13 Oct 2022 Foreign

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

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E-Mini Dow

U.S. stocks ended a choppy session slightly lower on Wednesday after minutes from the last Federal Reserve meeting showed policymakers agreed they needed to maintain a more restrictive policy stance.

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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

The S&P 500 fell Wednesday, notching a sixth consecutive daily loss and hitting the lowest close since November 2020 as investors looked ahead to a key consumer report that will inform the pace of the Federal Reserve’s rate hikes going forward.

Earlier in the day, stocks ticked up and bond yields dropped after minutes from the Federal Reserve’s September meeting were released in the afternoon. The minutes showed that the central bank expects to keep hiking interest rates and keep them high until inflation shows signs of cooling off.

Investors will get even more important inflation data on Thursday. The consumer price index is a measure of price changes in a basket of common consumer goods and services.

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Plan A : Long if market supported firm above 3577. Targets are 3582 and 3591.

Plan B : Short if market failed to support above 3577. Targets are 3568 and 3555.

E-Mini Nasdaq

The Dow Jones Industrial Average shed 28.34 points, or 0.10%, to close at 29,210.85. The Nasdaq Composite inched down by 0.09% to end at 10,417.10.

The 10-year Treasury yield fell below 3.9%, which helped boost equities prices. The Dow was up more than 150 points after the release of the 2 p.m. ET minutes.

The Federal Reserve’s September meeting minutes, released Wednesday, show that the central bank expects to continue increasing interest rates and hold them higher until inflation shows signs of abating.

The minutes reflect policymaker’s discussions ahead of the last 0.75 percentage point increase, the third consecutive hike of that size delivered this year.

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Plan A : Long if market retraced but supported firm above 10417. Targets are 10449 and 10486.

Plan B : Short only if market failed to support above 10417. Targets are 10385 and 10359.

HSI

Asian stocks wallowed at two-year lows on Wednesday, weighed by signs China had no immediate plans to ease strict COVID curbs while an unrelenting dollar rally and wobbles in the U.K. bond market and pound shook global investor sentiment.

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Plan A: Remain short if the market stays below 17188. Targets are 16563 and 16250.

Plan B: Consider long only if the market stays above 16875. Targets are 17188 and 17500.

WTI Crude

Oil futures fell for a third day in a row on Wednesday, fueled by ongoing concerns about demand, the dollar's strength and expectations for more interest rate hikes by major central banks.

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Plan A: Remain short as long as oil price stays below 89.84. Targets are 86.72 and 85.94.

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

Gold

Gold prices firmed on Wednesday, drawing support from a drop in the dollar and U.S. Treasury yields in the wake of minutes from the Federal Reserve's last policy meeting.

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Plan A: Remain short as long as gold price stays below 1695.3. Targets are 1671.9 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.