29 Dec 2022 Foreign

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

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E-Mini Dow

Wall Street's main indexes ended weaker on Wednesday, with the Nasdaq hitting a 2022 closing low, as investors grappled with mixed economic data, rising COVID cases in China, and geopolitical tensions heading into 2023.

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Plan A: Remain short as long as market trades below 33203. Targets are 33008 and 32813.

Plan B: Consider long if market stays above 33203. Targets are 33398 and 33496.

E-Mini S&P 500

S&P 500 futures rose slightly on Wednesday night, as investors head into the final trading days of 2022.

The action follows a broad sell-off during the regular session Wednesday as recession fears weighed on investor sentiment in a losing week, month and year. The Dow Jones Industrial Average lost 365.85 points, or 1.1%. The S&P 500 fell 1.2%, while the Nasdaq Composite dropped 1.35%.

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Plan A: Long if market supported firm above 3785. Targets are 3792 and 3809.

Plan B： Short if market failed to support above 3785. Targets are 3772 and 3769. 

E-Mini Nasdaq

Dow Jones Industrial Average futures added 29 points, or 0.09%. S&P 500 and Nasdaq 100 futures climbed 0.14% and 0.23%, respectively.

On Thursday, traders are expecting the latest data on weekly jobless claims before the bell. Economists surveyed by Dow Jones are forecasting initial jobless claims to total 223,000 for the week ended Dec. 24, a rise from 216,000 during the previous period.

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Plan A: Long if market supported firm above 10719. Targets are 10746 and 10775.

Plan B: Short if market failed to support above 10719. Targets are 10688 and 10653.

HSI

The Hang Seng index gained 277 points or 1.41% to finish at a near three-week high of 17,870, halting losses in the prior day, after China said it would drop its quarantine requirements for inbound visitors starting January 8.

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Plan A: Remain short if the market stays below 19844. Targets are 19531 and 19375.

Plan B: Consider long only if the market stays above 19844. Targets are 20000 and 20156.

WTI Crude

WTI crude futures fell to below the $78 per barrel level on Wednesday, retreating from the three-week high of $81 in the previous session as soaring Covid deaths in China could prevent recent reopening measures from significantly increasing economic activity, erasing prior expectations of more energy demand from the world’s top consumer.

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Plan A: Remain short as long as oil price stays below 79.69. Targets are 78.13 and 77.34.

Plan B: Consider long only if oil price stays above 79.69. Targets are 80.47 and 81.25.

Gold

Gold prices dropped 1% on Wednesday, after reaching a six-month peak in the previous session, as a stronger dollar and higher Treasury yields weighed.

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Plan A: Remain long as long as gold price stays above 1804.7. Targets are 1820.3 and 1828.1.

Plan B: Attempts short only if gold price stays below 1804.7. Targets are 1800.8 and 1796.9.

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.