Wednesday, April 14, 2021

15 April 2021 Foreign

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


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E-Mini Dow


Wall Street indexes closed mixed on Wednesday, with the Nasdaq and S&P 500 falling despite another record intraday high for the latter while Dow gained modestly with big banks' stellar results on the first day of earnings season.

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Plan A : Attempt sell if market trades below 33559. Targets are 33419 and 33252.

Plan B : Consider long only if market supports firmly above 33559 and rebound. Targets are 33800 and 33939.



E-Mini S&P 500

The S&P 500 slipped from record levels in volatile trading on Wednesday amid a sell-off in technology shares, while investors digested the first batch of corporate earnings that largely exceeded expectations.

The broad equity benchmark dipped 0.4% to 4,124.66 after hitting a fresh record high earlier in the session. 

Bank stocks have risen sharply so far this year, with the S&P 500 financials sector gaining nearly 20%, easily outpacing the S&P 500. 

With the first-quarter earnings season now underway, investors will on Thursday pore over financial results from snack company PepsiCo, asset manager BlackRock and both Citigroup and Bank of America.

In other news, Federal Reserve Chair Jerome Powell on Wednesday said the central bank will reduce its bond purchases likely well before it hikes interest rates.

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Plan A : Long if market supported firm above 4133. Targets are 4148, 4162 and 4180.

Plan B : Short if market failed to support above 4133. Targets are  4109, 4089 and 4061.

E-Mini Nasdaq

Futures contracts tied to the major U.S. stock indexes ticked higher early morning trade on Thursday after the S&P 500 retreated from record levels during the regular session.

The Nasdaq Composite lost about 1% during regular trading as Tesla fell nearly 4%, Netflix and Facebook dropped more than 2% each, and Amazon, Microsoft and Apple all dipped at least 1%.

Coinbase's widely watched direct listing on Wednesday opened at $381 on the Nasdaq and shot up as high as $429, but shares quickly rolled over and closed at $328.28. As Coinbase shares reversed lower, bitcoin fell 1.5% to around $61,930 from a record high of more than $63,800. Crypto investors were hailing the company’s stock market debut as a major milestone for the industry after years of skepticism from Wall Street and regulators.

Investors will on Thursday review the Labor Department’s latest report on the number of Americans filing first-time claims for unemployment insurance. Economists polled by Dow Jones expect the government to report that another 710,000 filed claims for the first time during the week ended April 10.

March retail sales data, also due Thursday morning, are expected show a robust uptick in consumer spending, with some economists seeing a gain of 10% or more thanks to the arrival of the $1,400 stimulus checks. The consensus forecast is more modest growth of 6.1%.

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Plan A : Long only if market supported firm above 13885. Targets are 13915, 13950 and 13981.

Plan B : Short if market failed to support above 13885. Targets are 13844, 13803 and 13761.


HSI

Hong Kong shares ended higher on Wednesday, led by material and tech stocks, following overnight Wall Street gains after data showed U.S. inflation was not rising wildly as the economy reopens.

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Plan A : Attempt short if market trades below 28912. Targets are 28639 and 28539.


Plan B : Consider buy only if market able to hold resilient above 28539 and rebound. Targets are 28639 and 28750.



WTI Crude

Oil prices surged more than 4% on Wednesday, after a report from the International Energy Agency, followed by U.S. inventory data boosted optimism about returning demand for crude.

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Plan A : Remain buy as long as oil price trades firmly above 60.5. Targets are 62.8 and 63.9.

Plan B : Consider short only if oil price recovers but fails to breach above 62.8. Targets are 61.8 and 61.4.



Gold

Gold fell on Wednesday as an uptick in U.S. Treasury yields weighed on the non-yielding bullion's appeal, eclipsing support from a softer dollar.

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Plan A : Remain sell as long as gold price stays trading below 1752.4. Targets are 1730.3 and 1725.2

Plan B : Consider long only if gold price remain resilient above 1730.3 and rebound. Targets are 1752.4 and 1760.



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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29 April 2024 Foreign

                WTI Crude, Gold, HSI, Dow,  S&P 500 and Nasdaq If you like what we are doing, kindly like and share our page on FB. Foll...