U.S. Stocks 

Fundamental Analysis: 

The U.S. stock market’s Dow Jones Industrial Average fell more than 1% on Tuesday, 17th January 2023, weighed down by weak results from Goldman Sachs.

Tesla jumped to help the Nasdaq hold on to gains as the market focused on corporate earnings season.

Tesla climbed after news of a January surge in Chinese sales helped the growth stock index post gains, but small-cap and value stocks fell as fears of a recession unnerved investors.

Earnings reports from Goldman Sachs and Morgan Stanley capped a mixed quarter for the big banks. Many big banks have set aside emergency funds to deal with a potential recession.

Goldman Sachs plunged 6.44% after the bank reported a larger-than-expected drop in quarterly profit, causing the biggest drag on the price-weighted Dow.

The value of Dow components is proportional to their contribution to the index, unlike the market-cap-weighted S&P 500.

Goldman Sachs recorded its biggest one-day percentage drop in a year. Tesla jumped 7.43%, allowing the Nasdaq to hold gains.

Technical Analysis:

(Dow 30, 1-hour chart) 

Execution Insight: 

The Dow today pays attention to the 33949-line. If the Dow runs stably above the 33949-line, then pay attention to the suppression strength of the 34221 and 34477 positions.

Hong Kong Stocks 

Fundamental Analysis: 

U.S. stocks were mixed overnight, with Chinese stocks pulling back.

Hong Kong stocks opened lower, Hang Seng Index (HSI) was down 0.29%, Hang Seng China Enterprises Index (HSCEI) was down 0.31%, Hang Seng TECH Index (HSTECH) was down 0.5%.

On the market, large technology stocks diverged, a total of 88 games were approved in January, NetEase, Inc. (9999.HK) opened nearly 5% higher, Tencent Holdings Limited (0700.HK) rose 1.6%, JD.com, Inc. (9618.HK) and Baidu, Inc. (9888.HK) fell 3%, while Meituan (3690.HK) fell 1.6%.

Biotech stocks were partly lower, New Horizon Health Limited (6606.HK) fell 5%, auto stocks, beer stocks, sporting goods stocks, Apple concept stocks, restaurant stocks generally fell.

On the other hand, U.S. stocks Tesla rose over 7% overnight, Tesla concept stocks strengthened, domestic housing stocks and property management stocks were mixed.

New Oriental Education & Technology Group Inc. (9901.HK) fell nearly 12% and Koolearn Technology Holding Limited (1797.HK) fell more than 5%.

Technical Analysis: 

(HK50, 1-hour chart) 

Execution Insight: 

HK50 pays attention to the 21450-line today. If HK50 can run stably above the 21450-line, then pay attention to the suppression strength at the two positions of 22127 and 22785.

FTSE China A50 Index 

Technical Analysis: 

(FTSE China A50, 1-hour chart) 

Execution Insight: 

FTSE China A50 pays attention to the 13887-line today. If A50 runs stably below the 13887-line, it will pay attention to the support strength of the 13653 and 13320 positions. If the A50 runs above the 13887-line, it will open up further upside space.

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