WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
US equity benchmarks advanced Thursday as Meta Platforms rallied after releasing its quarterly earnings late Wednesday, while markets shrugged off an unexpected contraction in economic growth.
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Plan A: Remain long as long as market trades above 33594. Targets are 33887 and 34082.
Plan B: Consider short if market stays below 33594. Targets are 33496 and 33203.
E-Mini S&P 500
Stocks roared back Thursday, following a strong earnings report from Meta Platforms, as the market sought to recover from this month’s sell-off.
The tech-heavy Nasdaq Composite rose 3.1% to 12,871.53. The S&P 500 gained 2.5% to 4,287.50. The Dow Jones Industrial Average added 614.46 points, or 1.9%, at 33,916.39.
Stocks have struggled this month amid concerns about slowing global growth, rising inflation and the Federal Reserve’s monetary tightening.
U.S. gross domestic product unexpectedly declined in the first quarter by 1.4% from the year prior, compared with the 1% growth expected by economists surveyed by Dow Jones.
Some investors brushed off the economic contraction, citing the jump in prices and trade deficit as contributing the most to the decline.
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Plan A: Long only if market supported firm above 4307. Targets are 4328 and 4350.
Plan B: Short if market failed to support above 4307. Targets are 4286 and 4261.
E-Mini Nasdaq
Nasdaq 100 futures fell Thursday evening following an extravaganza of Big Tech earnings, with disappointments from Amazon and Apple.
Futures tied to the tech-heavy index fell 1.5%, while Dow Jones Industrial Average Futures slid 0.4% and S&P 500 futures retreated by 0.8%.
The moves are a big reversal for stocks, which posted big gains in regular trading. The Dow rose 614 points, or 1.9%, and the S&P 500 advanced 2.5%. The tech-heavy Nasdaq Composite jumped 3.1%.
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Plan A: Long if market supported firm above 13294. Targets are 13335 and 13382.
Plan B： Short if market failed to support above 13294. Targets are 13250 and 13199.
HSI
The Hong Kong Hang Seng Index finished up 1.7% after China Premier Li Keqiang promised measures to stabilize employment and unsnarl supply chains.
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Plan A: Remain long if the market stays above 20000. Targets are 20313 and 20625.
Plan B: Consider short only if the market stays below 19844. Targets are 19688 and 19531.
WTI Crude
Oil settled higher on Thursday on the increased likelihood that Germany will join other European Union member states in an embargo on Russian oil, which could further tighten supplies in the already stressed global crude market.
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Plan A: Remain long as long as oil price stays above 101.56. Targets are 106.25 and 109.38.
Plan B: Consider short only if oil price stays below 100. Targets are 98.44 and 96.88.
Gold
Gold prices lingered close to a 10-week trough on Thursday, hurt by a robust dollar and expectations of faster U.S. rate hikes.
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Plan A: Remain short as long as gold price stays below 1906.3. Targets are 1890.6 and 1875.
Plan B: Attempts long only if gold price stays firm above 1882.8 and rebound. Targets are 1898.4 and 1906.3.
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.
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