Monday, February 20, 2023

21 Feb 2023 Foreign


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


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E-Mini Dow

Wall Street finished with a mixed performance on Friday, as ongoing uncertainty about the Federal Reserve led to another choppy session. The Dow ended the day higher, while the S&P 500 recorded its third lower finish in the past four sessions.

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Plan A: Remain long as long as market trades above 33691. Targets are 34082 and 34277.

Plan B: Consider short if market stays below 33691. Targets are 33594 and 33398.



E-Mini S&P 500

U.S. stock futures fell Monday night following a week during which higher interest rates kept investor sentiment in check.

The Dow fell 0.1% last week, marking its third straight weekly decline. The S&P 500 slid for a second consecutive week, losing 0.3%. 

Those moves came as traders grappled with hotter-than-expected inflation data, which pushed Treasury yields to levels not seen since November. Traders are worried that stubborn inflation will lead the Federal Reserve to keep rates higher for longer — which could tip the economy into a recession.

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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

The tech-heavy Nasdaq Composite bucked the trend, rising 0.6%.

The Fed on Wednesday is scheduled to release the minutes from its meeting of Jan. 31 and Feb. 1. The central bank hiked rates by 25 basis points after that meeting.

Traders will also parse through corporate earnings from retail giants Walmart and Home Depot to gauge how the consumer is doing.

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Plan A: Long if market retraced but supported firm above 12353. Targets are 12395 and 12428.

Plan B: Short if market failed to support above 12353. Targets are 12324 and 12296.

HSI
Asia-Pacific markets were mostly higher on Monday, as investors look ahead to a batch of economic data later in the week, including minutes for the U.S. Federal Open Market Committee (FOMC).

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Plan A: Remain long if the market stays above 20625. Targets are 21094 and 21328.

Plan B: Consider short only if the market stays below 20625. Targets are 20547 and 20469.

WTI Crude
Oil prices rose over 1% on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers and Russia's plans to rein in supply.

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Plan A: Remain short as long as oil price stays below 78.13. Targets are 75.78 and 75.

Plan B: Consider long only if oil price stays above 78.13. Targets are 78.91 and 79.69.


Gold
Gold prices edged higher on Monday with gains capped by a slightly higher dollar, as investors awaited upcoming U.S. economic data for clues on the Federal Reserve's rate-hike path.
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Plan A: Remain long as long as gold price stays above 1835.9. Targets are 1859.4 and 1867.2.
Plan B: Attempts short only if gold price stays below 1835.9. Targets are 1828.1 and 1820.3.


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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29 April 2024 Foreign

                WTI Crude, Gold, HSI, Dow,  S&P 500 and Nasdaq If you like what we are doing, kindly like and share our page on FB. Foll...