Wednesday, April 21, 2021

22 April 2021 Foreign

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


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E-Mini Dow


Wall Street rebounded on Wednesday after a two-day decline in a broad rally as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc's sell-off after its disappointing results a day earlier.

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Plan A : Remain buy as long as market trades firmly above 33939. Targets are 34144 and 34544.

Plan B : Consider short only if market falls below 33939. Targets are 33737 and 33559.



E-Mini S&P 500

U.S. stocks rose on Wednesday to recover from two straight days of losses as investors piled into shares most sensitive to the economic recovery.

The S&P 500 climbed 0.9% to 4,173.42. 

Companies have been handing in solid quarterly results, but the bar is high for earnings to lift the stock market higher after a strong rally to record highs this year. Plus, most analysts are focused on the outlook companies are willing to give. The Dow and the S&P 500 are both up 11% for the year after hitting records Friday.

More than 70 S&P 500 companies have reported so far, and they posted a 23% upside to analysts’ earnings expectations on average, according to CNBC calculations.

The Cboe Volatility Index, also known as the VIX or the market’s fear gauge, rose for two consecutive days, landing above 18 on Tuesday after hitting a 14-month low last week. The VIX fell to 17 on Wednesday.

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Plan A : Long if market supported firm above 4158. Targets are 4174, 4190 and 4205.

Plan B : Short if market failed to support above 4158. Targets are 4134, 4110 and 4081.


E-Mini Nasdaq

U.S stock index futures declined slightly in early morning trading on Thursday, eating into the major averages’ gains from the Wednesday session.

The tech-heavy Nasdaq Composite advanced 1.2% to 13,950.22.

Stock rose on Wednesday during regular trading hours, snapping a two-day losing streak, as companies tied to the economy reopening led the way higher. The Nasdaq Composite was the relative outperformer of the major indices, rallying 1.19%.

A busy week of earnings season will continue on Thursday with a host of companies set to report quarterly results.

Economic data released Thursday will also give investors a snapshot of the ongoing economic recovery. Initial jobless claims will be released at 8:30 a.m. ET, with economists expecting a print of 603,000, according to estimates from Dow Jones. Existing home sales data will be released at 10 a.m. ET.

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Plan A : Long if market supported firm above 13939. Targets are 13970, 13998 and 14031.

Plan B : Short if market failed to support above 13939. Targets are 13898, 13860 and 13810.



HSI

Hong Kong shares ended lower on Wednesday, tracking global markets, on concerns over a resurgence in COVID-19 cases in some countries that has cast renewed doubt on the strength of a global economy recovery.

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Plan A : Remain sell as long as market trades below 28789. Targets are 28639 and 28366.

Plan B : Attempt buy only if market able to hold firm above 28639 and rebounds. Targets are 28790 and 28912.


WTI Crude

Oil prices on Wednesday fell for a second day to their lowest in a week on a surprise build in U.S. crude inventories and concerns surging COVID-19 cases in India will drive down fuel demand in the world's third-biggest oil importer.

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Plan A : Remain short as long as oil price stays below 61.4. Targets are 60.9 and 59.8.

Plan B : Consider buy only if oil price able to support above 60.9 and rebound. Targets are 61.4 and 62.6.



Gold

Gold jumped 1% on Wednesday propelled by sliding U.S. Treasury yields, while bets for supply shortfalls powered auto-catalyst metal palladium to a record high.


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Plan A : Remain buy as long as gold price trades firmly above 1776. Targets are 1795.1 and 1814.1.

Plan B : Consider short only if gold price fails to breach above 1795.1 and retrace. Targets are 1776 and 1766.



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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