Sunday, April 25, 2021

26 April 2021 Foreign

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


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E-Mini Dow


Stocks rose on Friday as solid economic data reversed a Wall Street decline in the previous session, setting up a global stocks index for a fifth consecutive week of gains.

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Plan A : Remain buy as long as market trades firmly above 33845. Targets are 33939 and 34060.

Plan B : Consider short only if market stays trading below 33939. Targets are 33559 and 33252.



E-Mini S&P 500

U.S. stocks rebounded on Friday as Wall Street reassessed concerns arising from news that the White House could seek a hike to the capital gains tax.

The S&P 500 rose 1.1% to 4,180.17 led by financials and materials. The S&P 500 closed the turbulent week with just a 0.1% loss.

Wall Street came off a turbulent session for equities after multiple news outlets reported Thursday afternoon that President Joe Biden is slated to propose much higher capital gains taxes for the rich.

Meanwhile, U.S. taxable domestic investors own only about 25% of the U.S. stock market, according to UBS. The rest of the market is owned in accounts that aren’t subject to capital gains taxes such as retirement accounts, endowments and foreign investors, so the impact on overall stock prices should be limited even with a higher tax rate.

Corporations have for the most part managed to beat Wall Street’s forecasts thus far into earnings season. Still, strong first-quarter results have been met with a more tepid response from investors, who have not, to date, snapped up shares of companies with some of the best results.

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Plan A : Long if market supported firm above 4160. Targets are 4176, 4191 and 4207.

Plan B : Short if market failed to support above 4160. Targets are 4135, 4110 and 4081.


E-Mini Nasdaq

Futures contracts tied to the major U.S. stock indexes held steady in early morning trading on Monday as investors braced for one of the busiest weeks of the first-quarter earnings season.

The tech-heavy Nasdaq Composite climbed 1.4% to 14,016.81.the Nasdaq fell 0.5% and 0.3% for the week, respectively.

The week ahead is a major one for corporate earnings, with about a third of the S&P 500 set to update investors on how their businesses fared during the three months ended March 31. Some of the largest companies in the world are scheduled to publish results this week such as Apple, Microsoft, Amazon and Alphabet. 

The Fed, which meets on Tuesday and Wednesday, is expected to defend its policy of letting inflation run hot, while assuring markets it sees the pick-up in prices as only temporary. Chairman Jerome Powell will host a press conference Wednesday afternoon to discuss the Federal Open Market Committee’s decision.

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Plan A : Long if market supported firm above 13887. Targets are 13917, 13948 and 13979.

Plan B : Short if market failed to support above 13887. Targets are 13848, 13800 and 13766.


HSI

Hong Kong shares rose on Friday, led by tech and healthcare plays amid signs of a flare-up in coronavirus in some Asian countries.

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Plan A : Remain buy as long as market trades firm above 28912. Targets are 29184 and 29249.

Plan B : Attempt sell only if market rebounds but fails to breach above 29249. Targets are 28912 and 28788.



WTI Crude

Oil prices rose on Friday on hopes of a fuel demand recovery in the United States and Europe as economic growth picks up and lockdowns ease, but worries about India's raging second wave of COVID-19 cases kept a lid on gains.

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Plan A : Remain buy as long as oil price trades firmly above 61.4. Targets are 62.1 and 62.6.


Plan B : Consider selling only if oil price surges but fails to breach above 62.6. Targets are 61.9 and 61.4.



Gold

Gold price pulled back on Friday amid strong U.S. economic data.

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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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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...