Tuesday, June 29, 2021

30 June 2021 Foreign

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


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E-Mini Dow


The S&P 500 hit a record high for the fourth straight session on Tuesday while Dow eked out small gains, helped by shares of heavyweight technology firms and Morgan Stanley, while an upbeat consumer confidence report set a positive tone for key jobs data at the end of the week.

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Plan A : Remain buy as long as market trades firmly above 34142. Targets are 34247 and 34401.

Plan B : Consider short only if market fails to hold above 34142. Targets are 33905 and 33714.



E-Mini S&P 500

The S&P 500 notched another record high on Tuesday amid bullish economic data but retreated toward the flat line later in the session as Wall Street continued its recent period of low volatility.

The broad market index ticked up less than 0.1% to 4,291.80, good enough for its fourth-straight record close. 

The market has churned out a series of record highs in recent weeks, but the gains have been relatively modest and some strategists have pointed to weak market breadth, measured by the performance of the average stock and the number of individual names making new highs, as a potential area of concern.

The Conference Board’s consumer confidence reading for June came in higher than expected, adding to the bullish readings about the economic recovery.

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Plan A : Short if market failed to support above 4277. Targets are 4250, 4220 and 4196.

Plan B : Long if market supported firm above 4277. Targets are 4290, 4308 and 4325.


E-Mini Nasdaq

U.S. stock futures were little changed on Tuesday night as the market gets set to close out a winning first half of 2021 and second quarter.

The tech-heavy Nasdaq Composite added about 0.2% for its own record of 14,528.33.

Investors have shrugged off high inflation readings and have kept buying stocks on the hopes an economic comeback from the pandemic would continue. 

Weekly mortgage applications and pending home sales data are due to be published Wednesday. Payroll firm ADP is scheduled to report on the number of private payrolls added in June.

Stocks likely won’t see big movement until Friday’s jobs report gives a better idea of the state of the economy. Economists expect 683,000 jobs were added in June, according to a Dow Jones survey.

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Plan A : Short if market failed to support above 14552. Targets are 14510, 14471 and 14412.

Plan B : Long if market supported firm above 14552. Targets are 14580, 14615 and 14651.


HSI

Hong Kong stocks closed lower on Tuesday, as energy firms slumped after a decline in oil prices, with investors treading cautiously ahead of a U.S. jobs report.

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Plan A : Remain buy as long as market trades firmly above 29062. Targets are 29270 and 29339.

Plan B : Consider short if market consistently trade below 29270. Targets are 29062 and 28950.



WTI Crude

Oil prices reversed earlier losses to stand slightly higher on Tuesday as broad hopes for a demand recovery persisted despite new outbreaks of the highly contagious Delta variant of the coronavirus prompting fresh mobility curbs worldwide.

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Plan A : Remain buy as long as oil price trades resiliently above 72.8. Targets are 73.6 and 74.3.

Plan B : Consider short only if oil price fails to breach above 73.6. Targets are 72.8 and 71.9.


Gold


Gold slipped on Tuesday to its lowest since mid-April as the dollar strengthened in the run-up to this week's U.S. jobs report, which is expected to come in strong and could cement the Federal Reserve's recent hawkish stance.

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Plan A : Remain short as long as gold price stays below 1766.1. Targets are 1750 and 1730.6.

Plan B : Consider long only if gold price supports resiliently above 1750 and rebound. Targets are 1766.1 and 1774.




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...