19 Apr 2023 Foreign

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

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E-Mini Dow

Major U.S. stock indexes finished mixed and little changed on Tuesday as disappointing quarterly reports from Johnson & Johnson and Goldman Sachs were countered by gains in some big technology stocks as first-quarter earnings season kicked into gear.

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Plan A: Remain long as long as market trades above 33984. Targets are 34180 and 34277.

Plan B: Consider short if market stays below 33984. Targets are 33887 and 33789.

E-Mini S&P 500

The S&P 500 finished little changed Tuesday as traders digested a slew of earnings reports and their implications for the U.S. economy.

Despite Tuesday’s moves, and expectations for declining profits against a backdrop of persistent inflation and rising interest rates, earnings season has so far proven resilient. All the major averages are up since the period kicked off.

But investors warn that profits topping already low expectations won’t matter to a market staring at a Federal Reserve that’s continuing to tighten into a potential recession.

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Plan A: Long if market supported firm above 4143. Targets are 4153 and 4171.

Plan B: Short if market failed to support above 4143. Targets are 4133 and 4118.

E-Mini Nasdaq

The Reserve Bank of Australia warned of further tightening in monetary policy could come if needed, minutes released from its April meeting showed on Tuesday.

Even after last month’s dual bank failures sent shockwaves across the financial sector, more than 8 out of 10 of traders anticipate a 25 basis point increase next month, according to CME Group’s FedWatch tool. It marks a stark contrast to the calls for a halt in hiking in March.

Board members had debated between raising its benchmark interest rate by 25 basis point and holding the rates steady, adding the case for the latter was stronger.

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Plan A: Long if market retraced but supported firm above 13055. Targets are 13089 and 13122.

Plan B: Short if market failed to support above 13055. Targets are 13020 and 13000.

HSI

Hong Kong stocks fell on Tuesday even after data was released showing a forecast-beating jump in Chinese economic growth, with analysts saying the recovery appeared to be uneven.

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Plan A: Remain short if the market stays below 20781. Targets are 20313 and 20156.

Plan B: Consider long only if the market stays above 20781. Targets are 20938 and 21250.

WTI Crude

crude oil closed with a small gain on Tuesday as China reported a 4.5% rise in its first-quarter gross domestic product and the dollar weakened.

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Plan A: Remain long as long as oil price stays above 80.47. Targets are 82.03 and 82.81.

Plan B: Consider short only if oil price stays below 80.47. Targets are 80.08 and 79.69.

Gold

Gold prices clawed their way back above the key $2,000 level on Tuesday as the dollar and bond yields retreated, with investors weighing whether the U.S. Federal Reserve will pause its interest rate hike cycle after the May meeting.

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Plan A: Remain long as long as gold price stays above 2007.8. Targets are 2031.3 and 2039.1.

Plan B: Attempts short only if gold price stays below 2007.8. Targets are 2000 and 1992.2.

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.