28 Aug 2023 Foreign

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

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E-Mini Dow

U.S. stocks ended a volatile session higher on Friday as investors digested comments from Federal Reserve Chair Jerome Powell that the U.S. central bank may need to raise interest rates further to ensure inflation is contained.

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Plan A: Remain long as long as market trades above 34277. Targets are 34473 and 34668.

Plan B: Consider short if market stays below 34277. Targets are 34326 and 34229.

E-Mini S&P 500

The S&P 500 lost 1.35% to end the day at 4,376.31. 

Nvidia shares reached an all-time high after the company reported quarterly earnings and revenue that exceeded lofty analyst expectations. The company also raised its guidance, with executives predicting third-quarter revenue would climb to $16 billion, or a year-over-year increase of 170%. However, the stock closed just 0.1% higher.

U.S. Treasury yields climbed on Thursday as investors waited for signals on monetary policy from central bankers’ comments at the Jackson Hole, Wyoming meeting on Friday. The yield on the benchmark 10-year Treasury note was higher at 4.241%, after hitting a 16-year high earlier this week.

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Plan A: Short if market failed to support above 4389. Targets are 4372 and 4363.

Plan B: Long if market supported firm above 4389. Targets are 4402 and 4418.




E-Mini Nasdaq

Stocks fell sharply Thursday after a tech rally, sparked by stronger-than-expected Nvidia results, was short-lived. Traders also braced for a key speech from Federal Reserve Chairman Jerome Powell.

The tech-heavy Nasdaq Composite shed 1.87% to 13,463.97.

A strengthening U.S. Dollar, a strong interest rate differential and improving economic conditions would typically be positives for the U.S. economy.

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Plan A: Short if market failed to support above 14849. Targets are 14813 and 14782.

Plan B: Long if market retraced but supported firm above 14849. Targets are 14876 and 14899.

HSI

Hong Kong shares sank on Friday with the rest of Asia as traders awaited a key speech later in the day by Federal Reserve boss Jerome Powell, while US jobs data dented hopes the central bank will hold off on any more interest rate hikes.

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Plan A: Remain long if the market stays above 17813. Targets are 18125 and 18281.

Plan B: Consider short only if the market stays above 17813. Targets are 17734 and 17656.

WTI Crude

crude oil rose on Friday even as Federal Reserve chair Jerome Powell said further interest-rate hikes could be coming if the US economy remains running hot

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Plan A: Remain long as long as oil price stays above 78.91. Targets are 80.47 and 81.25.

Plan B: Consider short only if oil price stays below 78.91. Targets are 78.13 and 77.73.

Gold

Gold fell on Friday, en route to snap a four-session streak of gains after Federal Reserve Chair Jerome Powell left the door open to more interest rate hikes.

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Plan A: Remain long as long as gold price stays above 1906.25. Targets are 1921.87 and 1929.68.

Plan B: Attempts short only if gold price stays below 1906.25. Targets are 1898.43 and 1890.62.

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.