WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street ended the day lower on Tuesday after another tumultuous day of trading while oil jumped more than 2% as geopolitical tensions and Wednesday's Federal Reserve update occupied investor focus.
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Plan A: Remain short as long as market stays below 34316. Targets are 34000 and 33722.
Plan B: Consider long if market able to stabilize above 33722 and rebound. Targets are 34040 and 34316.
E-Mini S&P 500
The Dow Jones Industrial Average closed down Tuesday, but well off its session lows in another rollercoaster session as the Federal Reserve prepares investors for tighter monetary policy.
The blue-chip average shed 67.77 points, or 0.2%, to close at 34,297.73. The index swung from a nearly 819-point deficit at its lows to a roughly 226-point rally at its highs during the session. The S&P 500 dipped 1.2% to 4,356.45.The yield on the benchmark 10-year Treasury note resumed its 2022 gain Tuesday to around 1.78%. Bank of America and Citigroup each gained around 2%. Occidental Petroleum and APA Corp both rose more than 8%.
The 10-year Treasury yield has climbed this year as the Federal Reserve signaled it will begin tightening monetary policy as soon as March with a rate hike. Investors have rotated out of high-growth areas of the market in favor of safer bets.
The Dow Jones Industrial Average closed down Tuesday, but well off its session lows in another rollercoaster session as the Federal Reserve prepares investors for tighter monetary policy.
The blue-chip average shed 67.77 points, or 0.2%, to close at 34,297.73. The index swung from a nearly 819-point deficit at its lows to a roughly 226-point rally at its highs during the session. The S&P 500 dipped 1.2% to 4,356.45.
The yield on the benchmark 10-year Treasury note resumed its 2022 gain Tuesday to around 1.78%. Bank of America and Citigroup each gained around 2%. Occidental Petroleum and APA Corp both rose more than 8%.
The 10-year Treasury yield has climbed this year as the Federal Reserve signaled it will begin tightening monetary policy as soon as March with a rate hike. Investors have rotated out of high-growth areas of the market in favor of safer bets.
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Plan A: Long if market supported firmly above 4356. Targets are 4369, 4372 and 4385.
Plan B: Short only if the market failed to support above 4356. Targets are 4348, 4332 and 4327.
E-Mini Nasdaq
Stock futures were little changed during the early hours of Wednesday, following another wild session for the market.Microsoft shares rose 2% in after-hours trading, after the company issued better-than-expected quarterly revenue guidance. Earlier, the stock traded more than 4% lower after Microsoft’s latest quarterly report showed moderating revenue growth for its Azure cloud business.
Treasury yields have jumped sharply to start the year in anticipation of tighter monetary policy from the Fed. Last week, the benchmark 10-year note yield briefly broke above 1.9%. On Tuesday, the yield closed at 1.77% — that’s still more than 20 basis points above where it ended 2021.
Tech shares struggled amid rising rates. Nvidia, down 24% this year, lost 4.5% on the day. Microsoft lost 2.7% ahead of its earnings report after the bell.
Stock futures were little changed during the early hours of Wednesday, following another wild session for the market.
Microsoft shares rose 2% in after-hours trading, after the company issued better-than-expected quarterly revenue guidance. Earlier, the stock traded more than 4% lower after Microsoft’s latest quarterly report showed moderating revenue growth for its Azure cloud business.
Treasury yields have jumped sharply to start the year in anticipation of tighter monetary policy from the Fed. Last week, the benchmark 10-year note yield briefly broke above 1.9%. On Tuesday, the yield closed at 1.77% — that’s still more than 20 basis points above where it ended 2021.
Tech shares struggled amid rising rates. Nvidia, down 24% this year, lost 4.5% on the day. Microsoft lost 2.7% ahead of its earnings report after the bell.
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Plan A: Long if the market supported firmly above 14173. Targets are 14206, 14237 and 14260.
Plan B: Short if market failed to support above 14173. Targets are 14174, 14145 and 14110.
HSI
Hang Seng Index dropped 1.2% on Tuesday on weakened sentiment over concerns that the U.S. Federal Reserve would tighten policies and uncertainties in the market ahead of the incoming Chinese New Year holidays, with media firms leading the decline.
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Plan A: Remain sell as long as market trades below 24427. Targets are 24204 and 24095.
Plan B: Consider long if market supports firmly above 24095 and rebound. Targets are 24204 and 24374.
WTI Crude
Oil prices rose over 2% on Tuesday on concerns supplies could become tight due to Ukraine-Russia tensions, threats to infrastructure in the United Arab Emirates and struggles by OPEC+ to hit its targeted monthly output increase.
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Plan A: Attempt long if market trades firmly above 84.6. Targets are 86.0 and 87.1.
Plan B : Consider short if oil price surges but fails to breach above 86.0. Targets are 85.1 and 84.6.
Gold
Gold hit a more than two-month high on Tuesday as geopolitical concerns over Ukraine pushed investors toward safe havens including bullion, ahead of the U.S. Federal Reserve's meet that could offer cues on its monetary policy tightening plan.
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Plan A: Remain buy as long as gold trades firmly above 1832.1. Targets are 1843.9 and 1850.7.
Plan B: Consider short if gold price surges but fails to breach above 1850.7. Targets are 1840 and 1832.1.
Plan B: Consider short if gold price surges but fails to breach above 1850.7. Targets are 1840 and 1832.1.
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