26 April 2022 Foreign

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

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E-Mini Dow

US stocks turned higher late in the session on Monday ahead of earnings reports from big tech names later this week.

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Plan A: Remain short as long as market trades below 34375. Targets are 33594 and 33203.

Plan B: Consider long if market stays firm above 33594 and rebound. Targets are 34180 and 34375.

E-Mini S&P 500 

The Dow Jones Industrial Average cut a nearly 500-point intraday loss Monday as technology names like Microsoft rallied amid falling interest rates.

The blue-chip average rose 238.06 points, or 0.7%, to 34,049.46. The index was down as much as 488 points earlier in the session. The S&P 500 ticked up 0.6% to 4,296.12. The tech-heavy Nasdaq Composite gained 1.3% at 13,004.85.

Concerns about a global economic slowdown amid Covid outbreaks in China sent interest rates lower. The 10-year Treasury yield pulled back to the 2.8% level.

Wall Street is bracing for a stacked week of earnings, particularly reports from major technology companies. About 160 companies in the S&P 500 are expected to report earnings this week, and all eyes will be on results from mega-cap tech names, including Amazon, Apple, Alphabet, Meta Platforms and Microsoft.

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Plan A: Long if market supported firm above 4272. Targets are 4293 and 4315.

Plan B: Short if market failed to support above 4272. Targets are 4250 and 4228.

E-Mini Nasdaq

Stock futures were little changed in the early hours of Tuesday morning after stocks bounced in the afternoon and ahead of Big Tech earnings.

In regular trading Monday, the Nasdaq Composite jumped 1.3%. The Dow advanced 0.7%, after cutting a 500-point loss from earlier in the day, and the S&P 500 gained 0.6%.

The moves came as tech names like Microsoft, Alphabet and Meta Platforms rallied in the afternoon, amid falling interest rates and ahead of an intense week of earnings for mega cap tech stocks. Twitter also jumped after its board accepted Tesla CEO's offer to take it private.

The bounce was welcomed by investors after stocks ended the previous week on a sour note, with the Dow falling to its fourth down week in a row and the S&P and Nasdaq hitting three-week losing streaks Friday. The tech-heavy Nasdaq is attempting to break out of bear market territory, sitting 19.8% from its record.

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Plan A: Long if market supported firm above 13554. Targets are 13599 and 13641.

Plan B: Short if market failed to support above 13554. Targets are 13510 and 13471.

HSI

The Hong Kong Hang Seng Index opened lower and declined throughout the session, finishing off 3.7% as China authorities extended strict anti-pandemic lockdowns to Beijing, the nation's capital. The Shanghai Composite fell 5.1% on the day.

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Plan A: Remain short if the market stays below 20625. Targets are 19688 and 19063.

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

WTI Crude

Oil slumped about 4% on Monday to its lowest in two weeks on growing worries about the global energy demand outlook due to prolonged COVID-19 lockdowns in Shanghai and potential increases in U.S. interest rates.

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Plan A: Remain short as long as oil price stays below 101.56. Targets are 98.44 and 95.31.

Plan B: Consider long only if oil price stays above 95.31 and rebound. Targets are 98.44 and 100.

Gold

Gold prices fell on Monday to their lowest in four weeks, as bets for an increasingly aggressive and hawkish U.S. Federal Reserve approach to tightening monetary policy boosted the dollar and pressured demand for bullion.

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Plan A: Remain short as long as gold price stays below 1929.7. Targets are 1898.4 and 1890.6.

Plan B: Attempts long only if gold price stays firm above 1898.4 and rebound. Targets are 1906.3 and 1921.9.

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.