WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
All three Wall Street major indexes ended lower on Thursday and posted their worst quarters in at least 12 months, following a tumultuous month and period wracked by concerns over COVID-19, inflation fears and budget wrangling in Washington.
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Plan A : Consider long if market supports above 33714 and rebound. Targets are 33820 and 33905.
Plan B : Consider short if market rebounds but fails to breach above 33905. Targets are 33820 and 33714.
E-Mini S&P 500
U.S. stocks pulled back on Thursday as Wall Street wrapped up its worst month of the year on a sour note.
The broader S&P 500 was down 1.19% to 4,307.54.
The weakness for the market came on the final day of what has been a rough month for equities, as rising rates, inflation fears and concerns about the Chinese property market have roiled stocks. The S&P 500 finished September down 4.8% for its worst month since March 2020, when the pandemic caused a major market sell-off. The index also closed 5% below its record high for the first time this year.
Energy and financial stocks, which have been some of the best performers in recent weeks, took a step back on Thursday. Shares of Goldman Sachs were 1.7% lower, while JPMorgan was down 1.3%.
Investors were also keeping an eye on Washington as Congress passed a bill that would fund the government through early December. The bill would avert a government shutdown but Congress still has not raised the debt ceiling, which Treasury Secretary Janet Yellen says will be reached on Oct. 18.
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Plan A : Short if market failed to support above 4257. Targets are 4240, 4225 and 4208.
Plan B : Long if market supported firm above 4257. Targets are 4268, 4279 and 4292.
E-Mini Nasdaq
Stock futures fell in early morning trading on Friday after the S&P 500 notched its worst month since March 2020.
Tech stocks outperformed on Thursday, but the Nasdaq still suffered its fifth-straight losing session. Tech names have been hit by the recent jump in the 10-year Treasury yield, which broke above 1.567% earlier in the week. The measure retreated slightly on Thursday.
Rising yields, fueled by concerns over inflation and the Federal Reserve’s signals that it will soon begin winding down its pandemic-era asset purchases, are seen as a negative for tech stocks because they make far-off future profits look less attractive to investors.
Investors await key inflation data due Friday to gauge the state of price pressures as the economy recovers from the pandemic. The core personal consumption expenditures price index, the inflation measure the Federal Reserve uses to set policy, is expected to rise 0.2% in August and 3.5% year over year, according to economists polled by Dow Jones.
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Plan A : Long if market supported firm above 14588. Targets are 14620, 14649 and 14680.
Plan B : Short if market failed to support above 14588. Targets are 14541, 14502 and 14455.
WTI Crude
Oil prices held steady on Thursday after rising above &80 a barrel this week, shrugging off bearish factors such as rising U.S. crude oil inventories and a strong dollar amid consensus that a supply deficit will stay for coming months.
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Plan A : Remain buy as long as oil price trades firmly above 74.4. Targets are 75.5 and 76.6.
Plan B : Consider short only if oil price fails to hold above 74.4. Targets are 73.1 and 72.9.
Gold
Gold prices rose more than 2% on Thursday after the dollar fell on dismal U.S. weekly jobs numbers, but recent declines driven by expectations that Federal Reserve will soon start tapering its economic support kept bullion on track for a quarterly drop.
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Plan A : Attempt buy if gold price trades firmly above 1742.9. Targets are 1755 and 1777.9.
Plan B : Consider short if gold price fails to hold above 1750.7. Targets are 1742.9 and 1724.5.
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.
