6 Apr 2023 Foreign

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

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E-Mini Dow

US equity futures fell slightly on Thursday after Wall Street closed mainly in the red overnight amid signs of a slowing US economy ahead of crucial data to be released later this week.

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Plan A: Remain short as long as market trades below 33789. Targets are 33496 and 33301.

Plan B: Consider long if market stays above 33789. Targets are 33887 and 33984.

E-Mini S&P 500

The three major averages retreated on Tuesday, snapping four-day winning streaks for the Dow and S&P 500. Equities rose during the first quarter but remain well below their all-time highs.

U.S. Treasury yields fell on Wednesday, but the potential for further rate hikes from central banks is contributing to market volatility. New Zealand’s central bank overnight hiked rates by 50 basis points, noting that inflation was “too high and persistent.” Meanwhile, Cleveland Fed President Loretta Mester said Tuesday night that she thought the U.S. central bank still needs to raise rates further.

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Plan A: Long if market supported firm above 4078. Targets are 4086 and 4100.

Plan B: Short if market failed to support above 4078. Targets are 4063 and 4050.

E-Mini Nasdaq

The Nasdaq Composite fell on Wednesday for a third-straight losing session as investors shifted away from growth stocks amid signs that the U.S. economy is weakening.

Wednesday’s moves came as traders mulled over the latest ADP private payrolls report, which showed slowing job growth in March. That followed Tuesday’s job openings report that suggested the Federal Reserve’s efforts to cool the labor market might finally be having an effect. In February, the number of available positions fell below 10 million for the first time in nearly two years.

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Plan A: Long if market retraced but supported firm above 13104. Targets are 13145 and 13179.

Plan B: Short if market failed to support above 13104. Targets are 13072 and 13025.

HSI

Hong Kong shares fell on Tuesday on worries that a fresh spike in oil prices could fan inflation and force the Federal Reserve to ramp up interest rates more than expected.

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Plan A: Remain short if the market stays below 20469. Targets are 20234 and 20156.

Plan B: Consider long only if the market stays above 20469. Targets are 20547 and 20625.

WTI Crude

crude oil closed with a small loss on Wednesday, falling for a second-straight session as OPEC+ production cuts and an unexpected drop in US inventories fails to overcome concerns slowing economies will cut demand.

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Plan A: Remain long as long as oil price stays above 79.69. Targets are 81.25 and 82.81.

Plan B: Consider short only if oil price stays below 79.69. Targets are 78.13 and 77.34.

Gold

Gold closed with a small loss on Wednesday even as investors move to safe havens after a second-straight report showed slowing employment growth for the United States.

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Plan A: Remain short as long as gold price stays below 2046.9. Targets are 2031.3 and 2015.6.

Plan B: Attempts long only if gold price stays above 2046.9. Targets are 2062.5 and 2078.1.

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.