22 April 2022 Foreign

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

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E-Mini Dow

Wall Street's ended lower on Thursday, as investors reacted to Federal Reserve officials including Chair Jerome Powell offering further signposting of aggressive interest rate hikes this year.

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Plan A: Remain short as long as market trades below 35156. Targets are 34570 and 34375.

Plan B: Consider long if market stays firm above 34375 and rebound. Targets are 34766 and 34961.

E-Mini S&P 500

Stock futures were flat in overnight trading Thursday as the S&P 500 tried to avoid another losing week amid busy earnings and rising bond yields.

The S&P 500 dropped 1.48% to 4,393.66.

Treasury yields were up sharply on the day, with the benchmark 10-year rate trading above 2.9% for much of the session — near its highest level since late 2018.

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Plan A: Long if market retraced and supported firm above 4384. Targets are 4395, 4409 and 4417. 

Plan B : Short if market failed to support above 4384. Targets are 4379, 4364 and 4353.

E-Mini Nasdaq

Stocks fell Thursday in a sharp reversal, as a jump in Treasury yields offset the optimism coming from another batch of solid corporate earnings.

Nasdaq Composite slid 2.07% to 13,174.65.

Thursday’s move in rates came as Fed Chairman Jerome Powell signaled that bigger rate hikes may be coming next month.

Notable declines in the tech sectors came from Nvidia, falling about 6%, and Netflix and Alphabet, losing 3.5% and 2.5%, respectively.

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Plan A: Long if market supported firm above 13640. Targets are 13679 and 13703.

Plan B: Short if market failed to support above 13640. Targets are 13618 and 13587.

HSI

The Hong Kong Hang Seng Index opened lower and declined into the close, finishing off 1.3% as traders weighed China's lockdowns to battle the COVID-19 pandemic and comments by President Xi Jinping to an International Monetary Fund forum interpreted as supportive of Russia. Property and tech issues declined.

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Plan A: Remain short if the market stays below 20781. Targets are 20156 and 20000.

Plan B: Consider long only if the market stays firm above 20000 and rebound. Targets are 20316 and 20625.

WTI Crude

Oil prices rose on Thursday, buffeted by concerns about tightened supply as the European Union (EU) mulls a potential ban on Russian oil imports that would further restrict worldwide oil trade.

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Plan A: Remain short as long as oil price stays below 106.25. Targets are 103.13 and 101.56.

Plan B: Consider long only if oil price stays above 102.34 and rebound. Targets are 104.69 and 106.25.

Gold

Gold slipped 1% to a two-week low on Thursday, pressured by elevated U.S. Treasury yields and firmer risk appetite, with investors expecting aggressive policy tightening by the Federal Reserve.

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Plan A: Remain short as long as gold price stays below 1960.9. Targets are 1945.3 and 1937.5.

Plan B: Attempts long only if gold price stays firm above 1937.5 and rebound. Targets are 1953.1 and 1960.9.

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.