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Daily Futures Trading Strategy 15 December 2022 (Foreign Market)
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Publish date: Thu, 15 Dec 2022, 03:13 PM
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WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street whipsawed on Wednesday, jerking to a sharply lower close having ridden the Fed roller coaster after the central bank concluded its last monetary policy meeting of 2022.
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Plan A: Remain short as long as market trades below 33984. Targets are 33593 and 33398.
Plan B: Consider long if market stays above 33984. Targets are 34375 and 34765.
E-Mini S&P 500
The Fed delivered a widely anticipated 50 basis point rate hike at the conclusion of its December policy meeting. It’s a smaller bump from the prior four consecutive rate hikes of 75 basis points. A basis point is equal to one-hundredth of one percent.
Fed officials also forecast raising rates through next year, not lowering rates until 2024. The central bank ultimately sees itself taking rates to 5.1% before it stops hiking, a so-called terminal rate that is higher than the 4.6% level it forecast in September.
Treasury yields fluctuated during Powell’s press conference, as the central bank indicated further rate hikes ahead.
Fed officials also forecast raising rates through next year, not lowering rates until 2024. The central bank ultimately sees itself taking rates to 5.1% before it stops hiking, a so-called terminal rate that is higher than the 4.6% level it forecast in September.
Treasury yields fluctuated during Powell’s press conference, as the central bank indicated further rate hikes ahead.
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Plan A: Long if market supported firm above 4032. Targets are 4048 and 4061.
Plan B： Short if market failed to support above 4032. Targets are 4021and 4017.
E-Mini Nasdaq
Stocks slid Wednesday as investors absorbed the Federal Reserve’s latest interest rate hike decision in its efforts to crush inflation.
The S&P 500 declined 0.61% to 3,995.32.
Major averages hit their lows of the session after Federal Reserve Chairman Jerome Powell signaled more data was needed before the central bank would meaningfully change its view of inflation. The Dow fell as much as 404.47 points, after climbing 287.01 points earlier in the day.
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Plan A: Long if market supported firm above 11889. Targets are 11925 and 11964.
Plan B: Short if market failed to support above 11889. Targets are 11852 and 11821.
HSI
The Hang Seng added 77 points or 0.39% higher to close at 19,673 on Wednesday, gaining for the second session in a row, amid reports that China will stop releasing comprehensive data on new COVID cases.
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Plan A: Remain short if the market stays below 19844. Targets are 19531 and 19375.
Plan B: Consider long only if the market stays above 19844. Targets are 20000 and 20313.
WTI Crude
crude oil closed higher on Wednesday as recession fears eased after the United States a day earlier reported November inflation rose at a slower than expected pace, while the International Energy Agency bumped up its forecast for 2023 demand and US oil inventories climbed.
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Plan A: Remain long as long as oil price stays above 75.78. Targets are 78.13 and 79.69.
Plan B: Consider short only if oil price stays below 75.78. Targets are 75 and 74.22.
Gold
Gold slipped on Wednesday as the U.S. Federal Reserve signalled that interest rates would stay elevated going into the new year and said it was too soon to consider rate cuts.
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Plan A: Remain short as long as gold price stays below 1824.2. Targets are 1808.6 and 1800.8.
Plan B: Attempts long only if gold price stays above 1824.2. Targets are 1828.1 and 1835.9.
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.
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