Thursday, June 17, 2021

18 June 2021 Foreign

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


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E-Mini Dow


U.S. technology shares jumped on Thursday on optimism around a speedy economic recovery, although the Federal Reserve's unexpectedly hawkish message on monetary kept the S&P 500 and Dow subdued.

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Plan A : Remain short as long as market stays trading below 33928. Targets are 33800 and 33716.

Plan B : Consider buying only if market holds resiliently above 33716 and rebound. Targets are 33928 and 34015.



E-Mini S&P 500

The S&P 500 ended flat Thursday as tech was lifted by falling bond yields but gains for the broader market were kept in check by falling cyclical stocks following the Federal Reserve's hawkish turn a day earlier.  

The S&P 500 fell 0.06%. 

The move lower in Treasury yields suggests that we're on a path to lower growth at a time when the Fed's view that inflation is transitory gains in popularity, creating the perfect cocktail for tech as investors look to quench their thirst for growth.

Commodities prices declined sharply as China attempts to cool rising prices and the U.S. dollar strengthens. Futures prices for copper, palladium and platinum fell, while U.S. oil prices tumbled more than 1%.

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Plan A : Short if market failed to support above 4216. Targets are 4190, 4164 and 4138.


Plan B : Long if market supported firm above 4216. Targets are 4231, 4248 and 4266.




E-Mini Nasdaq

U.S. stock futures were little changed in early Friday morning trade, following a two-day sell-off for the Dow in the wake of the Federal Reserve’s policy update.

The Nasdaq Composite rose 0.87% to 14,161.35. The Nasdaq has gained 0.65% on the week.

The highly anticipated decision from the Federal Reserve Wednesday caused a sell-off in equities. The central bank announced it’s keeping interest rates unchanged, raised its 2021 inflation expectation to 3.4% and moved planned interest rate hikes forward.

On Thursday, the Labor Department reported initial jobless claims rose unexpectedly last week, totaling 412,000, an increase of 37,000 from the previous week and higher than the 360,000 estimate.

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Plan A : Long if market supported firm above 14168. Targets are 14200, 14232 and 14265.


Plan B : Short if market failed to support above 14168. Targets are 14125, 14085 and 14041.




HSI

Hong Kong stocks ended higher on Thursday, as the new Federal Reserve policy statement marked a strong vote of confidence that the U.S. recovery is on track, while domestic tech shares climbed on report of more policy support from Beijing.

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Plan A : Remain sell as long as market stays trading below 28488. Targets are 28366 and 28030.

Plan B : Consider long only if market supports above 28030 and rebound. Targets are 28366 and 28488.



WTI Crude

Crude oil prices pulled back from multi-year highs on Thursday amid supply concerns.

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Plan A : Attempt sell if oil price remain trading below 71.1. Targets are 70.4 and 69.5

Plan B : Consider long if oil price trades resiliently above 70.4 and rebound. Targets are 71.1 and 71.9



Gold

Gold shed more than 2% on Thursday, precipitating set for its worst day in over a year, as the dollar gained ground after the U.S. Federal Reserve struck a hawkish tone on monetary strategy.

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Plan A : Remain short as long as gold price stays below 1823.4. Targets are 1794.8 and 1766.1.

Plan B : Consider long only if gold price supports resiliently above 1766.1 and rebound. Targets are 1794.8 and 1823.4.




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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