29 Aug 2022 Foreign

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

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E-Mini Dow

Wall Street ended Friday with all three benchmarks more than 3% lower, as Federal Reserve Chief Jerome Powell's signal that the central bank would keep hiking rates to tame inflation nixed nascent hopes for a more modest path among some investors.

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Plan A: Remain short as long as market trades below 32617. Targets are 32031 and 31641.

Plan B: Consider long if market stays above 32617. Targets are 32813 and 33008.

E-Mini S&P 500

Stocks plummeted Friday after Federal Reserve Chair Jerome Powell said in his Jackson Hole speech the central bank won’t back off in its fight against rapid inflation.

The S&P 500 fell 3.37% to 4,057.66.

Powell reiterated a tough stance against inflation, spurring investors to weigh the implications of higher interest rates kept in place for a longer time.

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Plan A : Short if market failed to support above 4027. Targets are 4019 and 4005.

Plan B : Long if market supported above 4027. Targets are 4033 and 4243.

E-Mini Nasdaq

Stock futures fell on Monday morning as investors tried to shake off a sharp decline in stocks at the end of last week.

The Nasdaq Composite slid 3.94% to 12,141.71.

The moves in futures come after a brutal sell-off for Wall Street on Friday, when Federal Reserve Chairman Jerome Powell’s short and blunt remarks in Jackson Hole, Wyoming, appeared to extinguish hopes of the central bank changing its aggressive course of rate hikes in the months ahead.

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Plan A : Short if market failed to support above 12467. Targets are 12430 and 12407.

Plan B : Long if market supported firm above 12467. Targets are 12492 and 12526.

HSI

The Hong Kong Hang Seng Index pushed higher by 1% as traders moved back into property issues, and weighed a possible resolution of certain public-company auditing issues between Beijing and Washington.

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Plan A: Remain short if the market stays below 20313. Targets are 19844 and 19375.

Plan B: Consider long only if the market stays above 20000. Targets are 20313 and 20625.

WTI Crude

Oil prices ended higher on Friday, boosted by signals from Saudi Arabia that OPEC could cut output, but trading was volatile as investors digested and ultimately shrugged off warnings from the head of the U.S. Federal Reserve about economic pain ahead.

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Plan A: Remain short as long as oil price stays below 94.53. Targets are 92.19 and 90.63.

Plan B: Consider long only if oil price stays above 90.63. Targets are 93.75 and 95.31.

Gold

Gold fell over 1% on Friday after Federal Reserve Chair Jerome Powell in his speech at Jackson Hole said the U.S. economy needed a tight monetary policy until inflation was under control.

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Plan A: Remain short as long as gold price stays below 1765.6 Targets are 1746.1 and 1734.4.

Plan B: Attempts long only if gold price stays above 1757.8. Targets are 1765.6 and 1773.4.

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.