2 May 2023 Foreign

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

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E-Mini Dow

Wall Street indexes closed slightly lower and the dollar gained with Treasury yields as investors digested Monday's data and waited for the U.S. Federal Reserve's interest rate decision due on Wednesday as well as key upcoming economic data and quarterly earnings reports.

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Plan A: Remain long as long as market trades above 33984. Targets are 34277 and 34473.

Plan B: Consider short if market stays below 33594. Targets are 33301 and 33105.

E-Mini S&P 500

JPMorgan Chase CEO Jamie Dimon said that the deal resolves much of the fallout in the banking sector that has started since the sudden collapse of Silicon Valley Bank in March.

Goldman Sachs says an with market sentiment on the rise, the major averages are also on a positive track. The firm noted that the S&P 500 is up almost 9% year to date in a Monday note.

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Plan A: Long if market supported firm above 4127. Targets are 4139 and 4150.

Plan B: Short if market failed to support above 4127. Targets are 4111 and 4100.

E-Mini Nasdaq

First Republic’s demise and any potential fallout adds to the tension ahead of the Fed’s interest rate decision on Wednesday. The central bank is largely expected to hike one more time before pausing.

I bonds, which are issued by the federal government and are inflation protected, offer a composite rate that’s based on two factors. In particular, the 4.3% rate combines a 0.9% fixed rate of return and a 3.38% annualized rate of inflation that’s based on the Consumer Price Index for all Urban Consumers.

The new rate is down from the 6.89% composite rate for bonds issued between Nov. 1, 2022 and April 30. It’s a far cry from the composite rate of 9.62% on I bonds issued from May 2022 through October 2022 of that year.

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Plan A: Long if market retraced but supported firm above 13230. Targets are 13268 and 13299.

Plan B: Short if market failed to support above 13230. Targets are 13200 and 13162.

HSI

Hong Kong stocks pared early gains but still finished in the green on Friday, buoyed by renewed investor confidence.

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Plan A: Remain long if the market stays above 19844. Targets are 20156 and 20313.

Plan B: Consider short only if the market stays below 19844. Targets are 19688 and 19531.

WTI Crude

crude oil closed lower on Monday ahead of an expected hike to interest rates coming this week and following the weekend seizure of another US bank as worries over weaker demand amid slowing economies continue to dominate trade.

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Plan A: Remain long as long as oil price stays above 75.00. Targets are 76.56 and 77.34.

Plan B: Consider short only if oil price stays below 75.00. Targets are 74.22 and 73.44.

Gold

Gold prices edged lower on Monday as the dollar rose after better-than-expected U.S. manufacturing data, while markets await the Federal Reserve's interest rate hike decision this week.

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Plan A: Remain long as long as gold price stays above 1984.4. Targets are 2000 and 2011.7.

Plan B: Attempts short only if gold price stays below 1984.4. Targets are 1980.5 and 1972.7.

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.