27 April 2022 Foreign

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

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E-Mini Dow

US stocks tumbled on Tuesday, with the tech-heavy Nasdaq Composite closing at a session low ahead of financial results of tech giants Alphabet and Microsoft.

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Plan A: Remain short as long as market trades below 33984. Targets are 33203 and 32813.

Plan B: Consider long if market stays firm above 33203 and rebound. Targets are 33594 and 33984.

E-Mini S&P 500

U.S. stock futures were higher early Wednesday morning after the major averages continued their April sell-off amid concerns of an economic slowdown, and Wall Street considered earnings that came in after the bell.

The tech-heavy Nasdaq Composite dropped further into bear market territory, losing 3.95% and hitting a fresh 52-week low. The index is now sitting now roughly 23% off its high. The Dow Jones Industrial Average shed 809.28 points, or 2.4%. The S&P 500 lost 2.8%.

Facebook parent Meta is set to report earnings on Wednesday, with Apple and Amazon reporting earnings on Thursday. T-Mobile, Boeing, PayPal and Ford are also reporting earnings on Wednesday.

On the economic front, investors will be watching for the latest data on weekly mortgage applications, international trade and pending home sales.

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Plan A: Long if market supported firm above 4203. Targets are 4225 and 4250. 

Plan B : Short if market failed to support above 4203. Targets are 4182 and 4159.

E-Mini Nasdaq

U.S. stocks fell sharply on Tuesday with shares selling off into the close, as investors dumped equities on fears of an economic slowdown.

The tech-heavy Nasdaq Composite dropped 3.95% and hit a fresh 52-week low to close at 12,490.74. The index retreated further into bear market territory, sitting now about 23% off its high. The Dow Jones Industrial Average shed 809.28 points, or 2.4%, to 33,240.18. The S&P 500 lost 2.8% at 4,175.20.

For April, the S&P 500 is off 7.8%. The Nasdaq is down 12.2%, and the Dow has declined 4.2%.

Tech stocks led the decline Tuesday as investors did not wait around for Microsoft and Alphabet first-quarter results after the bell, fearing more blow-ups like the one seen in Netflix earlier in the earnings season.

“The risk-reward is just not there into big-cap tech earnings,” Satori Fund founder and senior portfolio manager Dan Niles told CNBC’s “TechCheck” on Tuesday. “I expect every single one of them to see forward numbers go down.”

Microsoft and Google parent Alphabet both saw shares close down more than 3% ahead of reporting earnings. Facebook parent Meta, Amazon and Apple also finished lower Tuesday, with earnings results slated for later this week.

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Plan A: Long if market supported firm above 13062. Targets are 13105 and 13155.

Plan B : Short if market failed to support above 13062. Targets are 13021 and 12975.

HSI

The Hong Kong Hang Seng Index edged up 0.3% as property and tech issues paced gains, but the Shanghai Composite again declined, off 1.4%, as traders looked for signs of government stimulus from Beijing against a backdrop of expanding COVID lockdowns.

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Plan A: Remain short if the market stays below 20313. Targets are 19375 and 19063.

Plan B: Consider long only if the market stays firm above 19063 and rebound. Targets are 19375 and 19688.

WTI Crude

Oil prices settled higher on Tuesday, rebounding in volatile trading as the market weighed China's plans to support its economy against a possible coronavirus lockdown in its capital Beijing.

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Plan A: Remain long as long as oil price stays above 100. Targets are 103.13 and 104.69.

Plan B: Consider short only if oil price stays below 100. Targets are 98.44 and 96.88.

Gold

Gold recovered slightly on Tuesday from a more than one-month trough in the previous session, as investors sought cover from fears of stalling global economic growth and soaring inflation.

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Plan A: Remain short as long as gold price stays below 1921.9. 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 1914.1.

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.