Wednesday, August 4, 2021

05 August 2021 Foreign

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


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E-Mini Dow

U.S. stocks closed mostly lower on Wednesday, with the S&P 500 falling from a record high after data signaled a slowdown in jobs growth in July, and General Motors tracked its worst day since early March.

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Plan A : Remain sell as long as market stays below 34909. Targets are 34649 and 34526.

Plan B : Consider buy only if market could hold resiliently above 34649 and rebound. Targets are 34770 and 34871.



E-Mini S&P 500

U.S. stocks fell on Wednesday after the earnings of a major automaker and a private sector jobs report came in lower than expected.

The S&P 500 slipped about 0.5% to finish at 4,402.66.

The ADP private payroll survey showed a gain of 330,000 jobs for July, well short of the consensus estimate of 653,000. The Labor Department’s official jobs report, which typically has more impact with investors, will be released on Friday.

Second-quarter earnings and economic data have been strong overall, but some investors are worried that the rebound from last year’s pandemic will slow from here.

The 10-year Treasury yield was trading flat near 1.18% on Wednesday after briefly dipping below 1.13% earlier in the session. In recent weeks, lower bonds yields lately have tended to set a more bearish tone for equities, by triggering concerns about the pace of the economic comeback, though that relationship appeared to break down on Wednesday.

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Plan A : Long if market supported firm above 4407. Targets are 4421, 4435 and 4449.

Plan B : Short if market failed to support above 4407. Targets are 4385, 4359 and 4338.



E-Mini Nasdaq

Futures contracts tied to the major U.S. equity indexes were little changed at the start of the overnight session Wednesday evening as Wall Street looked to improve upon a mixed week.

The Nasdaq Composite ticked up 0.1% to 14,780.53.

On Thursday investors will receive yet another update on the U.S. employment situation with the Labor Department’s latest weekly update to initial jobless claims. Recent earnings and economic data have been strong overall, but some economists worry economic growth and employment gains will taper from here.

During regular trading Wednesday, shares of Robinhood surged 50%, continuing a volatile jump after last week’s soft initial public offering. Semiconductor stocks were another bright spot, with Nvidia and Advanced Micro Devices rising.

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Plan A : Long if market supported firm above 15087. Targets are 15115, 15144 and 15185.

Plan B : Short if market failed to support above 15087. Targets are 15049, 15010 and 14966. 



HSI

Hong Kong shares rose on Wednesday, with tech firms leading gains a day after concerns over tightening oversight of online games wiped nearly $60 billion off the market capitalization of Chinese tech giant Tencent.

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Plan A : Remain buy if market trades firmly above 26211. Targets are 26441 and 26585.

Plan B : Consider short if market fails to stay firm above 26325. Targets are 26202 and 26011.



WTI Crude

Oil prices fell for a third day in a row to a two-week low on Wednesday on a surprise build in U.S. crude stockpiles and as the spread of the coronavirus Delta variant outweighed the impact of Mideast geopolitical tensions.

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Plan A : Remain sell as long as oil price stays below 69.0. Targets are 67.8 and 66.3.

Plan B : Consider buy if oil prices holds resiliently above 67.8 and rebound. Targets are 68.3 and 69.0.



Gold

Gold gave up early gains on Wednesday as comments from a top U.S. Federal Reserve official and record U.S. services industry activity data shifted concerns back to the Federal Reserve potentially easing asset purchases later in the year.

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Plan A : Attempt buy if gold price stays firm above 1811. Targets are 1823.4 and 1827.4.


Plan B : Consider short if gold price fails to breach above 1823.4 and retrace. Targets are 1811 and 1808.



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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