WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The Dow Jones Industrial Average added 141.43, or 0.43%, to close at 32,859.03.
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Plan A: Remain long as long as market trades above 32617. Targets are 33008 and 33105.
Plan B: Consider short if market stays below 32617. Targets are 32520 and 32422.
E-Mini S&P 500
The S&P 500 rose Thursday, as investors bet the worst of the regional bank crisis has passed.
The Cboe Volatility Index wall Street’s preferred measure of how turbulent the S&P 500 will be over the next 30 days, pulled back to the 19 level after reaching 30 in the middle of March. Wall Street’s fear gauge is back to where it was when the month began.
Weekly jobless claims increased by 7,000 to 198,000, adding to hopes that the Federal Reserve could slow down its tightening campaign because the labor market is cooling.
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Plan A: Short if market failed to support above 4035. Targets are 4012 and 3992.
Plan B: Long if market supported firm above 4035. Targets are 4052 and 4067.
E-Mini Nasdaq
For the month, the Nasdaq Composite is up more than 4%. The S&P 500 has gained 2% as investors shook off the collapse of Silicon Valley Bank and yet another rate increase from the Fed.
The VanEck Vector Semiconductor ETF (SMH) rose more than 1% on Thursday, reaching its highest level since April 5, 2022. KLA, ASML, Advanced Micro Devices and On Semiconductor contributed to the gain.
The SMH has been on fire to start the year, rising roughly 30%. That puts it on track for its biggest quarterly gain since the second quarter of 2020.
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Plan A: Short if market failed to support above 12866. Targets are 12831 and 12800.
Plan B: Long if market retraced but supported firm above 12866. Targets are 12897 and 12924.
HSI
Asian shares were headed for a second quarterly gain on Friday while bonds were enjoying the best month since 2008, but the market was braced for a stormy session after an upside surprise in German CPI raised the stakes for U.S. inflation data.
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Plan A: Remain long if the market stays above 20078. Targets are 20391 and 20547.
Plan B: Consider short only if the market stays below 20078. Targets are 20000 and 19922.
WTI Crude
Oil prices were up more than 1% amid concerns over shrinking U.S. stockpiles and a halt to exports from a region in Iraq.
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Plan A: Remain short as long as oil price stays below 73.44. Targets are 71.88 and 71.09.
Plan B: Consider long only if oil price stays above 73.44. Targets are 74.22 and 75.00.
Gold
Gold prices edged up on Friday, en route to their best monthly performance since July 2020, as the recent banking system crisis led to expectations of a less-aggressive U.S. Federal Reserve, making bullion an attractive bet.
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Plan A: Remain long as long as gold price stays above 1968.8. Targets are 1984.4 and 1992.2.
Plan B: Attempts short only if gold price stays below 1968.8. Targets are 1960.9 and 1953.1.
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.
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