14 Sep 2022 Foreign

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

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E-Mini Dow

A broad sell-off sent U.S. stocks reeling on Tuesday after a hotter-than-expected inflation report dashed hopes that the Federal Reserve could relent and scale back its policy tightening in the coming months.

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Plan A: Remain short as long as market trades below 31640. Targets are 30859 and 30468.

Plan B: Consider long if market stays above 31640. Targets are 31835 and 32031.

E-Mini S&P 500

Stocks fell sharply on Tuesday after a key August inflation report came in hotter than expected, hurting investor optimism for cooling prices and a less aggressive Federal Reserve.

The S&P 500 dropped 4.32% to 3,932.69.

The drop erased nearly all of the recent rally for stocks, pulling the S&P 500 back toward its Sept. 6 close of 3,908 and causing some traders to glance back at mid-June, when the index fell below 3,700.

The August consumer price index report showed a higher-than-expected reading for inflation. Headline inflation rose 0.1% month over month, even with falling gas prices. Core inflation rose 0.6% month over month. On a year-over-year basis, inflation was 8.3%.

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Plan A : Short if market failed to support above 3939. Targets are 3925 and 3903.

Plan B : Long if market supported above 3939. Targets are 3948 and 3961.

E-Mini Nasdaq

The Dow Jones Industrial Average slid 1,276.37 points, or 3.94%, to close at 31,104.97.

The Nasdaq Composite sank 5.16% to end the day at 11,633.57.

Just five stocks in the S&P 500 finished in positive territory. Tech stocks were hit particularly hard, with Facebook-parent Meta skidding 9.4% and chip giant Nvidia shedding 9.5%.

Economists surveyed by Dow Jones had been expecting a decline of 0.1% for overall inflation, with a rise of 0.3% for core inflation.

The report is one of the last the Fed will see ahead of their Sept. 20-21 meeting, where the central bank is expected to deliver its third consecutive 0.75 percentage point interest rate hike to tamp down inflation. The unexpectedly high August report could lead the Fed to continue its aggressive hikes longer than some investors anticipated.

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Plan A : Short if market failed to support above 12063. Targets are 12038 and 12007.

Plan B : Long if market supported firm above 12063. Targets are 12099 and 12136.

HSI

Asian stocks advanced on Tuesday and the dollar steadied below a recent peak ahead of U.S. inflation data that some strategists said could offer another signal that inflation has peaked.

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Plan A: Remain short if the market stays above 19141. Targets are 18828 and 18672.

Plan B: Consider long only if the market stays above 19063. Targets are 19141 and 19219.

WTI Crude

Oil prices ended nearly 1% lower on Tuesday, reversing earlier gains as U.S. consumer prices unexpectedly rose in August, giving cover for the U.S. Federal Reserve to deliver another hefty interest rate increase next week.

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Plan A: Remain short as long as oil price stays above 86.72. Targets are 88.28 and 89.06.

Plan B: Consider short only if oil price stays below 85.16. Targets are 84.38 and 82.81.

Gold

Gold prices fell more than 1% as the dollar jumped after an unexpected rise in August consumer prices cemented bets for aggressive rate hikes from the U.S. Federal Reserve.

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Plan A: Remain short as long as gold price stays below 1726.6 Targets are 1710.9 and 1703.1.

Plan B: Attempts long only if gold price stays above 1726.6. Targets are 1734.4 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.