9 Feb 2023 Foreign

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

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E-Mini Dow

U.S. stocks ended down on Wednesday, paring most of the previous session's strong gains, with tech-focused shares leading the way lower.

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Plan A: Remain short as long as market trades below 34082. Targets are 33936 and 33789.

Plan B: Consider long if market stays above 34082. Targets are 34131 and 34229.

E-Mini S&P 500

For the first quarter of 2023, 42 companies in the S&P 500 have issued negative earnings guidance, according to Refinitiv. Meanwhile, eight have issued positive guidance, while many others have not changed their guidance or issued any to begin with. That’s a higher share of companies with negative expectations than the historical average, Refinitiv reported.

Around 69% of the 297 S&P 500 companies that have reported fourth-quarter earnings so far beat analysts’ estimates, Refinitiv said, though many analysts lowered their expectations for the quarter amid rising concerns about the health of the economy. Just over 27% missed analyst consensus estimates for the quarter.

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Plan A: Short if market failed to support above 4168. Targets are 4153 and 4140.

Plan B: Long if market supported firm above 4168. Targets are 4175 and 4188.

E-Mini Nasdaq

U.S. stocks slid Wednesday as investors returned focus to the latest batch of corporate earnings. Wall Street also continued to weigh the outlook for future Federal Reserve policy moves.

The move lower marks a turn from Tuesday’s rally, which was mainly driven by Fed Chair Jerome Powell’s remarks that inflation has started easing. His comments reiterated those given at his press conference last week, further bolstering investor hopes that the central bank will soon pause or pivot on interest rate hikes.

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Plan A: Long if market retraced but supported firm above 12570. Targets are 12593 and 12629.

Plan B: Short if market failed to support above 12570. Targets are 12549 and 12518.

HSI

Hong Kong stocks wavered as Chinese tech companies langusihed amid worries about corporate earnings and fund outflows, while investors reassess rate outlook after Federal Reserve Chair Jerome Powell said borrowing costs need to keep rising to put a lid on inflation.

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Plan A: Remain short if the market stays below 21406. Targets are 20938 and 20781.

Plan B: Consider long only if the market stays above  21406. Targets are 21563 and 21719.

WTI Crude

crude oil rose for a third-straight session on Wednesday even as a report showed another rise in US inventories last week as Federal Reserve chair Jerome Powell reassured the market that the central bank will not turn more hawkish despite strong economic data.

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Plan A: Remain long as long as oil price stays above 75.78. Targets are 79.69 and 80.47.

Plan B: Consider short only if oil price stays below 75.78. Targets are 75 and 74.22.

Gold

Gold prices edged back up in a choppy session on Wednesday, as investors looked forward to more economic data to gauge the U.S. Federal Reserve's rate-hike strategy.

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Plan A: Remain short as long as gold price stays below 1898.4. Targets are 1875 and 1867.2.

Plan B: Attempts long only if gold price stays above 1898.4. 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.