WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stocks ended lower on Monday as investors shifted gears after considering the possibility that the U.S. Federal Reserve may take longer to start cutting interest rates.
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Plan A: Remain long as long as market trades above 33789. Targets are 34033 and 34180.
Plan B: Consider short if market stays below 33789. Targets are 33740 and 33691.
E-Mini S&P 500
The Dow Jones Industrial Average lost 34.99 points, or 0.1%, to end at 33,891.02. The 30-stock index made up some ground after losing more than 240 points earlier in the session. The S&P 500 slid 0.61% to close at 4,111.08.
Investors were taking some profits after the stock market’s hot start to the year. The S&P 500 is up more than 7% for 2023, while
Treasury bond yields rose, with the benchmark 10-year yield up by nearly 11 basis points at 3.64% and the 2-year yield adding around 18 basis points to 4.48%. The ICE U.S. Dollar Index rose as much as 0.76% Monday, further contributing to the decline in stocks.
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Plan A: Short if market failed to support above 4115. Targets are 4108 and 4092.
Plan B: Long if market supported firm above 4138. Targets are 4149 and 4159.
E-Mini Nasdaq
U.S. stocks fell Monday, led downward by the tech-heavy Nasdaq Composite, as investors grew increasingly cautious of rising bond yields.
The Nasdaq Composite has advanced for the last five weeks, a streak not seen since November 2021.
Investors will also watch Tuesday for Federal Reserve Chairman Jerome Powell’s remarks before the Economic Club of Washington. Last week, Powell’s comments on disinflation caused investors to bid shares higher and overlook another rate hike out of the central bank.
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Plan A: Long if market retraced but supported firm above 12450. Targets are 12502 and 12561.
Plan B: Short if market failed to support above 12450. Targets are 12398 and 12345.
HSI
Stocks in the Asia-Pacific mostly fell on Monday as a stronger-than-expected jobs report from the U.S. worrying investors the Federal Reserve has room for more interest rate hikes, as it continued its efforts to control inflation.
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Plan A: Remain short if the market stays below 21719. Targets are 21094 and 20938.
Plan B: Consider long only if the market stays above 21719. Targets are 22031 and 22500.
WTI Crude
crude oil closed higher on Monday after massive earthquakes in Turkey forced the closure of the export terminal serving the one-million barrel per day Baku-Tbilisi-Ceyhan pipeline, while hopes for rising demand from China offered support.
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Plan A: Remain long as long as oil price stays above 71.88. Targets are 75.78 and 78.13.
Plan B: Consider short only if oil price stays below 71.88. Targets are 71.09 and 70.31.
Gold
Gold edged higher on Monday, with investors banking on the precious metal's safe-haven appeal as concerns about an economic slowdown linger, after a stronger dollar and higher Treasury yields nudged prices to a one-month low.
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Plan A: Remain short as long as gold price stays below 1906.3. Targets are 1859.4 and 1843.8.
Plan B: Attempts long only if gold price stays above 1906.3. Targets are 1937.5 and 1968.8.
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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