WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Major Wall Street indexes ended lower on Thursday, falling for a third straight session as investors reacted to the Federal Reserve's latest aggressive move to rein in inflation by selling growth stocks, including technology companies.
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Plan A: Remain short as long as market trades below 30664. Targets are 30078 and 29883.
Plan B: Consider long if market stays above 30664. Targets are 30859 and 31055.
E-Mini S&P 500
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Stock futures were lower on Friday morning as investors continued reacting to the Fed’s rate hike and concerns over a potential economic downswing.
he S&P 500 fell 0.8% to 3,757.99, while the Dow Jones Industrial Average ended the day 107.10 points lower at 30,076.68, which is a loss of 0.3%.
Bond yields also continued their upward ascent, with the 2-year and 10-year Treasury notes hitting highs not seen in more than a decade.
Short-term, relatively risk-free Treasury bonds and funds are back in the spotlight as the yield on the 2-year Treasury continues to surge.
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Plan A : Short if market failed to support above 3750. Targets are 3742 and 3739.
Plan B : Long if market retraced but supported firm above 3750. Targets are 3773 and 3789.
E-Mini Nasdaq
Thursday brought another day of losses as the market remains poised to end the week below where it started. The Nasdaq Composite decreased 1.4% to 11,066.81.
Stock futures were flat after another tumultuous day, as investors continue grappling with the Federal Reserve’s decision to up rates and worries about the health of the economy.
Lesko said more investors are starting to accept that a recession may be on the horizon after the Fed’s decision this week to hike rates by 75 basis points and FedEx CEO Raj Subramaniam saying on CNBC last week that he believed one was imminent. Once that happens, Lesko said investors will react differently.
Stock futures were flat after another tumultuous day, as investors continue grappling with the Federal Reserve’s decision to up rates and worries about the health of the economy.
Lesko said more investors are starting to accept that a recession may be on the horizon after the Fed’s decision this week to hike rates by 75 basis points and FedEx CEO Raj Subramaniam saying on CNBC last week that he believed one was imminent. Once that happens, Lesko said investors will react differently.
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Plan A : Short only if market failed to support above 11478. Targets are 11442 and 11410.
Plan B : Long if market retraced but supported firm above 11478. Targets are 11506 and 11548.
HSI
Asian stock markets followed Wall Street lower on Thursday after the Federal Reserve delivered another big interest rate hike to cool galloping inflation and raised its outlook for more.
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Plan A: Remain short if the market stays below 18438. Targets are 18047 and 17969.
Plan B: Consider long only if the market stays above 18125. Targets are 18281 and 18438.
WTI Crude
Oil settled nearly 1% higher on Thursday, paring earlier gains as the market focused on Russian oil supply concerns, rebounding Chinese demand, and as the Bank of England hiked interest rates less than some had expected.
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Plan A: Remain long as long as oil price stays above 83.20. Targets are 84.38 and 85.94.
Plan B: Consider short only if oil price stays below 84.38. Targets are 83.20 and 82.03.
Gold
Gold prices edged lower in choppy trading on Thursday, pressured by a stronger dollar and higher Treasury yields, while the U.S. Federal Reserve's hawkish policy stance clouded the outlook for the non-yielding bullion.
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Plan A: Remain long as long as gold price stays above 1671.9 Targets are 1687.5 and 1699.2.
Plan B: Attempts short only if gold price stays below 1683.6. Targets are 1671.9 and 1664.1.
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