Wednesday, April 6, 2022

07 April 2022 Foreign

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


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E-Mini Dow


Stock indexes held losses on Wednesday after the Federal Reserve released minutes from its last meeting, showing details of the central bank's balance sheet runoff, while the U.S dollar index hit its highest since late last May.

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Plan A: Remain short as long as market trades below 34766. Targets are 34180 and 33984.

Plan B: Consider long if market stays firm above 34178. Targets are 34570 and 34766.




E-Mini S&P 500

Stock futures were flat in overnight trading Wednesday after a two-day losing streak for the major averages as investors digested the Federal Reserve’s plans to tighten monetary policy.

The S&P 500 slid 0.97% to 4,481.15.

The back-to-back sell-off came as Fed meeting minutes showed that officials planed to reduce their trillions in bond holdings with a consensus amount around $95 billion. Meanwhile, policymakers indicated that one or more 50-basis-point interest rate hikes could be warranted to battle surging inflation.

Officials in recent days have tried to warn investors even faster policy tightening could be ahead. The findings, coupled with recent remarks from Fed Governor Lael Brainard and others, seemed to signal that sentiment.

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Plan A: Long if market retraced and supported firm above 4467. Targets are 4479, 4482 and 4493. 

Plan B : Short if market failed to support above 4467. Targets are 4455, 4441 and 4436.




E-Mini Nasdaq

Stocks fell for a second day on Wednesday and rates soared to new heights after the Federal Reserve gave more guidance on how fast it will tighten monetary policy to fight inflation, raising concerns it may slow the economy.

Nasdaq Composite sank another 2.22% to 13,888.82.

The 10-year Treasury yield jumped above 2.65% to a three-year high on Wednesday and remained near that high following the release of the Fed meeting minutes. The rate ended Monday at 2.40%. The minutes were from the Fed’s March meeting when it raised rates by a quarter point and indicated six more hikes of that magnitude were coming this year.

Tech shares led Wednesday’s slide, falling again for a second day as investors rotated out of the group and braced for higher rates to slow the economy.

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Plan A: Long if market supported firm above 14473. Targets are 14509 and 14533.

Plan B: Short if market failed to support above 14473. Targets are 14447 and 14411.


HSI

Hang Seng index ended lower on Wednesday, while China shares weighed by the country's most severe COVID-19 wave since the Wuhan outbreak and a survey showing March services activity contracted at the steepest pace in two years.

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Plan A: Remain short as long as market trades below 22188. Targets are 21719 and 21563.

Plan B: Consider long if market stays firm above 21563. Targets are 21875 and 22188






WTI Crude


Oil futures fell sharply on Wednesday after large consuming nations said they would release oil from reserves to counter tightening supply and hawkish minutes from the U.S. central bank that bolstered the dollar.

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Plan A: Remain short as long as oil price stays below 101.56. Targets are 95.31 and 93.75.

Plan B: Consider long only if oil price stay firm above 95.73 and rebound. Targets are 98.44 and 100.






Gold


Gold prices held steady after Wednesday's release of the minutes of the Federal Reserve meeting in March, as the metal's appeal as a safe haven and inflation hedge offset an expected 50 basis point rate hike by the U.S. central bank.

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Plan A: Remain short as long as gold price stays below 1937.5. Targets are 1921.9 and 1914.1.

Plan B: Attempts long if gold price well support above 1918 and rebound. Targets are 1925.8 and 1933.6.



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.     

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29 April 2024 Foreign

                WTI Crude, Gold, HSI, Dow,  S&P 500 and Nasdaq If you like what we are doing, kindly like and share our page on FB. Foll...