Tuesday, September 28, 2021

29 September 2021 Foreign

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


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E-Mini Dow


Wall Street stocks tumbled in a broad sell-off on Tuesday as the upward trajectory of U.S. Treasury yields and deepening inflation concerns dampened risk appetite and sent investors fleeing the equities market.

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Plan A : Attempt buy only if market holds resiliently above 34142 and rebound. Targets are 34379 and 34491.

Plan B : Consider short if market rebounds but fails to breach above 34379. Targets are 34206 and 34142.


E-Mini S&P 500

Strategists see more selling ahead after stocks sold off Tuesday, led downward by tech and large cap growth names.

A sharp jump in interest rates over the last several sessions stung the market, particularly the growth names. At its high Tuesday, the yield on the benchmark 10-year Treasury had climbed to 1.56%, about a quarter-percentage point move since the Federal Reserve meeting last Wednesday.

The S&P 500 ended the session down 2%. Ten of the 11 S&P 500 sectors were down, with tech losing 2.9%. Energy was the only advancer, gaining 0.4%.

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Plan A : Long if market supported firm above 4393. Targets are 4404, 4415 and 4424.

Plan B : Short if market failed to supported firm above 4393. Targets are 4378, 4362 and 4340.

E-Mini Nasdaq

U.S. stock futures were higher Tuesday night after the Nasdaq plummeted in its worst day since March as a spike in bond yields sent stocks tumbling.

The Nasdaq was off by 2.8% because of the large concentration of tech names in the index. The gap down decline that is being driven by the mega caps broadly, which are down anywhere from 2% to 5% at this time, highlighting declines in Apple, Amazon, Facebook, Nvidia and Microsoft.

The debt ceiling debate in Washington also weighed on equities, as well as continued concern about supply chain issues and rising consumer prices. Federal Reserve Chair Jerome Powell said Tuesday to the Senate Banking Committee that inflation could persist longer than expected as a result of supply chain issues and reopening pressures.

Pending home sales data is due out on Wednesday.

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Plan A : Long if market supported firm above 14855. Targets are 14885, 14921 and 14952.

Plan B : Short if market failed to support above 14855. Targets are 14810, 14772 and 14728.


HSI

Hong Kong shares closed more than 1% higher on Tuesday, driven by gains in the real estate and technology sectors, while energy stocks jumped on higher underlying commodity prices.

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Plan A : Attempt sell if market stays trading below 24310. Targets are 24168 and 24030.

Plan B : Consider long only if market supports firmly above 24030. Targets are 24168 and 24310.



WTI Crude

WTI crude futures hit a more than two-month high of &76.67 per barrel before pulling back. The breather comes after five straight positive sessions for oil, with the rally supported by demand rebounding as supply remains tight.

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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 pries dropped more than 1% to hit a seven-week low on Tuesday, as the dollar strengthened and U.S. Treasury yields surged on expectations of sooner-than-expected hike in interest rates by the Federal Reserve.

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Plan A : Remain short as long as gold price stays below 1750.9. Targets are 1730.6 and 1716.5.


Plan B : Consider long only if gold price able to hold firm above 1730.6 and rebound. Targets are 1738.3 and 1744.1



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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