10 Jul 2023 Foreign

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

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E-Mini Dow

Major U.S. stock indexes declined on Friday with weakness intensifying into the close as investors took in the latest monthly payrolls data from the Labor Department, which offered a mixed view of the U.S. job market.

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Plan A: Remain short as long as market trades below 34375. Targets are 33887 and 33789.

Plan B: Consider long if market stays above 34375. Targets are 34473 and 34570.

E-Mini S&P 500

Stock futures slid on Monday morning as investors prepare for a slate of inflation data on Wednesday and Thursday and brace for the start of the second-quarter earnings season.

All three major indexes posted losses last week as a result. The S&P 500 pulled back 1.16%, while the Nasdaq Composite and Dow Jones Industrial Average fell 0.92% and 1.96%, respectively.

Still, investors also have a slew of quarterly earnings reports to consider. Finance behemoths BlackRock, JPMorgan Chase, Wells Fargo and Citi will all report and kick off the second-quarter earnings season.

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Plan A: Short if market failed to support above 4419. Targets are 4402 and 4389.

Plan B: Long if market supported firm above 4419. Targets are 4428 and 4442.

E-Mini Nasdaq

This week’s inflation data follows a rate hike skip at the June Federal Open Market Committee meeting. The consumer price index report is due out Wednesday morning, followed by the central bank’s preferred gauge of wholesale price pressures, the producer price index, on Thursday.

Stocks are heading into a new week after closing lower on jobs data from ADP and the Labor Department last week. Despite non-farm payrolls growth cooling somewhat, investors signaled that the still churning economy is enough for the Federal Reserve to continue on with benchmark interest rate hikes.

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Plan A: Short if market failed to support above 15116. Targets are 15075 and 14028.

Plan B: Long if market retraced but supported firm above 15116. Targets are 15149 and 15199.

HSI

Hong Kong stocks extended the week's losses on Friday on worries over fresh US rate hikes, though traders were cheered by a report that China was nearing the end of a probe into Alibaba's fintech affiliate Ant Group.

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Plan A: Remain short if the market stays below 18906. Targets are 18438 and 18281.

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

WTI Crude

crude oil closed at a six-week high on Friday as the dollar fell sharply after the United States reported it added fewer new jobs than expected in June, easing fears the Federal Reserve would need to be more hawkish on boosting interest rates in order to slow the economy to lower inflation.

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Plan A: Remain long as long as oil price stays above 71.48. Targets are 73.83 and 74.22.

Plan B: Consider short only if oil price stays above 71.48. Targets are 70.31 and 69.92.

Gold

Gold prices rose on Friday and were on track for their first weekly gain in four as the dollar and bond yields fell after weaker U.S. nonfarm payrolls numbers cast doubts over the trajectory of interest rate hikes beyond July yet again.

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Plan A: Remain long as long as gold price stays above 1921.9. Targets are 1941.4 and 1945.3.

Plan B: Attempts short only if gold price stays below 1921.9. Targets are 1918 and 1914.1.

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.