16 Feb 2023 Foreign

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

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E-Mini Dow

Wall Street shambled through another uncertain session on Wednesday, as investors continued to speculate about the future of interest rate policy following another stronger-than-expected economic report. A late-date updraft allowed the major U.S. equity averages to finish the day slightly higher, following a mixed performance the previous day.

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Plan A: Remain long as long as market trades above 33984. Targets are 34277 and 34473.

Plan B: Consider short if market stays below 33984. Targets are 33887 and 33789.

E-Mini S&P 500

S&P 500 futures were higher on Thursday after strong retail sales data suggested a resilient U.S. economy.

Weekly jobless claims data, as well as January’s housing starts report, are also due Thursday.

The producer price index measures the prices paid by wholesalers. Economists polled by Dow Jones anticipate that the metric gained 0.4% in January. Back in December, the index slipped by 0.5% for the month. Excluding volatile food and energy prices, economists predict that the PPI gained 0.3% in January, compared to December’s gain of 0.1%.

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Plan A: Short if market failed to support above 4134. Targets are 4128 and 4118.

Plan B: Long if market supported firm above 4134. Targets are 4149 and 4156.

E-Mini Nasdaq

Stocks closed slightly higher during the regular session Wednesday, despite falling earlier in the day after a stronger-than-expected January retail sales report suggested the Federal Reserve may have further to go in its efforts to tame inflation.

Wall Street is expecting further economic insight from a slew of reports Thursday. For starters, another inflation gauge will be out in the morning, the January producer price index. Dow Jones estimates are calling for a rise of 0.4%, compared to December’s decline of 0.5%.

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Plan A: Long if market retraced but supported firm above 12330. Targets are 12362 and 12395.

Plan B: Short if market failed to support above 12330. Targets are 12302 and 12285.

HSI

Asia Pacific markets traded lower on Wednesday after the release of U.S. inflation data that came in hotter-than-expected. It further raised expectations that the U.S. Federal Reserve will continue to raise interest rates to curb inflation.

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Plan A: Remain short if the market stays below 21250. Targets are 20781 and 20625.

Plan B: Consider long only if the market stays above 21250. Targets are 21406 and 21563.

WTI Crude

crude oil closed lower on Wednesday as a report showing a oversized rise in US oil inventories overshadowed a rising demand forecast from the International Energy Agency (IEA), even as economic releases show little signs of slowing US economy.

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Plan A: Remain long as long as oil price stays above 78.13. Targets are 79.30 and 80.08.

Plan B: Consider short only if oil price stays below 78.13. Targets are 77.34 and 76.95.

Gold

Gold prices dropped to their lowest in over a month on Wednesday, weighed down by a stronger dollar as better-than-expected U.S. economic data raised worries the Federal Reserve could hike interest rates further.

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Plan A: Remain short as long as gold price stays below 1867.2. Targets are 1839.8 and 1832.

Plan B: Attempts long only if gold price stays above 1867.2. Targets are 1871.1 and 1882.8.

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.