23 Aug 2022 Foreign

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

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E-Mini Dow

US stocks started the week in negative territory as investors continue to fear the possibility of another big interest rate hike.

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Plan A: Remain short as long as market trades below 33496. Targets are 33008 and 32813.

Plan B: Consider long if market stays above 33496. Targets are 33789 and 33887.

E-Mini S&P 500

The Dow Jones Industrial Average fell sharply Monday, in its worst day since June, as the summer rally fizzled out and fears of aggressive interest rate hikes returned to Wall Street.

The S&P 500 dropped 2.14% to 4,137.99.

Those losses come on the back of a losing week, which snapped a four-week winning streak for the S&P 500. Still, the broader market index remains about 13% above its June lows.

Investors are anticipating what could be a volatile week of trading ahead of Federal Reserve 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 4120. Targets are 4115 and 4002.

Plan B : Long if market supported above 4120. Targets are 4139 and 4147.

E-Mini Nasdaq

Stock futures inched higher early morning Tuesday after stocks finished their worst day since June and Wall Street’s summer rally faded amid mounting rate hike concerns.

Nasdaq Composite tumbled 2.55% to 12,381.57.

Zoom slumped in extended trading after lowering its full-year forecast, while Palo Alto Networks surged after posting strong quarterly results.

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Plan A : Short if market failed to support above 12827. Targets are 12795 and 12763.

Plan B : Long if market supported firm above 12827. Targets are 12851 and 13890.

HSI

The Hong Kong Hang Seng Index opened lower, rallied midday in the wake of China central-bank rate cuts, but fell back on concerns that the pandemic and energy shortages will undercut the world's second-biggest economy. The Hang Seng closed down 0.6% as a heat wave and drought scorched China, and some factories reported power shortages.

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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 bounced off session lows to trade nearly flat in a volatile session on Monday as markets weighed Saudi Arabia's warning that OPEC+ production could cut output against the possibility of a nuclear deal that could return sanctioned Iranian oil to the market.

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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 fell to near a one-month low on Monday amid sharp declines in precious metals due to a stronger dollar, with looming Federal Reserve interest rate hikes also denting bullion's appeal.

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Plan A: Remain short as long as gold price stays below 1773.4 Targets are 1742.2 and 1734.4.

Plan B: Attempts long only if gold price stays above 1765.6. Targets are 1773.4 and 1781.3.

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.