7 Jul 2023 Foreign

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

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E-Mini Dow

Stocks slid on Thursday after better-than-expected jobs data increased investors’ anxiety around the state of the economy and path of interest rates. The Dow Jones Industrial Average dropped 366.38 points, or 1.07%, to close at 33,922.26. 

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Plan A: Remain long as long as market trades above 34375. Targets are 34766 and 34961.

Plan B: Consider short if market stays below 34375. Targets are 34180 and 34082.

E-Mini S&P 500

The three major indexes are on pace to finish the week lower with just Friday’s session left in the holiday-shortened trading week. The Dow is poised for a slide of 1.4% on the week. The S&P 500 and Nasdaq, meanwhile, are on pace for weekly losses of 0.9% and 0.8%, respectively.

The S&P 500 lost 0.79% to end at 4,411.59. 

Private sector jobs increased by 497,000 in June, according to data from payroll processing firm ADP, in the biggest monthly gain since July 2022. June’s increase was more than double the Dow Jones consensus estimate of 220,000 and far better than the downwardly revised 267,000-job addition seen in May. The 2-year U.S. Treasury yield hit a 16-year high in Thursday’s session.

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Plan A: Long if market supported firm above 4482. Targets are 4493 and 4509.

Plan B: Short if market failed to support above 4482. Targets are 4471 and 4458.

E-Mini Nasdaq

Stocks rose Friday and technology names continued their staggering run to cap off a strong start to the year, and the best first half for the Nasdaq Composite since 1983.

Mega-cap technology stocks responsible for a sizeable chunk of 2023′s market gains rose Friday.

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Plan A: Long if market retraced but supported firm above 15306. Targets are 15339 and 15369.

Plan B: Short if market failed to support above 15306. Targets are 15275 and 14258.

HSI

Asian stocks slid on Friday to cap a torrid first week of the quarter for financial markets, with the dollar standing tall and bonds crumbling as the resilience of U.S. jobs data has investors bracing for interest rates to head higher still.

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Plan A: Remain long if the market stays above 18441. Targets are 18475 and 18553.

Plan B: Consider short only if the market stays below 18441. Targets are 18363 and 18324.

WTI Crude

Oil prices rose on Friday and were on track for their second straight weekly gain, as resilient demand resulted in a larger-than-expected fall in U.S. oil stocks, offsetting fears of higher U.S. interest rates.

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Plan A: Remain long as long as oil price stays above 70.31. Targets are 71.48 and 71.88.

Plan B: Consider short only if oil price stays above 70.31. Targets are 69.92 and 69.53.

Gold

Asian stocks slid on Friday to cap a torrid first week of the quarter for financial markets, with the dollar standing tall and bonds crumbling as the resilience of U.S. jobs data has investors bracing for interest rates to head higher still.

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Plan A: Remain long as long as gold price stays above 1925.8. Targets are 1937.5 and 1945.3.

Plan B: Attempts short only if gold price stays below 1925.8. Targets are 1921.9 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.