11 Apr 2023 Foreign

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

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E-Mini Dow

U.S. stock indexes clawed back from steep losses to a mixed close on Monday as investors digested Friday's employment report and prepared for an eventful week of inflation data and bank earnings.

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Plan A: Remain long as long as market trades above 33643. Targets are 33838 and 33936.

Plan B: Consider short if market stays below 33643. Targets are 33545 and 33496.

E-Mini S&P 500

Investors are coming off a long holiday weekend and responding to the March jobs report that came out on Good Friday when the New York Stock Exchange was closed. The report showed a resilient economy and moderate inflation, following some signs of weakening in the labor market earlier in the week.

The S&P 500 lost 0.1% on the week, its first losing week in four, finishing at 4,105.02. The tech-heavy Nasdaq fell 1.1% over the course of the week to 12,087.96. The 30-stock Dow posted a weekly gain of 0.6% to close out at 33,485.29.

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Plan A: Long if market supported firm above 4113. Targets are 4123 and 4140.

Plan B: Short if market failed to support above 4113. Targets are 4102 and 4092.

E-Mini Nasdaq

Investors are in for a busy week of economic data, including the latest consumer price and producer price index data for March – due out Wednesday and Thursday, respectively – which help determine if or when the Fed will pause or end its rate-hiking campaign.

Nonfarm payrolls grew by 236,000 for the month, about in line with the Dow Jones estimate of 238,000, the Labor Department reported. The unemployment rate fell to 3.5%, against expectations that it would hold from the previous month at 3.6%.

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Plan A: Long if market retraced but supported firm above 13055. Targets are 13089 and 13122.

Plan B: Short if market failed to support above 13055. Targets are 13020 and 13000.

HSI

Hong Kong shares ended slightly higher Thursday, as a strong reading on Chinese service sector activity offset concerns about a US recession.

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Plan A: Remain long if the market stays above 20313. Targets are 20625 and 20703.

Plan B: Consider short only if the market stays below 20313. Targets are 20234 and 20078.

WTI Crude

crude oil slipped back below the US$80 market for the first time in seven sessions on Monday as the dollar rose after a robust US jobs report released on the Good Friday holiday added to expectations the Federal Reserve will stay hawkish with further rate hikes, cutting into demand as the economy slows.

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Plan A: Remain short as long as oil price stays below 80.47. Targets are 79.49 and 79.10.

Plan B: Consider long only if oil price stays above 80.47. Targets are 81.05 and 81.64.

Gold

Gold retreated below the key $2,000 level on Monday as the dollar advanced on Friday's strong U.S. jobs numbers, while traders also positioned for inflation readings this week that could influence interest rate hikes.

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Plan A: Remain short as long as gold price stays below 2015.6. Targets are 2000 and 1992.2.

Plan B: Attempts long only if gold price stays above 2015.6. Targets are 2023.4 and 2031.3.

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.