WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street ended sharply lower on Thursday after unexpectedly strong inflation data and a drop in weekly jobless claims added to fears that the U.S. Federal Reserve will keep raising interest rates to tame high prices.
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Plan A: Remain short as long as market trades below 33984. Targets are 33594 and 33496.
Plan B: Consider long if market stays above 33984. Targets are 34180 and 34375.
E-Mini S&P 500
Stocks fell Thursday after another hot inflation report, and a decline in jobless claims, showed the economy is holding up amid the Federal Reserve’s rate hikes.
Stocks slipped after January’s producer price index, another inflation measure, rose 0.7% on the month per Thursday’s report, while economists surveyed by Dow Jones expected a 0.4% increase. Initial jobless claims unexpectedly fell for the week ending Feb. 11, per a Labor Department report.
The new data comes after January’s consumer price index and retail sales report were both higher than expected, suggesting that the Fed may have further to go in its efforts to tame inflation.
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Plan A: Short if market failed to support above 4067. Targets are 4059 and 4042.
Plan B: Long if market supported firm above 4067. Targets are 4073 and 4089.
E-Mini Nasdaq
Stocks were still down heading into the final hour of trading Thursday as investors mulled hotter-than-expected inflation reports and an unexpected dip in initial jobless claims.
The comments come despite separate data releases this week showing that both consumer and producer prices increased more than expected in January. Bullard acknowledged that inflation is still too high, but said higher interest rates will keep it in check despite continued economic growth and a robust labor market.
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Plan A: Long if market retraced but supported firm above 1233. Targets are 12362 and 12395.
Plan B: Short if market failed to support above 12330. Targets are 12302 and 12285.
HSI
Asia-Pacific stock markets were mostly higher on Thursday, supported by stronger-than-expected US retail sales and despite a record trade deficit in Japan.
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Plan A: Remain short if the market stays below 21250. Targets are 20625 and 20469.
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 short as long as oil price stays below 79.69. Targets are 77.73 and 76.95.
Plan B: Consider long only if oil price stays above 79.69. Targets are 80.08 and 80.47.
Gold
Gold prices bounced off one-month lows on Thursday, as the dollar gave up most of its gains and as some investors seized the chance to pick up the bullion at relatively cheaper levels.
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Plan A: Remain short as long as gold price stays below 1859.4. Targets are 1835.9 and 1832.
Plan B: Attempts long only if gold price stays above 1859.4. Targets are 1867.2 and 1875.
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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