2 Sep 2022 Foreign

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

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E-Mini Dow

US stocks ended the first session of September mixed while two-year government bond yields touched a 15-year high as initial jobless claims fell for the third week in a row.

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Plan A: Remain short as long as market trades below 31836. Targets are 31250 and 30859.

Plan B: Consider long if market stays above 31836. Targets are 32031 and 32227.

E-Mini S&P 500

The Dow Jones Industrial Average and the S&P 500 ended the first day of September on a high note as traders looked forward to the jobs report Friday.

The S&P 500 rallied 0.3% to 3,966.85.

The moves came as the 2-year U.S. Treasury yield topped 3.5%, the highest level since November 2007, on Thursday. That weighed on rate-sensitive growth stocks, making their future profits less attractive.

Stocks have been in a slump as investors respond to hawkish comments from Fed officials who show no signs of easing up on interest rate hikes. Traders have been debating whether stocks will again challenge the June lows in September, a historically poor month for markets.

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Plan A : Short if market failed to support above 3969. Targets are 3952 and 3939.

Plan B : Long if market supported above 3969. Targets are 3972 and 3988.

E-Mini Nasdaq

U.S. stock futures were flat Friday morning as investors await a key jobs report for August due Friday that will give more information about the state of the economy.

The Nasdaq Composite fell about 0.3%, to 11,785.13, to post its first five-day losing streak since February. It still came back from deeper losses earlier in the session.

All three major averages are set to end the week lower after slumping in the last days of August, on course to notch their third negative week in a row. Stocks have been weighed down by hawkish comments from Federal Reserve officials signaling that interest rate hikes aren’t going away anytime soon. Now, traders are watching to see if stocks will retest the June lows, especially since September is historically a poor month for the market.

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Plan A : Short if market failed to support above 12294. Targets are 12261 and 12230.

Plan B : Long if market supported firm above 12294. Targets are 12325 and 12357.

HSI

Asian stocks slid and the dollar spiked on Thursday as investors greeted September by selling everything that was not nailed down after a month battered by concerns about aggressive rate hikes from global policymakers.

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Plan A: Remain short if the market stays below 19844. Targets are 19375 and 19219.

Plan B: Consider long only if the market stays above 19844. Targets are 20000 and 20156.

WTI Crude

Oil prices tumbled more than 3% on Thursday, as new COVID-19 lockdown measures in China added to worries that high inflation and interest rate hikes are denting fuel demand.

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Plan A: Remain short as long as oil price stays below 90.63. Targets are 85.94 and 84.38.

Plan B: Consider long only if oil price stays above 90.63. Targets are 92.19 and 95.31.

Gold

Gold prices fell below the key $1,700 level on Thursday for the first time since July, as a rising dollar and expectations for aggressive interest rate hikes eroded its appeal.

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Plan A: Remain short as long as gold price stays below 1726.6 Targets are 1695.3 and 1687.5.

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.