15 Aug 2023 Foreign

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

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E-Mini Dow

Wall Street's main indexes slipped on Monday on a drag from shares of Tesla, while investors also awaited earning reports from U.S. retail giants and economic data later in the week to gauge the strength of consumer spending.

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Plan A: Remain long as long as market trades above 35156. Targets are 35449 and 35645.

Plan B: Consider short if market stays below 35156. Targets are 35059 and 35010.

E-Mini S&P 500

The S&P 500 rose Monday as Wall Street, lifted by a rebound in chip stocks and tech names.

This week could be driven by insights into the state of the U.S. consumer, with earnings reports due from Home Depot, Target and Walmart. Retail sales data from July is also due out on Tuesday morning.

The earnings reports are coming after a mixed batch of inflation reports last week, which show that price increased have eased from their post-pandemic peak but are still above the Federal Reserve’s 2% target.

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Plan A: Short if market failed to support above 4508. Targets are 4497 and 4479.

Plan B: Long if market supported firm above 4508. Targets are 4518 and 4530.




E-Mini Nasdaq

The broad market index added 0.58%, closing at 4,489.72. The tech-heavy Nasdaq gained 1.05%, ending the day at 13,788.33.

Nvidia closed 7.1% higher, marking a turnaround for the chip giant after it sold off 8.5% last week. Shares got a boost after Morgan Stanley reiterated Nvidia as a top pick ahead of earnings. Chip stocks across the board also jumped, with the VanEck Semiconductor ETF (SMH) up 3% — though it is still down more than 6% in August.

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Plan A: Short if market failed to support above 15290. Targets are 15253 and 15224.

Plan B: Long if market retraced but supported firm above 15290. Targets are 15325 and 15361.

HSI

Hong Kong stocks closed with another loss on Monday, as concerns over China's property sector weighed on sentiment.

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Plan A: Remain short if the market stays below 19219. Targets are 18438 and 18125.

Plan B: Consider long only if the market stays above 19219. Targets are 19375 and 19688.

WTI Crude

crude oil weakened on Monday as more weak economic data from China lowered hopes for higher demand from the world's No.1 oil importer.

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Plan A: Remain short as long as oil price stays below 82.81. Targets are 81.64 and 81.25.

Plan B: Consider long only if oil price stays above 82.81. Targets are 83.59 and 84.38.

Gold

Gold prices fell to a more than one-month low on Monday as a stronger dollar took the shine off bullion, while investors awaited fresh catalysts to gauge the downside after mixed U.S. inflation numbers last week.

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Plan A: Remain short as long as gold price stays below 1921.87. Targets are 1902.34 and 1894.53.

Plan B: Attempts long only if gold price stays above 1921.87. Targets are 1925.78 and 1929.68.

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.