2 Mar 2023 Foreign

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

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E-Mini Dow

The main U.S. indexes ended mixed on Wednesday as rising Treasury yields and concerns about continuing Federal Reserve interest rate hikes dented demand for risky assets.

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Plan A: Remain long as long as market trades above 32617. Targets are 32910 and 33105.

Plan B: Consider short if market stays below 32617. Targets are 32520 and 32324.

E-Mini S&P 500

The S&P 500 fell Wednesday, the first day of March, as traders struggled to recover their footing following a losing month and bond yields continued their climb.

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Plan A: Short if market failed to support above 3970. Targets are 3960 and 3942.

Plan B: Long if market supported firm above 3970. Targets are 3985 and 4002.

E-Mini Nasdaq

The broad market index fell 0.47% to 3,951.39, while the tech-heavy Nasdaq Composite lost 0.66% to close at 11,379.48. The blue-chip Dow Jones Industrial Average ended the day just above the flatline at 32,661.84, a gain of 5.14 points.

The moves came as bond yields extended their February gains, with the benchmark 10-year yield briefly topping 4% for the first time since November. The 1-year Treasury yield rose above 5%.

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Plan A: Short if market failed to support above 11986. Targets are 11953 and 11924.

Plan B: Long if market retraced but supported firm above 11986. Targets are 12012 and 12048.

HSI

Hong Kong’s Hang Seng index jumped 3.3% and was the best performer in Asia, as optimism over China helped the index recover from a near two-month low.

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Plan A: Remain long if the market stays above 20000. Targets are 20625 and 20938.

Plan B: Consider short only if the market stays below 20000. Targets are 19844 and 19688.

WTI Crude

crude oil rose on Wednesday as a positive economic report from China offset worries over another rise to US inventories.

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Plan A: Remain long as long as oil price stays above 76.56. Targets are 78.13 and 78.91.

Plan B: Consider short only if oil price stays below 76.56. Targets are 75.78 and 75.00.

Gold

Gold prices gained 1% on Wednesday as strong Chinese economic data dented the dollar and drove some bets for better physical demand from the top bullion consumer, although the risk of rising U.S. interest rates capped gains.

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Plan A: Remain long as long as gold price stays above 1828.1. Targets are 1851.6 and 1855.5.

Plan B: Attempts short only if gold price stays below 1828.1. Targets are 1824.2 and 1812.5.

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.