Tuesday, June 1, 2021

02 June 2021 Foreign

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


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E-Mini Dow


The S&P 500 dipped while Dow ends higher on Tuesday, with declines in healthcare and tech shares countered by energy and financial gains, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation.

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Plan A : Remain buy as long as market trades firmly above 34388. Targets are 34620 and 34730.

Plan B : Consider selling only if market surges but fails to breach above 34730. Targets are 34620 and 34550.



E-Mini S&P 500

U.S. stocks finished Tuesday mostly flat as optimism about the economic reopening met lingering angst about inflation and price pressure.

The S&P 500 fell less than 0.1% to 4,202.04 as weakness in technology stocks offset gains made in energy, materials and financials. The S&P 500 is 0.85% below its all-time high.

Investors began the first week of June on a high note as Covid cases continue to decline and vaccinations rise in the U.S. In a major milestone, more than half the U.S. population has received at least one dose of a Covid vaccination, according to data posted by the Centers for Disease Control and Prevention.

Despite the better coronavirus figures, investors remain on edge about the potential for a sustained and marked move higher in inflation. Higher prices the result of supply shortages and recovering demand could force the Federal Reserve to hike interest rates and curb asset purchases sooner.

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Plan A : Long if market supported firm above 4194. Targets are 4210, 4226 and 4243.

Plan B : Short if market failed to support above 4194. Targets are 4169, 4141 and 4115.


E-Mini Nasdaq 

U.S. stock index futures were little changed in early morning trading on Wednesday, following muted action on the first day of June.

The Nasdaq Composite ended the day down nearly 0.1% at 13,736.48 as Microsoft shed 0.9%, Adobe lost 1.7% and Apple slipped 0.26%.

The Nasdaq gained 2.06% last week to post its best weekly performance since April. However, the tech-heavy composite lost 1.53% in May, breaking a 6-month win streak.

Inflation fears, and the ways in which the Federal Reserve might respond, have weighed on sentiment recently, although the major averages are still hovering around all-time highs.

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Plan A : Long if market supported firm above 13681. Targets are 13711, 13748 and 13782.

Plan B : Short if market failed to support above 13681. Targets are 13638, 13600 and 13553.


HSI

Hong Kong stocks closed higher on Tuesday, supported by a bounce back in tech heavyweights, as investors hunted for bargains following sharp losses in May.

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Plan A : Remain buy as long as market trades firmly above 29083. Targets are 29400 and 29575.

Plan B : Consider short only if market consistently trades below 29249. Targets are 29090 and 28912.



WTI Crude

Oil prices continue to scale higher with OPEC and its non-OPEC partners agreed on Tuesday to gradually ease production cuts.

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Plan A : Remain buy as long as oil price trades firmly above 68.0. Targets are 68.9 and 69.5.

Plan B : Consider short if oil price surges but fails to breach above 69.5. Targets are 68.9 and 68.0.



Gold

Gold slipped below a near five-month price peak hit earlier in Tuesday's session, as robust U.S. manufacturing data and higher Treasury yields dented its appeal.

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Plan A : Remain buy as long as gold price trades firmly above 1900.1. Targets are 1910.5 and 1919.2.

Plan B : Consider short only if gold price surges but fails to breach and hold above 1919.2. Targets are 1907 and 1900.1.




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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