19 Dec 2023 Foreign

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

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E-Mini Dow

U.S. stocks gained ground on Monday as market participants parsed mounting expectations of interest rate cuts from the Federal Reserve in the coming year and looked ahead to a week of crucial economic data.

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Plan A: Remain long as long as market trades above 37109. Targets are 37500 and 37695.

Plan B: Consider short if market stays below 37109. Targets are 36914 and 36523.

E-Mini S&P 500

U.S. stock futures were fractionally higher after the three major averages notched their seventh straight week of gains. The Dow Jones Industrial Average recorded a new intraday record, and the Nasdaq 100 had a new closing high. 

The winning streak for the S&P 500 marked its longest string of weekly gains since 2017.

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Plan A: Long if market supported firm above 4720. Targets are 4740 and 4760.

Plan B: Short if market failed to support above 4720. Targets are 4700 and 4792.


E-Mini Nasdaq

Investor sentiment took a positive turn last week after the Federal Reserve indicated three short-term interest rate cuts are expected in 2024 amid cooling inflation. 

On the economic front, investors will be looking toward December’s business leaders survey and housing market index results. Monday marks the start of the final full trading week of 2023.

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Plan A: Long if market retraced but supported firm above 16870. Targets are 16900 and 16926.

Plan B: Short if market fall below 16870. Target are 16825 and 16799

HSI

Hong Kong shares finished on a negative note on Monday after a strong rally at the end of last week, as the euphoria over the Federal Reserve's dovish pivot fades.

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Plan A: Remain short if the market stays below 16719. Targets are 16406 and 16250.

Plan B: Consider long only if the market stays above 16719. Targets are 16875 and 17031.

WTI Crude

West Texas Intermediate (WTI) closed higher on Monday, gaining a geopolitical-risk premium as attacks on Red Sea shipping by Houthi militants in Yemen have forced the suspension of some shipments through the Suez Canal.

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Plan A: Remain long as long as oil price stays above 71.88. Targets are 74.22 and 75.78.

Plan B: Consider short only if oil price stays above 71.88. Targets are 71.09 and 69.53.

Gold

Gold edged higher early on Monday, staying firmly above the US$2,000 mark as the dollar weakened while treasury yields rise.

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Plan A: Remain long as long as gold price stays above 2031.25. Targets are 2007.81 and 2000.

Plan B: Attempts long only if gold price stays above 2031.25. Targets are 2039.06 and 2046.87.

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.