25 April 2022 Foreign

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

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E-Mini Dow

Wall Street tumbled more than 2.5% on Friday, ensuring the three main benchmarks ended in negative territory for the week, as surprise earnings news and increased certainty around aggressive near-term interest rate rises took its toll on investors.

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Plan A: Remain short as long as market trades below 34375. Targets are 33398 and 33203.

Plan B: Consider long if market stays firm above 33203 and rebound. Targets are 33789 and 34180.

E-Mini S&P 500

Stocks plunged on Friday, with the Dow suffering its worst one-day loss since the throes of the pandemic, as the latest raft of corporate earnings and the prospect of rising rates spurred a wave of selling.

The Dow fell 981.36 points, or 2.8%, to 33,811.40. The S&P 500 was 2.8% lower at 4,271.78, for its worst day since March. The Nasdaq Composite declined by 2.6% to 12,839.29. Friday’s loss was the biggest for the Dow since Oct. 28, 2020.

Those losses put the Dow down 1.9% for the week, its fourth straight weekly decline and its ninth losing week of the last 11. The S&P 500 posted a 2.8% weekly loss, marking its third straight one-week decline. The Nasdaq was the laggard this week, losing 3.8%.

Wall Street is also bracing for what will be the busiest week yet in corporate earnings season. About 160 companies in the S&P 500 are expected to report earnings this week, and all eyes will be on reports from big tech companies, including Amazon, Apple, Google-parent Alphabet, Meta Platforms and Microsoft.

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Plan A: Long if the market is supported firmly above 4256. Targets are 4273 and 4301.

Plan B: Short if the market failed to support above 4256. Targets are 4235 and 4212.

E-Mini Nasdaq

U.S. stock futures fell on Monday amid a four-week losing streak for the Dow Jones Industrial Average as investors weighed the likelihood of rising interest rates. Wall Street is also bracing for a stacked week of earnings, including reports from major tech companies such as Amazon and Apple.

Dow Jones Industrial Average futures lost 256 points, or 0.76%. S&P 500 futures dipped 0.67% and Nasdaq 100 futures declined 0.52%.

Traders are also looking forward to a key measure of inflation this week. The personal consumer expenditures index is set to be released Friday before the bell. In February, the core PCE jumped 5.4%.

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Plan A: Long if the market is supported firmly above 13291. Targets are 13333 and 13380.

Plan B: Short if the market failed to support above 13291. Targets are 13250 and 13201.

HSI

The Hong Kong Hang Seng Index rallied from a weaker opening Friday but still finished off 0.2% as traders weighed the effects of mainland China's strict anti-COVID-19 measures on the nation's economy.

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Plan A: Remain short if the market stays below 20781. Targets are 20156 and 20000.

Plan B: Consider long only if the market stays firm above 20000 and rebound. Targets are 20313 and 20625.

WTI Crude

Oil slipped on Friday, posting a weekly loss of nearly 5%, on the prospect of weaker global growth, higher interest rates and COVID-19 lockdowns in China hurting demand even as the European Union considers a ban on Russian oil that would tighten supply.

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Plan A: Remain short as long as oil price stays below 103.13. Targets are 101.56 and 100.

Plan B: Consider long only if oil price stays above 100 and rebound. Targets are 101.56 and 103.13.

Gold

Gold fell 1% on Friday and was set for its biggest weekly decline since mid-March as signs of faster policy tightening by the Federal Reserve lifted Treasury yields and the dollar.

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Plan A: Remain short as long as gold price stays below 1953.1. Targets are 1929.7 and 1921.9.

Plan B: Attempts long only if gold price stays firm above 1921.9 and rebound. Targets are 1937.5 and 1945.3.

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.