Wednesday, September 1, 2021

2 September 2021 Foreign

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


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E-Mini Dow


The Nasdaq closed Wednesday at a record high, with the S&P 500 ending near its precious peak while Dow lost 48-points as September kicked off with renewed buying of technology stocks and private payrolls data, which supported the case for dovish monetary policy.

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Plan A : Remain short as long as market stays trading below 35338. Targets are 35230 and 35146.

Plan B : Consider long only if market supports resiliently above 35146 and rebound. Targets are 35230 and 35338.



E-Mini S&P 500

The S&P 500 closed the first trading day of September near the flatline as the strength in technology shares faded, while investors digested a disappointing employment report.

The broad equity index gained just 1.41 points on Wednesday to 4,524.09 as losses in energy offset gains in utilities and real estate.  

The S&P 500 has had a pretty smooth ride so far in 2021, up more than 20% without even a 5% pullback. The benchmark has closed above its 200-day moving average, a measure of the long-term trend, for 296 days in a row.

U.S. companies created far fewer jobs than expected in August, with private payrolls rising just 374,000, according to payroll services firm ADP. That was well below the Dow Jones estimate of 600,000.

The ADP report is a precursor to the official August U.S. non-farm payrolls data, which will be released Friday. Economists polled by Dow Jones expect 720,000 jobs were created in August and the unemployment rate fell to 5.2%.

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Plan A : Long if market supported firm above 4533. Targets are 4544, 4555 and 4567.

Plan B : Short if market failed to support above 4533. Targets are 4518, 4500 and 4485.



E-Mini Nasdaq

U.S. stock futures were little changed early Thursday morning after the S&P 500 finished the first trading session of the month near the flatline.

The tech-heavy Nasdaq Composite advanced 0.3% to 15,309.38 to eke out a record close after trading 0.8% higher earlier in the day. Apple jumped as much as 2% to an all-time high, but pared gains to about 0.5%.

Investors are expecting the weekly initial jobless claims report Thursday and the Labor Department’s non-farm payrolls report on Friday, which could provide clues on Fed policy.

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Plan A : Long if market supported firm above 15612. Targets are 15643, 15675 and 15710.

Plan B : Short if market failed to support above 15612. Targets are 15570, 15529 and 15488.



HSI

Hong Kong shares rose on Wednesday after data showed the city's retail sales climbed for the sixth straight month in July, with tech and financial stocks leading the gains.

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Plan A : Remain buy as long as market trades firmly above 25742. Targets are 26122 and 26325.

Plan B : Consider short only if market surges but fails to breach above 26122. Targets are 25920 and 25860.



WTI Crude

Oil prices steadied on Wednesday after OPEC and its allies agreed to stick to their existing policy of gradual oil output increases.

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Plan A : Attempt short if oil price stays below 68.8. Targets are 68.4 and 67.4.

Plan B : Consider long only if oil price trades resiliently above 68.0. Targets are 68.8 and 70.9.



Gold

Gold traded within a narrow range on Wednesday, as investors largely looked past a slew of U.S. economic readings to focus on key labour data that could influence the Federal Reserve's tapering plans.

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Plan A : Remain buy as long as gold price stays firm above 1802.3. Targets are 1823.4 and 1833.1.


Plan B : Consider short if gold price surges but fails to breach above 1823.4. Targets are 1818 and 1809.6.




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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