27 Apr 2023 Foreign

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

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E-Mini Dow

The S&P 500 and Dow finished Wednesday's trading in the red, dragged down by ongoing banking concerns. Meanwhile, an earnings-inspired rally in Microsoft buoyed the tech-heavy Nasdaq, allowing the index to post a modest gain.

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Plan A: Remain short as long as market trades below 33691. Targets are 33301 and 33203.

Plan B: Consider long if market stays above 33691. Targets are 33789 and 33887.

E-Mini S&P 500

The blue-chip index declined 228.96 points, or 0.68%, to end at 33,301.87 after trading up more than 100 points earlier in the session.

Demand for long-lasting goods like appliances and computers was higher than economists expected in March, according to data released Wednesday morning, in a sign that the economy is showing resilience. This data point comes ahead of the latest GDP update slated for Thursday and the big Personal Consumption Expenditures Price Index — the Fed’s favored inflation gauge — on Friday.

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Plan A: Long if market supported firm above 4092. Targets are 4109 and 4113.

Plan B: Short if market failed to support above 4092. Targets are 4082 and 4069.

E-Mini Nasdaq

The Dow Jones Industrial Average lost more than 200 points as investors’ worries over First Republic overshadowed their excitement around Big Tech earnings.

That reignited concerns about the health of the banking system initially prompted by the closure of Silicon Valley Bank last month. Bloomberg News reported Wednesday that U.S. bank regulators were considering downgrading their assessments of First Republic, which could hinder the bank’s ability to borrow from the Federal Reserve.

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Plan A: Long if market retraced but supported firm above 12935. Targets are 12962 and 12999.

Plan B: Short if market failed to support above 12935. Targets are 12901 and 12875.

HSI

Hong Kong stocks closed higher on Wednesday, offsetting some of the losses incurred in the previous day's selloff in Chinese firms.

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Plan A: Remain short if the market stays below 20000. Targets are 19531 and 19375.

Plan B: Consider long only if the market stays above 20000. Targets are 20156 and 20313.

WTI Crude

crude oil fell for a second session on Wednesday, closing at the lowest in nearly a month as weak US economic data continues to raise worries a demand-destroying recession is on the way, even as a report showed oil inventories dropped last week.

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Plan A: Remain short as long as oil price stays below 77.34. Targets are 74.22 and 72.66.

Plan B: Consider long only if oil price stays above 77.34. Targets are 78.91 and 79.69.

Gold

Gold eased back on Wednesday as yields recovered with the focus returning to upcoming economic data, after briefly breaking above $2,000 spurred by fresh worries surrounding the U.S. banking turmoil.

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Plan A: Remain short as long as gold price stays below 2003.9. Targets are 1992.2 and 1988.3.

Plan B: Attempts long only if gold price stays above 2003.9. Targets are 2011.7 and 2019.5.

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.