24 Aug 2022 Foreign

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

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E-Mini Dow

US stocks ended lower to flat as a decline in new home sales pressured sentiment.

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Plan A: Remain short as long as market trades below 33398. Targets are 32813 and 32422.

Plan B: Consider long if market stays above 33398. Targets are 33594 and 33789.

E-Mini S&P 500

Stocks fell Tuesday following its worst day since June as investors braced for a hawkish message from the Federal Reserve.

The S&P 500 fell 0.22% to 4,128.73.

Traders are coming off a downbeat session, as a summer rally fizzled out amid mounting rate hike concerns, and as the 10-year Treasury yield climbed above 3%.

Investors are underestimating inflation, growing recession risks, and earnings expectations that will have to come down at some point.

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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 fell in early Wednesday morning as investors await more guidance from Federal Reserve Chairman Jerome Powell on the central bank’s tightening path.

Nasdaq Composite dipped slightly 0.002% to 12,381.30.

Federal Reserve bank of Minneapolis President Neel Kashkari says his biggest fear is that markets are underestimating how high inflation will go or how persistent it would be, adding that the Fed might need to be more aggressive than anticipated.

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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 evenly but declined in trading, finishing down 0.8% as traders weighed the global equities slump and the pandemic and property outlooks in China.

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Plan A: Remain long if the market stays above 19375. Targets are 19609 and 19766.

Plan B: Consider short only if the market stays below 19688. Targets are 19453 and 19375.

WTI Crude

Oil prices surged by nearly 4% on Tuesday after Saudi Arabia floated the idea of OPEC+ output cuts to support prices in the case of returning Iranian crude and with the prospect of a drop in U.S. inventories.

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Plan A: Remain long as long as oil price stays above 90.63. Targets are 93.75 and 95.31.

Plan B: Consider short only if oil price stays below 89.84. Targets are 89.06 and 87.50.

Gold

Gold closed higher for the first time in seven sessions on Tuesday as the US dollar eased ahead of the Friday keynote speech from Federal Reserve chair Jerome Powell at the central bank's annual conference.

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Plan A: Remain long as long as gold price stays above 1750 Targets are 1765.6 and 1773.4.

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

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.