Thursday, August 26, 2021

27 August 2021 Foreign

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


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E-Mini Dow


Wall Street lost ground on Thursday, ending a streak of all-time closing highs on concerns over developments in Afghanistan, while fears of a potential shift in U.S. Federal Reserve policy prompted a broad but shallow sell-off the day before the Jackson Hole Symposium.

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Plan A : Attempt buy if market able to trade firmly above 35020. Targets are 35186 and 35338.

Plan B : Consider short if market trades consistently below 35146. Targets are 35020 and 34909.



E-Mini S&P 500

The S&P 500 fell from a record on Thursday as investors awaited more details on the Federal Reserve’s plan to pull back on monetary stimulus from the central bank’s annual symposium on Friday.

The S&P 500 slid 0.5% to 4,470.00. 

Mixed economic data did little to change the sour mood. Weekly initial jobless claims came in at 353,000, the Labor Department reported Thursday, a slight increase from the prior week’s 349,000 and more than economists expected.

Economic growth totaled 6.6% in the second quarter, according to the Commerce Department’s second reading released on Thursday. That was a slight revision upward from the 6.5% annual increase previously reported, but slightly lower than the Dow Jones estimate of 6.7%.

The yield on the benchmark 10-year Treasury note rose as high as 1.375% Thursday — the highest level since earlier in the month, when it yielded as high as 1.379% — on the hawkish comments from the Fed officials, before pulling back to 1.344% in the afternoon.

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Plan A : Long only if market supported firm above 4489. Targets are 4499, 4508 and 4522.

Plan B : Short if market failed to support above 4489. Targets are 4475, 4458 and 4440. 



E-Mini Nasdaq

Stock futures are flat in overnight trading Thursday ahead of the Federal Reserve’s annual Jackson Hole symposium with investors looking for more details into the central bank’s plans to taper monetary stimulus.

The three major U.S. indexes closed Thursday’s regular trading session lower. The Dow snapped a four-day win streak while the S&P 500 and the Nasdaq Composite both broke five-day win streaks.

The Nasdaq Composite fell 0.6%. The indexes are on track to end the month higher. The Nasdaq Composite is up 1.9% this month.

Investors also expect a consumer sentiment reading to be released Friday morning.

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Plan A : Long if market supported firm above 15300. Targets are 15335, 15371 and 15399.

Plan B : Short if market failed to support above 15300. Targets are 15258, 15215 and 15171.



HSI

Hong Kong stocks snapped a three-day winning streak to close lower on Thursday, as tech shares dropped after a recent rebound, while China Evergrande Group's profit warning hit property and banking shares.

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Plan A : Attempt sell if market consistently trades below 25477. Targets are 25330 and 25158.

Plan B : Consider long only if market able to support above 25158 and rebound. Targets are 25318 and 25463.



WTI Crude

Oil fell on Thursday for the first session in four amid renewed concerns about demand recovery as more restrictions are imposed to curb Covid-19 infections.

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Plan A : Attempt long if oil price trades firmly above 66.3. Targets are 67.8 and 68.8.

Plan B : Consider short if oil price surges but fails to stay firm above 67.8. Targets are 66.3 and 65.5.



Gold

Gold prices stabilized after a sharp retreat on Thursday, taking a firmer dollar in its stride as investors looked forward to the U.S. Federal Reserve's stance on tapering economic support at its Jackson Hole symposium.

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Plan A : Attempt sell if gold price trades below 1794.8. Targets are 1789.8 and 1766.1.


Plan B : Consider long if gold price trades resiliently above 1789.8. Targets are 1794.8 and 1810.




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...