Tuesday, July 27, 2021

28 July 2021 Foreign

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


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E-Mini Dow


U.S. stocks fell on Tuesday, ending a five-day winning streak in the three major indexes, as investors were cautious before results from top tech and internet names and Wednesday's Federal Reserve announcement.

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Plan A : Remain buy as long as market trades firmly above 34703. Targets are 35030 and 35146.

Plan B : Consider sell if market surges but fails to breach above 35000. Targets are 34900 and 34740.



E-Mini S&P 500

U.S. stocks fell for the first time in six days on Tuesday ahead of quarterly earnings reports from several megacap technology companies.

The S&P 500 declined nearly 0.5% to 4,401.46, led to the downside by consumer names, tech and energy. The broad equity benchmark dropped 1.1% at its session low.  

The second-quarter earnings season kicked into high gear this week with Google-parent Alphabet, Microsoft and Apple reporting after the bell Tuesday. The trio of tech heavyweights declined ahead of their numbers: Alphabet slid nearly 1.6%, and Apple dropped roughly 1.5%. Microsoft was down nearly 0.9%.

Investors are awaiting the Federal Reserve’s update on its monetary policy as the central bank’s two-day meeting began. The Federal Open Market Committee will release a statement when the meeting concludes Wednesday, followed by Chairman Jerome Powell’s news conference.

The International Monetary Fund warned Tuesday that there’s a risk inflation will prove to be more than just transitory, pushing central banks to take pre-emptive action.

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Plan A : Long if market supported firm above 4397. Targets are 4415, 4429 and 4444.

Plan B : Short if market failed to support above 4397. Targets are 4372, 4344 and 4320.


E-Mini Nasdaq

U.S. stock index futures fell during early morning trading on Wednesday after the major averages pulled back from record highs, snapping a five-day winning streak.

The Nasdaq Composite slid 1.2% to 14,660.58.

The busiest week of earnings continues on Wednesday with Pfizer, McDonald's, Qualcomm, Facebook, Ford and Paypal among the names on deck. Of the S&P 500 companies that have reported quarterly results thus far, 89% have topped earnings estimates, while 86% have exceeded revenue expectations, according to data from Refinitiv.

Despite Tuesday’s dip, the major averages are still on track to end the month higher. The S&P is up 2.4% for July, while the Nasdaq Composite and Dow have gained 1.1% and 1.6%, respectively.

The Federal Reserve kicked off its two-day meeting on monetary policy Tuesday. On Wednesday the Federal Open Market Committee will release a statement followed by remarks from Chairman Jerome Powell during a press conference.

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Plan A : Long if market supported firm above 14959. Targets are 14990, 15022 and 15055.


Plan B : Short if market failed to support above 14959. Targets are 14911, 14876 and 14830.




HSI

Hong Kong's benchmark index and Chinese A-shares extended sharp losses to end at multi-month closing lows on Tuesday, as investors worried over the impact of tighter government regulations.

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Plan A : Attempt short if market recovers but fails to breach above 25549. Targets are 25335 and 25158.

Plan B : Consider long if market holds firm above 25158 and rebound. Targets are 25335 and 25549.



WTI Crude

Oil prices were steady on Tuesday with investors betting tight supply and rising vaccination rates will help offset any impact on demand due to surging Covid-19 cases worldwide.

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Plan A : Remain buy as long as oil prices trades firmly above 71.7. Targets are 72.4 and 73.1.

Plan B : Consider sell only oil price fails to breach above 72.4. Targets are 71.7 and 70.8.



Gold

Gold firmed near the key $1,800 level on Tuesday, as the dollar softened and U.S. real yields plunged, though gains were limited by investor caution ahead of a Federal Reserve meeting that could provide details on stimulus tapering.

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Plan A : Attempt sell as long as gold price stays below 1811.5. Targets are 1799.4 and 1794.8. 

Plan B : Consider buy only if gold price trades resiliently above 1794.8. Targets are 1803 and 1811.5.




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...