WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
In regular trading, the major averages posted their biggest one-day rallies since 2020. The Dow jumped more than 1,200 points. All of the indexes are on pace for a winning week. The Dow is up 4% on a weekly basis
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Plan A: Remain short as long as market trades below 33898. Targets are 33498 and 33043.
Plan B: Consider long if market stays above 33898. Targets are 34202 and 34682.
E-Mini S&P 500
Stock futures rose early Friday after China said it would ease some Covid measures, building on optimism from better-than-feared inflation data that fueled a broad market rally Thursday.
Stock futures opened slightly higher on Thursday night after better-than-feared inflation data fueled a broad market rally
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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
The rally came after the Bureau of Labor Statistics reported a smaller-than-expected rise in consumer prices for the month of October, giving investors hope that inflation may be cooling. U.S. Treasury yields plunged after the data release, while tech stocks soared.
October’s CPI increased 0.4% for the month and 7.7% from a year ago. Respective estimates from Dow Jones were for gains of 0.6% and 7.9%.
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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 trades at 17, 275 which a hug upside due to the strong U.S. market on Friday and China said it would ease some Covid measures.
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Plan A: Remain short if the market stays below 16563. Targets are 15938 and 15625.
Plan B: Consider long only if the market stays above 17301. Targets are 17661 and 17975.
WTI Crude
Oil prices rose on Friday as fears of a U.S. recession eased but were on track for weekly declines of more than 4% after a jump in COVID-19 cases in top oil importer China raised the spectre of weaker fuel demand.
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Plan A: Remain short as long as oil price stays below 87.50. Targets are 82.81 and 81.25.
Plan B: Consider long only if oil price stays above 87.50. Targets are 89.06 and 90.63.
Gold
Gold prices edged higher on Friday en route to their biggest weekly gain in more than two years as U.S. data pointing to slowing inflation boosted hopes that the Federal Reserve would slow its aggressive rate hikes.
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Plan A: Remain long as long as gold price stays above 1687.5. Targets are 1718.8 and 1734.4.
Plan B: Attempts short only if gold price stays below 1687.5. Targets are 1671.9 and 1656.3.
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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