22 Aug 2022 Foreign

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

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E-Mini Dow

U.S. stocks fell on Friday in a broad selloff led by megacaps as U.S. bond yields rose, with the S&P 500 posting losses for the week after four straight weeks of gains.

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Plan A: Remain short as long as market trades below 33984. Targets are 33594 and 33398.

Plan B: Consider long if market stays above 33984. Targets are 34082 and 34277.

E-Mini S&P 500

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.

The central bank said it remains committed to fighting inflation, but indicated it could adjust its pace of tightening based on market conditions. Investors had hoped the Fed might slow the pace of its rate hikes after July’s better-than-expected consumer price index.

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Plan A : Short if market failed to support above 4202. Targets are 4192 and 4183.

Plan B : Long if market supported above 4202. Targets are 4219 and 4238.

E-Mini Nasdaq

U.S. stock futures fell on Monday morning following a halt in the summer rally last week, as fears of aggressive interest rate hikes returned to Wall Street.

Those moves come ahead of what could be a volatile week of trading on Wall Street. Investors are anticipating Fed Chairman Jerome Powell’s latest comments on inflation at the central bank’s annual Jackson Hole economic symposium.

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Plan A : Short if market failed to support above 13140. Targets are 13118 and 13084.

Plan B : Long if market supported firm above 13140. Targets are 13175 and 13207.

HSI

The Hong Kong Hang Seng Index finished up 0.1% as traders bought into property issues ahead of possible interest-rate cuts by major lenders in China. Ongoing COVID-19 outbreaks and a business-suppressing heat wave in China capped the upside.

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Plan A: Remain short if the market stays below 19844. Targets are 19531 and 19375.

Plan B: Consider long only if the market stays above 19688. Targets are 19844 and 20000.

WTI Crude

Oil prices steadied on Friday, but fell for the week on a stronger U.S. dollar and fears that an economic slowdown would weaken crude demand.

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Plan A: Remain long as long as oil price stays above 89.06. 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 slipped for a fifth consecutive session on Friday, in its longest losing run since November last year, as the bullion's appeal waned with a stronger dollar and more U.S. interest rate hikes on the horizon.

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Plan A: Remain short as long as gold price stays below 1777.3 Targets are 1757.8 and 1750.

Plan B: Attempts long only if gold price stays above 1777.3. Targets are 1785.2 and 1789.1.

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.