28 April 2022 Foreign

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

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E-Mini Dow

US stocks rose on Wednesday, with the tech-heavy Nasdaq Composite closing flat ahead of financial results of Meta Platforms and Qualcomm.

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Plan A: Remain short as long as market trades below 33789. Targets are 33203 and 32813.

Plan B: Consider long if market stays firm above 33008 and rebound. Targets are 33398 and 33594.

E-Mini S&P 500

Stock futures jumped in early morning trading as the market shook off the April sell-off and investors reacted positively to earnings from Meta Platforms.

The moves came as shares of Meta surged more than 18% after hours following a beat on earnings but a miss on revenue, a sign that investors may see signs of relief in the beaten-up tech sector. Shares were down 48% on the year heading into the results.

In Wednesday’s regular trading, the tech-heavy Nasdaq ended at 12,488.93, after rising to 1.7% at session highs. The Dow Jones Industrial Average rose 61.75 points, or 0.2%, to 33,301.93 propped up by gains from Visa and Microsoft, while the S&P 500 added 0.2% to 4,183.96.

Investors await big tech earnings on Thursday from Apple, Amazon and Twitter, along with results from Robinhood. Jobless claims are also due out Thursday.

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Plan A: Long if market supported firm above 4252. Targets are 4273 and 4299.

Plan B: Short if market failed to support above 4252. Targets are 4230 and 4211.

E-Mini Nasdaq

The Nasdaq Composite closed at its low of 2022, a day after its worst daily loss since 2020, as stocks attempted to rebound from a technology-led sell-off in April.

The tech-heavy index finished little changed at 12,488.93, after being up 1.7% at its highs. The Dow Jones Industrial Average rose 61.75 points, or 0.2%, to 33,301.93. The S&P 500 advanced 0.2% to 4,183.96.

The major averages struggled for direction Wednesday, swinging between gains and losses.

Corporate earnings were in focus as investors digested quarterly results from mega-cap names.

Microsoft rose 4.8%, providing support to the major averages, after strong earnings results. The company posted a better-than-expected quarterly report and issued optimistic forward revenue guidance.

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Plan A: Long if market supported firm above 13321. Targets are13365 and 13409.

Plan B: Short if market failed to support above 13321. Targets are 13280 and 13235.

HSI

The Hong Kong Hang Seng Index finished up 0.1%. Shanghai markets gained after a state newspaper hinted that Beijing's "zero tolerance" policy toward COVID-19 outbreaks may be adjusted.

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Plan A: Remain short if the market stays below 20156. Targets are 19844 and 19688.

Plan B: Consider long only if the market stays firm above 19688 and rebound. Targets are 19844 and 20000.

WTI Crude

Oil prices rose modestly on Wednesday due to ongoing concerns about tight worldwide supply, underscored by another drawdown in U.S. distillate and gasoline inventories.

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Plan A: Remain long as long as oil price stays above 100. Targets are 103.13 and 104.69.

Plan B: Consider short only if oil price stays below 100. Targets are 99.22 and 98.44.

Gold

Gold slipped to a more than two-month trough on Wednesday as the dollar rallied on expectations of aggressive monetary policy tightening by the U.S. Federal Reserve.

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Plan A: Remain short as long as gold price stays below 1906.3. Targets are 1882.8 and 1875.

Plan B: Attempts long only if gold price stays firm above 1878.9 and rebound. Targets are 1890.6 and 1898.4.

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.