WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street's main indexes ended lower on Wednesday as a grim outlook from Target spurred fresh concerns about retailers heading into the crucial holiday season, while semiconductor shares slid after Micron's supply cut.
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Plan A: Remain short as long as market trades below 33789. Targets are 33984 and 33203.
Plan B: Consider long if market stays above 33789. Targets are 33887 and 33984.
E-Mini S&P 500
Stocks fell on Wednesday as investors weighed a gloomy holiday quarter update from Target that pressured retail stocks.
Those moves came after Target reported a decline in sales as families deal with high inflation heading into the biggest shopping season of the year for retailers.
The 10-year Treasury yield temporarily sank below 3.7%, and the spread between it and the 2-year yield continued to fall deeper into negative territory.
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Plan A: Long only if market supported firm above 3958. Targets are 3962 and 3979.
Plan B: Short if market rebounded but failed to support above 3958. Targets are 3945 and 3937.
E-Mini Nasdaq
Stock futures inched higher Wednesday night as investors responded to a weak outlook from retail chain Target early in the day, and results from Nvidia and Cisco that landed after the market closed.
Investors will also watch tomorrow for weekly jobless claims, the latest reports on on October housing starts and building permits, and manufacturing surveys from the Philadelphia and Kansas City Federal Reserve banks.
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Plan A: Long if market supported firm above 11183. Targets are 11218 and 11246.
Plan B: Short if market rebounded but failed to support above 11183. Targets are 11152 and 11124.
HSI
Equities in Hong Kong dropped 55.78 points or 0.3% to finish at 18,287.34 on Wednesday, down for the first session in four, as trading was rattled by a rocket blast in Poland.
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Plan A: Remain short if the market stays below 18438. Targets are 17813 and 17500.
Plan B: Consider long only if the market stays above 17500. Targets are 18438 and 18750.
WTI Crude
Oil prices settled more than a dollar lower on Wednesday after Russian oil shipments via the Druzhba pipeline to Hungary restarted and as rising COVID-19 cases in China weighed on sentiment.
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Plan A: Remain short as long as oil price stays below 87.50. Targets are 84.38 and 82.81.
Plan B: Consider long only if oil price stays above 87.50. Targets are 89.06 and 90.63.
Gold
Gold hovered near its three-month peak on Wednesday, weighed by a slightly stronger dollar while benchmark yields were lower, as the market focus shifted from global tensions to the Federal Reserve's interest rate strategy.
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Plan A: Remain long as long as gold price stays above 1765.6. Targets are 1781.3 and 1796.9.
Plan B: Attempts short only if gold price stays below 1765.6. Targets are 1753.9 and 1746.1.
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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