29 Mar 2023 Foreign

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

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E-Mini Dow

Wall Street's main indexes closed lower on Tuesday, dragged down mostly by mega-cap tech titans that account for than one-quarter of the S&P 500's market capitalization, as rising interest rates and economic growth fears gave investors pause.

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Plan A: Remain long as long as market trades above 32422. Targets are 32715 and 32910.

Plan B: Consider short if market stays below 32422. Targets are 32324 and 32227.

E-Mini S&P 500

The S&P 500 fell 0.16%, ending at 3,971.27. 

Worries about the crisis among U.S. regional banks have been assuaged thanks in part to policymakers’ efforts to alleviate the challenges. Investors’ fear that higher rates could push the economy into a recession came back into focus.

However, bank stocks slipped on Tuesday following a contentious hearing at the Senate Banking Committee. Three top regulators each said they favor more stringent rules for banks with more than $100 billion in assets.

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Plan A: Short if market failed to support above 3999. Targets are 3982 and 3977.

Plan B: Long if market supported firm above 3999. Targets are 4015 and 4030.

E-Mini Nasdaq

The Nasdaq Composite  fell Tuesday as an uptick in rates put pressure on the tech-heavy index.

The tech-heavy Nasdaq shed 0.45% to close at 11,716.08. The Dow Jones Industrial Average lost 37.83 points, or 0.12%, and closed at 32,394.25.

Bond yields rose, with the rate on the 2-year U.S. Treasury note climbing back above 4%, putting pressure on stocks and tech names in particular. Rising rates make future profits, like those promised by growth companies, less attractive.

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Plan A: Short if market failed to support above 12697. Targets are 12666 and 126628.

Plan B: Long if market retraced but supported firm above 12697. Targets are 12725 and 12759.

HSI

Most Asian stock markets rose on Tuesday as sentiment improved amid easing fears of a looming banking crisis, although Chinese stocks lagged their peers as a string of weak earnings brewed doubts over a swift economic recovery this year.

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Plan A: Remain long if the market stays above 19688. Targets are 20313 and 20469.

Plan B: Consider short only if the market stays below 19688. Targets are 19531 and 19375.

WTI Crude

crude oil closed at a two-week high on Tuesday, rising for a second session as investors return to risk assets as fears for the health of the banking sector fade, while supplies remain constrained on the suspension of shipments from Iraq's Kurdistan region.

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Plan A: Remain long as long as oil price stays above 71.88. Targets are 74.22 and 75.00.

Plan B: Consider short only if oil price stays below 71.88. Targets are 71.09 and 70.31.

Gold

Gold prices rose on Tuesday, drawing support from a weaker U.S. dollar even as higher bond yields and easing worries about a full-blown banking crisis limited gains for the safe-haven asset.

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Plan A: Remain long as long as gold price stays above 1960.9. Targets are 1976.6 and 1984.4.

Plan B: Attempts short only if gold price stays below 1960.9. Targets are 1945.3 and 1937.5.

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.