Thursday, April 15, 2021

16 April 2021 Foreign

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


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E-Mini Dow


The Dow closed above 34,000 for the first time on Thursday as the blue-chip benchmark and S&P 500 posted fresh record highs on a tech stock rally fueled by falling bond yields and strong March U.S. retail sales.

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Plan A : Remain buy as long as market trades firmly above 33591. Targets are 33939 and 34554.

Plan B : Consider short only if market fails to hold firm above 33939. Targets are 33652 and 33591.



E-Mini S&P 500

U.S. stocks climbed to record levels on Thursday after key companies reported strong earnings and fresh economic data pointed to a rebound in consumer spending and the jobs market.

The S&P 500 gained 1.1% to 4,170.42, reaching a record high. The market has been grinding higher to reach new records in recent sessions amid the economic reopening and trillions of dollars in stimulus. The S&P 500 has gained 11% in 2021 with energy and financials up the most year to date.

Retail sales surged 9.8% in March as additional stimulus sent consumer spending soaring, the Commerce Department reported Thursday. That number topped the Dow Jones estimate of a 6.1% gain.

A separate report on Thursday showed that first-time filings for unemployment insurance dropped to the lowest level since March 2020. The Labor Department reported 576,000 new jobless claims for the week ended April 10. Economists polled by Dow Jones expected a total of 710,000.

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Plan A : Short if market failed to support above 4148. Targets are 4122, 4099 and 4074.

Plan B : Long if market retraced but supported firm above 4148. Targets are 4163, 4178 and 4200.



E-Mini Nasdaq

Stock futures were little changed in overnight trading on Thursday after the Dow Jones Industrial Average crossed the 34,000 threshold for the first time ever.

Technology shares rebounded as bond yields fell. The so-called FAANG stocks – Facebook, Amazon, Apple, Netflix and Alphabet – all climbed more than 1%. The 10-year Treasury yield dropped 8 basis points below 1.56%. Earlier in the year, higher rates caused investors to dump growth-oriented stocks.

Investor sentiment was boosted by economic data on Thursday that pointed to a rebound in consumer spending and the jobs market.

Wall Street is poised to wrap up another winning week. The S&P 500 has gained 1% this week, on pace for its fourth straight positive week. The Dow has climbed 0.7%, while the Nasdaq is up 1% through Thursday.

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Plan A : Short if market failed to support above 13960. Targets are 13918, 13881 and 13840.

Plan B : Long if market supported firm above 13960. Targets are 13989, 14021 and 14055.



HSI

Hong Kong stocks slipped on Thursday, largely in line with losses on the mainland, as recent upbeat economic data raised worries over policy tightening.

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Plan A : Remain buy as long as market trades firmly above 28740. Targets are 28912 and 29249.

Plan B : Consider short only if market surges but fails to sustain above 28912. Targets are 28740 and 28639.



WTI Crude

Oil prices were lower on Thursday though holding near one-month high after futures jumped in the previous as the International Energy Agency (IEA) and others upgraded forecasts for oil demand as major economies recover from the pandemic.

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Plan A : Remain buy as long as oil price trades firmly above 62.6. Targets are 63.9 and 65.5.

Plan B : Consider short only if oil price recovers but fails to breach above 63.9. Targets are 62.6 and 61.8.



Gold

Gold scaled a more than one-month peak on Thursday as U.S. Treasury yields slipped despite better-than-expected U.S. economic data, pushing investors to bullion as a refuge against possible inflation ahead.

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Plan A : Remain buy as long as gold price trades firmly above 1752.4. Targets are 1776 and 1795.1.

Plan B : Consider short only if gold price surges but fails to breach above 1776. Targets are 1764.6 and 1752.4



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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