Tuesday, February 28, 2023

1 Mar 2023 Foreign

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



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E-Mini Dow

Stocks lost the battle to end green on Tuesday with all three major indexes closing the day and the month lower, as concerns about further rate hikes from the Federal Reserve continued to weigh on risk sentiment.

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Plan A: Remain short as long as market trades below 32910. Targets are 32422 and 32227.

Plan B: Consider long if market stays above 32910. Targets are 33105 and 33203.


E-Mini S&P 500

The major averages fell on Tuesday to round out a tough month for the stock market.

Despite a solid start to the year, all of the major indexes posted their second negative month in three. The Dow ended 4.19% lower for the month and has dipped 1.48% year to date. The S&P 500 and Nasdaq Composite lost about 2.61% and 1.11% in February, respectively, but are still higher year to date.

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Plan A: Short if market failed to support above 3970. Targets are 3960 and 3942.

Plan B: Long if market supported firm above 3970. Targets are 3985 and 4002.



E-Mini Nasdaq

Those losses came after a strong start to the year for stocks; the S&P 500 rallied more than 6% in January. However, a sharp jump in Treasury yields this month dented investor sentiment for stocks, as traders feared that higher Federal Reserve rates would remain in place for longer.

On Tuesday, the benchmark 10-year U.S. Treasury note hit its highest level since November.

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Plan A: Short if market failed to support above 11986. Targets are 11953 and 11924.

Plan B: Long if market retraced but supported firm above 11986. Targets are 12012 and 12048.

HSI
The Hang Seng index fell 0.69% as Hong Kong’s Chief Executive John Lee announced to drop its mask mandate starting March 1. The Hang Seng Tech index meanwhile, fell 1.42%.

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Plan A: Remain short if the market stays below 20156. Targets are 19531 and 19375.

Plan B: Consider long only if the market stays above 20156. Targets are 20313 and 20469.

WTI Crude
crude oil closed higher on Tuesday as expectations for higher demand offset ongoing concerns rising interest rates will push the United States into recession.

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Plan A: Remain long as long as oil price stays above 75. Targets are 78.13 and 78.91.

Plan B: Consider short only if oil price stays below 75. Targets are 74.22 and 73.44.


Gold
Gold prices on Tuesday were headed for their biggest monthly decline since June 2021 as a stronger dollar and fears that the U.S. Federal Reserve would keep raising interest rates weighed on the non-yielding asset's appeal.
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Plan A: Remain long as long as gold price stays above 1820.3. Targets are 1839.8 and 1847.7.
Plan B: Attempts short only if gold price stays below 1820.3. Targets are 1812.5 and 1808.6.


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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29 April 2024 Foreign

                WTI Crude, Gold, HSI, Dow,  S&P 500 and Nasdaq If you like what we are doing, kindly like and share our page on FB. Foll...