WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Major U.S. averages climbed for a second-straight day on Tuesday, as easing worries about a possible banking crisis waned ahead of a policy announcement by the Fed on Wednesday.
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Plan A: Remain long as long as market trades above 32422. Targets are 32813 and 33008.
Plan B: Consider short if market stays below 32422. Targets are 32227 and 32031.
E-Mini S&P 500
Stocks rose on Tuesday as traders became optimistic on the financial sector’s outlook following Treasury Secretary Janet Yellen’s reassurances to safeguard against further banking crises. Wall Street marked its second day of gains ahead of the Federal Reserve’s announcement on interest rates Wednesday.
Wall Street is looking toward the Federal Reserve’s announcement on its monetary policy tightening path on Wednesday afternoon. Investors are now expecting a slower pace of tightening from the Federal Reserve in light of the banking crisis. Traders currently are pricing in a 86% chance of a quarter-point rate hike when the Fed wraps its two-day policy meeting on Wednesday, according to CME Group’s FedWatch tool. The probability of a pause is at 13.6%.
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Plan A: Short if market failed to support above 4005. Targets are 3992 and 3979.
Plan B: Long if market supported firm above 4005. Targets are 4017 and 4032.
E-Mini Nasdaq
First Republic Bank is considering scaling down its business if it fails to recover its large deposit outflows, according to a Reuters report on Tuesday.
The recent crisis in the banking sector will lead to excess tightening in bank lending standards, according to Bank of America. The firm expects tighter lending standards to put downward pressure on economic activity.
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Plan A: Short if market failed to support above 12742. Targets are 12718 and 12685.
Plan B: Long if market retraced but supported firm above 12742. Targets are 12777 and 12810.
HSI
Asia-Pacific markets rose on Tuesday after Wall Street staged a relief rally overnight on hopes the banking crisis may be easing, following the $3.2 billion takeover of Swiss bank Credit Suisse by rival UBS.
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Plan A: Remain long if the market stays above 19219. Targets are 19531 and 19688.
Plan B: Consider short only if the market stays below 19219. Targets are 19063 and 18906.
WTI Crude
crude oil closed higher on Tuesday as investors regained some confidence in the economic outlook following the weekend rescue of Credit Suisse and the collapse of two US banks early this month, though the Federal Reserve may test their resolve as the central bank's policy committee begins a two-day meeting likely to end with another hike to interest rates.
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Plan A: Remain long as long as oil price stays above 67.97. Targets are 70.31 and 71.09.
Plan B: Consider short only if oil price stays above 67.97. Targets are 67.19 and 66.41.
Gold
Gold dropped about 2% on Tuesday as Treasury yields jumped and easing worries over a banking crisis prompted some investors to cautiously return to riskier assets, while markets await the U.S. Federal Reserve's next interest rate decision.
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Plan A: Remain short as long as gold price stays below 1968.8. Targets are 1937.5 and 1929.7.
Plan B: Attempts long only if gold price stays above 1968.8. Targets are 1976.6 and 1984.4.
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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