15 Nov 2023 Foreign

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

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E-Mini Dow

U.S. stocks closed sharply higher on Tuesday, led by the Nasdaq, as softer-than-expected inflation data supported the view that the Federal Reserve may be done raising interest rates.

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Plan A: Remain long as long as market trades above 34375. Targets are 34863 and 35058.

Plan B: Consider short if market stays above 34375. Targets are 34277 and 34179.

E-Mini S&P 500

Stocks rallied Tuesday, building on their strong November gains, as Wall Street cheered new U.S. inflation data that raised hopes of the Federal Reserve wrapping up its rate-hiking campaign.

Following the report, fed-funds futures pricing data suggested rates are likely to remain steady at the next Fed policy meeting, according to the CME FedWatch Tool.

The 10-year Treasury yield, which shocked investors by leaping over 5% in October, tumbled below 4.5% following the soft inflation report.

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Plan A: Long if market supported firm above 4520. Targets are 4539 and 4550.

Plan B: Short if market failed to support above 4520. Targets are 4512 and 4499.




E-Mini Nasdaq

The Nasdaq Composite jumped 2.37% to close at 14,094.38.

CPI was flat last month, while economists polled by Dow Jones expected a gain of 0.1% month over month. So-called core CPI, which strips out food and energy prices, was also lower than expected and rose at the slowest rate in two years. This instilled optimism into the market that the Federal Reserve could finally end its rate-hiking campaign for good.

The fund closed at a record high, as investors returned to the sector that has been one of the hardest hit by rate hikes. Shares of Tesla gained more than 6%.

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Plan A: Long if market retraced but supported firm above 15920. Targets are 15968 and 15993.

Plan B: Short if market failed to support above 15920. Targets are 15895 and 15866.

HSI

Hong Kong shares closed slightly lower on Tuesday after fluctuating through the day as investors kept a wary eye on the release of US inflation data later in the day.

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Plan A: Remain long if the market stays above 17578. Targets are 17891 and 18047.

Plan B: Consider short only if the market stays above 17578. Targets are 17500 and 17422.

WTI Crude

West Texas Intermediate (WTI) crude oil closed unchanged amid volatile trading on Tuesday as US inflation rose less than expected last month while the International Energy Agency raised its demand forecast for this year and 2024, while noting supply is also on the rise.

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Plan A: Remain long as long as oil price stays above 77.34. Targets are 78.91 and 79.69.

Plan B: Consider short only if oil price stays below 77.34. Targets are 76.56 and 75.78.

Gold

Gold prices gained 1% on Tuesday as the dollar and Treasury yields retreated after softer-than-expected U.S. consumer inflation data fuelled bets that the Federal Reserve may be done hiking interest rates.

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Plan A: Remain long as long as gold price stays above 1953.12. Targets are 1972.65 and 1976.56.

Plan B: Attempts short only if gold price stays below 1953.12. Targets are 1945.31 and 1937.50.

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.