12 Oct 2022 Foreign

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

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E-Mini Dow

US stocks turned mostly lower in another choppy session after the International Monetary Fund revised its 2023 global economic outlook lower.

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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. stocks fell Tuesday, reversing gains from earlier in the day as investors looked ahead to key inflation data out later in the week that will give the Federal Reserve updated information on the state of the U.S. economy.

Bond prices also fell, and the yield on the U.S. 10-year Treasury neared the key 4% level overnight. Yields stayed high on Tuesday with the 10-year yield up about 5.8 basis points at 3.943% at market close. Bond yields move inversely to prices, and a basis point is one hundredth of one percent.

Stocks fell off highs of the day and bond yields ticked up when the Bank of England said in the afternoon its market intervention will be over soon, and that pension funds have just three days to rebalance positions.

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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

The Nasdaq Composite fell 1.10% to 10,426.19, its lowest close since July 2020. Tuesday’s losses notched the fifth day in a row of declines for both indexes. The Dow Jones Industrial Average rose 36.31 points, or 0.12%, to close at 29,239.19, bolstered by jumps in Amgen and Walgreens Boots Alliance.

Investors are awaiting a few key inflation reports out later in the week that will inform how aggressively the Federal Reserve will hike interest rates going forward to tame inflation. On Wednesday, the producer price report will be released. That’s followed by the September consumer price index Thursday. On Friday, September retail sales will give further insight into consumption.

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Plan A : Long if market retraced but supported firm above 10902. Targets are 10938 and 10966.

Plan B : Short only if market failed to support above 10902. Targets are 10872 and 10854.

HSI

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from global markets overnight, amid the geopolitical worries surrounding the Russia-Ukraine war and the U.S.-China chip war.

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Plan A: Remain short if the market stays below 17500. Targets are 16719 and 16563.

Plan B: Consider long only if the market stays above 17344. Targets are 17500 and 17656.

WTI Crude

Oil prices settled 2% lower on Tuesday, extending the previous session's almost 2% decline, as recession fears and a flare-up in COVID-19 cases in China raised concerns over global demand.

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Plan A: Remain short as long as oil price stays below 90.63. Targets are 88.28 and 86.72.

Plan B: Consider long only if oil price stays above 90.63. Targets are 91.41 and 92.19.

Gold

Gold bounced off a one-week low on Tuesday, lifted by a softer dollar, while investors braced for a key U.S. inflation report that is expected to influence the Federal Reserve's monetary policy stance.

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Plan A: Remain short as long as gold price stays below 1695.3. Targets are 1664.1 and 1656.3.

Plan B: Attempts long only if gold price stays above 1695.3. Targets are 1703.1 and 1710.9.

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.