11 Oct 2022 Foreign

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

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E-Mini Dow

The main U.S. stock indexes ended in the red on Monday, led by losses in technology shares and chipmakers as investors assessed U.S. efforts to hobble China's semiconductor industry and the impact of more interest rate hikes.

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Plan A: Remain short as long as market trades below 29688. Targets are 29102 and 28906.

Plan B: Consider long if market stays above 29688. Targets are 29883 and 30078.

E-Mini S&P 500

U.S. stock futures traded lower on Tuesday morning after the Nasdaq Composite closed at its lowest in two years during the regular session.

Investors weighed comments from JPMorgan CEO Jamie Dimon, who warned that the U.S. would likely fall into a recession over the next “six to nine months,” and said the S&P 500 could fall another 20% depending on whether the Federal Reserve engineers a soft or a hard landing for the economy.

The yield on the 30-year U.S. Treasury note climbed as high at 3.941%, reaching its highest level in nine years.

The 10-year yield rose to 3.963% and the 2-year yield inched higher to 4.318%. Rates fell earlier this month but started to rise again after positive economic data in the U.S. led investors to increase bets on further rate hikes by the Fed.

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Plan A : Long if market supported firm above 3612. Targets are 3628 and 3639.

Plan B : Short if market failed to support above 3612. Targets are 3605 and 3599.

E-Mini Nasdaq

Stocks closed lower Monday, with the Nasdaq Composite falling 1% following a drop in semiconductor stocks. 

While the bond market was closed, futures on the 10-year Treasury note were lower in Monday trading indicating yields will continue their march higher on Tuesday. Yields move inversely to prices. The price of 10-year Treasury futures were lower by about 0.6%. Trading volume was also lower than usual on Monday due to the Columbus Day Holiday.

September Producer Price Index data comes Wednesday and Consumer Price report is scheduled for Thursday.

The Nasdaq’s losses for the year are now greater than 32% after Monday’s decline.

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Plan A : Long if market retraced but supported firm above 10542. Targets are 10579 and 10606.

Plan B : Short only if market failed to support above 10542. Targets are 10518 and 10487.

HSI

Asian stock markets are trading mostly lower on Monday, following the broadly negative cues from global markets on Friday, after stronger than expected U.S. employment data raised grave concerns over the outlook for interest rates.

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Plan A: Remain short if the market stays below 17500. Targets are 17031 and 16875.

Plan B: Consider long only if the market stays above 17500. Targets are 17656 and 17813.

WTI Crude

Oil prices sank by nearly 2% on Monday, after five straight sessions of gains, as investors worried that economic storm clouds could foreshadow a global recession and erode fuel demand.

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Plan A: Remain short as long as oil price stays below 92.19. Targets are 89.84 and 88.28.

Plan B: Consider long only if oil price stays above 89.06. Targets are 91.41 and 92.97.

Gold

Gold prices fell more than 1% on Monday, as an elevated dollar and solidifying bets for an aggressive interest rate hike from the U.S. Federal Reserve pushed the non-yielding bullion to its lowest in a week.

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Plan A: Remain short as long as gold price stays below 1703.1. Targets are 1671.9 and 1656.3.

Plan B: Attempts long only if gold price stays above 1703.1. Targets are 1710.9 and 1718.8.

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.