27 Jan 2023 Foreign

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

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E-Mini Dow

Wall Street ended a choppy session higher on Thursday as investors grappled with an onslaught of economic data and a string of mixed corporate earnings, all while eyeing the clock as it ticks down toward next week's Federal Reserve monetary policy meeting.

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Plan A: Remain long as long as market trades above 33691. Targets are 34082 and 34180.

Plan B: Consider short if market stays below 33691. Targets are 33594 and 33496.

E-Mini S&P 500

Stocks rose Thursday as traders combed through the latest batch of corporate earnings and fourth-quarter gross domestic product that came in above expectations.

GDP data released Thursday showed the economy expanded at an annualized rate of 2.9% during the fourth quarter, the Commerce Department said. That’s above the Dow Jones estimate for 2.8%, but it represents a slight cooldown from the third-quarter reading.

Focus now shifts to next week’s Federal Reserve policy meeting, where the central bank is widely expected to announce a 25 basis point increase as it battles high inflation. Investors will be on the lookout for clue into how much higher the Fed intends to hike before it cuts rates.

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Plan A: Long only if market supported firm above 4045. Targets are 4059 and 4061.

Plan B: Short if market failed to support above 4045. Targets are 4038 and 4021.

E-Mini Nasdaq

The Nasdaq Composite jumped 1.76% to settle at 11,512.41. The Dow Jones Industrial Average rose 205.57 points, or 0.61%, to end at 33,949.41.

A mixed earnings season trudged on, with strong results from Tesla giving the tech-heavy Nasdaq and electric vehicle stocks a boost. Tesla jumped nearly 11% after posting record revenue and solid earnings. Beaten-up technology giants Microsoft, Nvidia, Amazon and Alphabet also gained. IBM fell about 4.5% despite a revenue beat.

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Plan A: Long if market supported firm above 11873. Targets are 11903 and 11942.

Plan B: Short if market failed to support above 11873. Targets are 11845 and 11801.

HSI

On the first trading day following the Lunar New Year break, the benchmark Hang Seng Index jumped 2.4% to close at its highest since March 1.

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Plan A: Remain long if the market stays above 22031. Targets are 22813 and 23125.

Plan B: Consider short only if the market stays below 22031. Targets are 21875 and 21563.

WTI Crude

crude oil closed higher on Thursday as expectations Chinese demand is on the rise continue to motivate buyers, while US inventories rose less than expected last week.

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Plan A: Remain long as long as oil price stays above 80.47. Targets are 82.03 and 82.81.

Plan B: Consider short only if oil price stays below 80.47. Targets are 80.08 and 79.69.

Gold

Gold prices fell on Thursday due to a firmer dollar and strong U.S. economic data that could prompt the Federal Reserve to keep interest rates higher for longer.

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Plan A: Remain short as long as gold price stays below 1937.5. Targets are 1921.9 and 1914.1.

Plan B: Attempts long only if gold price stays above 1937.5. Targets are 1945.3 and 1953.1.

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.