13 April 2022 Foreign

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

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E-Mini Dow

Wall Street turned rally to sell-off on Tuesday, reversing earlier gains as impending monetary tightening from the Federal Reserve once again pulled growth stocks back into red territory.

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Plan A: Remain short as long as market trades below 34570. Targets are 34082 and 33984.

Plan B: Consider long if market stays firm above 34082 and rebound. Targets are 34375 and 34570.

E-Mini S&P 500

Stocks fell on Tuesday, after an early morning bounce gave way to selling as investors weighed the latest U.S. inflation data. The report showed another sharp increase in prices for last month.

The S&P 500 declined 0.34% to 4,397.45.

Consumer prices in March surged 8.5% from a year ago, slightly higher than expected and at their highest levels since 1981, according to data from the Labor Department on Tuesday. Meanwhile, core CPI — which excludes food and energy prices — rose less than expected; it climbed 0.3% in March, while economists polled by Dow Jones expected a gain of 0.5%. Core prices on an annual basis were up 6.5%.

The 10-year Treasury yield retreated from a three-year high following the report as traders hoped the core reading could mean inflation is showing signs of peaking. The benchmark note fell more than 6 basis points to about 2.72% following the CPI report.

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Plan A: Long if market retraced and supported firm above 4419. Targets are 4421, 4434 and 4447. 

Plan B : Short if market failed to support above 4419. Targets are 4406, 4397 and 4381.

E-Mini Nasdaq

Stocks futures were flat in overnight trading as investors weighed the latest inflation data for March.

Nasdaq Composite fell 0.30% to 13,371.57.

The high inflation numbers raised expectations of tighter monetary policy from the Federal Reserve, which investors fear could slow the economy. The Fed raised rates at its March meeting, and it’s expected to hike more throughout the year.

Seven sectors ended the day in the negative led by financials. Technology also struggled, with Microsoft and Meta closing down about 1%. Nvidia fell 1.9% and Advanced Micro Devices fell 2.3%, continuing a string of losses in the semiconductor industry.

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Plan A: Long if market supported firm above 14038. Targets are 14069 and 14093.

Plan B: Short if market failed to support above 14038. Targets are 14003 and 13972.

HSI

The Hong Kong Hang Seng Index opened evenly, see-sawed, but then closed up 0.5% after Beijing resumed approvals for new video games, suspended since July. The upside received a boost also after the China Securities Regulatory Commission again advised companies to buy back shares to raise equity prices.

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Plan A: Remain long if the market trades firm above 20938. Targets are 21563 and 21875.

Plan B: Consider short only if market surges but failed to break 21787 and retrace. Targets are 21094 and 20938

WTI Crude

Oil prices settled higher on Tuesday as lockdowns eased in Shanghai and as Russian oil and gas condensate production fell to 2020 lowsand OPEC warned it would be impossible to replace potential supply losses from Russia.

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Plan A: Remain long as long as oil price stays above 96.88. Targets are 103.13 and 106.25.

Plan B: Consider short only if oil price stays below 99.22. Targets are 97.66 and 96.09.

Gold

Gold advanced more than 1% on Tuesday as Treasury yields eased after U.S. inflation data largely met expectations, reducing the likelihood of long-term aggressive policy tightening by the Federal Reserve.

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Plan A: Remain long as long as gold price stays above 1953.1. Targets are 1984.4 and 2000.

Plan B: Attempts short if gold price surges but failed to break above 1982.7. Targets are 1945.3 and 1937.5.

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.