9 Dec 2022 Foreign

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

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E-Mini Dow

US stocks closed in the green on Thursday after a five-day slide, but off their session-highs, as investors continued to assess the outlook for growth and the trajectory of monetary policy while awaiting key economic data.

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Plan A: Remain long as long as market trades above 33594. Targets are 33887 and 34082.

Plan B: Consider short if market stays below 33594. Targets are 33496 and 33398.

E-Mini S&P 500

The S&P 500 rose 0.8 percent, while the tech-heavy Nasdaq composite closed 1.1 percent higher. The Dow Jones Industrial Average added 0.5 percent.

Major indexes are all in the red for the week and have been swinging between big monthly gains and losses throughout the year. Investors’ worries about inflation, rising interest rates and recession risks have made for a volatile market. That has also left Wall Street focused on data points on the economy, especially those regarding inflation.

On Thursday, the US reported slightly more Americans filed for jobless claims last week, but not as many as economists had forecast. The labor market remains one of the strongest pockets of the economy, which has been stifled under the weight of stubbornly hot inflation and rising interest rates.

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Plan A: Long if market supported firm above 3947. Targets are 3968 and 3989.

Plan B： Short if market failed to support above 3947. Targets are 3928 and 3905. 

E-Mini Nasdaq

Stock futures were slightly higher Thursday evening as investors look ahead to new inflation data due Friday.

Futures tied to the Dow Jones Industrial Average rose 42 points, or 0.12%. S&P 500 futures and Nasdaq 100 futures were up 0.12% and 0.34%, respectively. 

Next, investors are awaiting the Friday release of the November producer price index report, which will give further information about how the Federal Reserve’s interest rate hikes are working to tame high inflation.

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Plan A: Short if market failed to support above 11671. Targets are 11620 and 11569.

Plan B: Long if market supported firm above 11671. Targets are 11720 and 11777.

HSI

Equities in Hong Kong climbed 423 points or 2.3% to 19,248 in morning trade on Thursday, halting losses in the prior two sessions, after China Wednesday announced ten new measures for dealing with COVID following rare protests that swept across the nation recently.

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Plan A: Remain long if the market stays above 19219. Targets are 19688 and 19844.

Plan B: Consider short only if the market stays below 19219. Targets are 19063 and 18906.

WTI Crude

Crude oil fell to a new 2022 lows on Thursday, the fifth-straight loss as continuing demand worries offset a big drop in US supply as a pipeline carrying nearly a fifth of Canada's oil exports to the United States was shut down following a spill.

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Plan A: Remain short as long as oil price stays below 75. Targets are 70.31 and 68.75.

Plan B: Consider long only if oil price stays above 75. Targets are 76.56 and 78.13.

Gold

Gold prices edged higher on Thursday as the dollar eased, while investors positioned themselves ahead of key U.S. inflation data and the Federal Reserve's policy meeting due next week.

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Plan A: Remain long as long as gold price stays above 1789.1. Targets are 1804.7 and 1812.5.

Plan B: Attempts short only if gold price stays below 1789.1. Targets are 1781.3 and 1773.4.

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.