WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The main U.S. indexes extended gains from the previous session after soft inflation data supported expectations of smaller interest rate hikes by the U.S. Federal Reserve.
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Plan A: Remain long as long as market trades above 33203. Targets are 33984 and 34375.
Plan B: Consider short if market stays below 33203. Targets are 33008 and 32813.
E-Mini S&P 500
Stock futures traded lower early Monday morning after the S&P 500 posted its biggest weekly gain in almost five months on the back of easing inflation data.
The S&P 500 rallied 5.9% last week for its best week since June. Investors cheered a lighter-than-expected inflation reading, betting that the Federal Reserve would soon slow its aggressive tightening campaign.
The third-quarter earnings season is set to continue, with a heavy emphasis on retail. Tyson Foods will report results Monday before the bell.
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Plan A: Long only if market supported firm above 3980. Targets are 4005 and 4021.
Plan B: Short if market rebounded but failed to support above 3980. Targets are 3973 and 3961.
E-Mini Nasdaq
Dow Jones Industrial Average futures fell 84 points, or 0.25%. Nasdaq 100 futures traded 0.55% lower.
The tech-heavy Nasdaq Composite gained 8.1% last week for its best week since March, while the blue-chip Dow advanced 4.2%.
Investors digested news on the politics front over the weekend. Democrats will keep control of the Senate in the 2022 midterm elections, NBC News projected. The party will hold at least 50 seats after Sens. Mark Kelly of Arizona and Catherine Cortez Masto of Nevada held off challenges.
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Plan A: Long if market supported firm above 11701. Targets are 11735 and 11764.
Plan B: Short if market rebounded but failed to support above 11701. Targets are 11672 and 11649.
HSI
The Hang Seng index jumped 1,238.92 points or 7.7% to finish at a five-week high of 17,319.96, halting losses in the prior two days and surging 7.2% for the week which was the second straight weekly gain, after China eased some of its heavy COVID curbs, including shortening quarantine times for close contacts and inbound travelers.
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Plan A: Remain long if the market stays above 16875. Targets are 17656 and 17813.
Plan B: Consider short only if the market stays below 16875. Targets are 16719 and 16250.
WTI Crude
Oil prices settled higher on Friday but fell week-on-week after health authorities in China eased some of the country's heavy COVID-19 curbs, raising hopes for improved economic activity and demand in the world's top crude importer.
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Plan A: Remain long as long as oil price stays above 85.94. Targets are 90.63 and 92.19.
Plan B: Consider short only if oil price stays below 85.94. Targets are 84.38 and 82.81.
Gold
Gold prices extended gains to a near three-month high on Friday and were heading for their best week in over 2-1/2 years, as signs of cooling U.S. inflation bolstered bets that the Federal Reserve would be less hawkish on rate hikes going forward.
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Plan A: Remain long as long as gold price stays above 1750. Targets are 1781.3 and 1796.9.
Plan B: Attempts short only if gold price stays below 1750. Targets are 1734.4 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.
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