays below 1789.1. Targets are 1765.6 and 1750.

Plan B: Attempts long only if gold price stays above 1789.1. Targets are 1793 and 1796.9.

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.