6 Mar 2023 Foreign

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

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E-Mini Dow

Wall Street rallied on Friday to end a volatile week, as U.S. Treasury yields eased and economic data helped investors look past the growing likelihood that the Federal Reserve will have to keep its restrictive policy in place until late in the year.

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Plan A: Remain long as long as market trades above 33008. Targets are 33594 and 33789.

Plan B: Consider short if market stays below 33008. Targets are 32813 and 32617.

E-Mini S&P 500

U.S. stock futures inched up Monday morning as Wall Street looked ahead to a week filled with economic data and the latest commentary from the Federal Reserve.

Traders are coming off a positive week for the major averages. The Dow industrials added 1.75% last week, ending a four-week losing streak. The S&P 500 advanced 1.90%, while the Nasdaq capped the week with a 2.58% pop.

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Plan A: Short if market failed to support above 4051. Targets are 4032 and 4022.

Plan B: Long if market supported firm above 4051. Targets are 4068 and 4079.

E-Mini Nasdaq

Those gains come even as the yield on the benchmark 10-year Treasury note rose above the psychological 4% level at various points last week. An upward move in the 10-year yield raises borrowing costs for consumers and could signal a drop in investor confidence.

Important catalysts this week include congressional testimony Tuesday and Wednesday from Fed chair Jerome Powell, who will guide investors on how the central bank is thinking about inflation and its rate-hiking campaign going forward.

Traders are also anticipating the February jobs report on Friday, which follows January’s blockbuster report that showed the economy added 517,000 payrolls. Economists polled by Dow Jones are expecting 225,000 jobs added last month.

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Plan A: Short if market failed to support above 11986. Targets are 11953 and 11924.

Plan B: Long if market retraced but supported firm above 11986. Targets are 12012 and 12048.

HSI

China and Hong Kong shares rose on Friday, led by semiconductors and tech stocks, as a private sector survey confirmed prospects of a strong recovery in the world's second-biggest economy.

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Plan A: Remain long if the market stays above 20469. Targets are 20781 and 20938.

Plan B: Consider short only if the market stays below 20469. Targets are 20313 and 20156.

WTI Crude

crude oil closed higher Friday on rising China demand, after briefly plunging after a report the United Arab Emirates considered leaving OPEC amid a rift with Saudi Arabia.

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Plan A: Remain long as long as oil price stays above 77.34. Targets are 80.47 and 81.25.

Plan B: Consider short only if oil price stays below 77.34. Targets are 75.78 and 74.22.

Gold

Gold prices climbed to a two-week high on Friday and were heading for their first weekly rise in five as a pullback in the U.S. dollar and Treasury yields offered some respite from prospects of more rate hikes from the Federal Reserve.

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Plan A: Remain long as long as gold price stays above 1843.8. Targets are 1867.2 and 1875.

Plan B: Attempts short only if gold price stays below 1843.8. Targets are 1835.9 and 1828.1.

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.