WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stocks ended in the red on Friday, falling to two-month lows as a warning of impending global slowdown from FedEx hastened investors' flight to safety at the conclusion of a tumultuous week.
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Plan A: Remain short as long as market trades below 31250. Targets are 30469 and 30078.
Plan B: Consider long if market stays above 31250. Targets are 31641 and 32031.
E-Mini S&P 500
S&P 500 futures were slightly lower on Monday morning after the major averages posted their worst week since June and ahead of the Federal Reserve’s two-day meeting this week.
Investors are focused on the Fed’s two-day meeting, which will begin Tuesday. The central bank is expected to raise interest rates by another three-quarters of a point, though investors are also watching for guidance about corporate earnings before the next reporting season begins in October.
Beyond the Fed meeting, there are just a few economic data releases this week, including August housing starts on Tuesday and initial jobless claims on Thursday.
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Plan A : Short if market failed to support above 3856. Targets are 3840 and 3832.
Plan B : Long if market retraced but supported firm above 3856. Targets are 3862 and 3879.
E-Mini Nasdaq
Futures tied to the broad market index were down 0.21% in premarket trading. Dow Jones Industrial Average futures were 0.14% lower, while Nasdaq 100 futures fell 0.46%.
As volatility rears its head once again, investors looking for a short-term trade could opt for this ETF with a track record of outperformance in times of extreme market moves.
Strategists say the most important information investors are looking for from the Federal Reserve will be what’s on the dot plot, the Fed’s so-called interest rate forecast. After the CPI release last week, the futures market for fed funds priced a big jump higher in the terminal rate, or end point where the Fed stops hiking. It had been pricing in a 4% terminal rate by April.
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Plan A : Long if market retraced but supported firm above 11779. Targets are 11803 and 11836.
Plan B : Short only if market failed to support above 11779. Targets are 11743 and 11714.
HSI
Asian markets sold off sharply on Friday and Europe looked set to follow as investors braced for a hefty U.S. rate hike next week amid growing concerns of a global recession following warnings from the World Bank and the International Monetary Fund.
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Plan A: Remain short if the market stays below 18906. Targets are 18594 and 18438.
Plan B: Consider long only if the market stays above 18750. Targets are 18828 and 18906.
WTI Crude
Oil prices rose slightly on Friday as a spill at Iraq's Basra terminal appeared likely to constrain crude supply, but remained down on the week on fears that hefty interest rate increases will curb global economic growth and demand for fuel.
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Plan A: Remain long as long as oil price stays above 84.38. Targets are 85.94 and 87.5.
Plan B: Consider short only if oil price stays below 88.28. Targets are 84.38 and 83.59.
Gold
Gold prices eased for a fourth consecutive session on Friday to hit their lowest since April 2020, as expectations of a hefty interest rate hike from the U.S. Federal Reserve next week boosted the dollar.
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Plan A: Remain short as long as gold price stays below 1703.3 Targets are 1671.9 and 1656.3.
Plan B: Attempts long only if gold price stays above 1671.9. Targets are 1687.5 and 1703.3.
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.
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