Wednesday, October 13, 2021

14 October 2021 Foreign

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


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E-Mini Dow


U.S. stocks were mostly higher on Wednesday in afternoon trading, led by gains in the Nasdaq and shares of big growth names including Amazon.com and Microsoft.

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Plan A : Remain sell as long as market stays below 34407. Targets are 34251 and 34142.

Plan B : Consider long if market supports firmly above 34267. Targets are 34407 and 34526.



E-Mini S&P 500

The S&P 500 snapped a three-day losing streak Wednesday as investors digested third-quarter earnings and insights into when the Fed might taper its asset-purchase program.

The broad index closed 0.3% higher at 4,363.80, fluctuating between gains and losses throughout the session. 

Minutes released Wednesday afternoon from the Federal Open Market Committee's September meeting showed the central bank could begin tapering its asset-purchase program as soon as mid-November.

The September consumer price index released Wednesday morning jumped 0.4% from the month prior and 5.4% year over year, according to the Labor Department. Economists expected to see a month-to-month increase of 0.3% or annualized rate of 5.3%, according to Dow Jones.

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Plan A : Long if market supported firm above 4376. Targets are 4388, 4400 and 4412.


Plan B : Short if market failed to support above 4376. Targets are 4361, 4345 and 4329.


E-Mini Nasdaq

U.S. stock futures were higher early Thursday morning after the S&P 500 snapped a three-day losing streak as companies kicked off the quarterly earnings season.

The major averages were little changed by the end of the regular session. The Nasdaq Composite ticked up 0.7%.

Despite Apple’s retreat, technology stocks enjoyed a lift Wednesday from a lower U.S. 10-year Treasury note yield. Low interest rates can push growth stock prices higher because they lift the value of companies’ future earnings. Investors tend to reach toward those high-margin technology shares when interest rates are low.

A relatively strong tech sector helped support the Nasdaq Composite and S&P 500. Big Tech names Microsoft, Google-parent Alphabet and Amazon rose. Nvidia, Zoom and Salesforce also gained.

September producer price index data and weekly jobless claims will be released Thursday.

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Plan A : Long if market supported firm above 14801. Targets are 14831, 14865 and 14899.


Plan B : Short if market failed to support above 14801. Targets are 14760, 14718 and 14675.



WTI Crude

Oil prices were flat on Wednesday as surging fuel costs for power generation offset expectations for slower crude demand growth as major economies struggle with inflation and supply chain issues.

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Plan A : Remain buy as long as oil price stays above 80.0. Targets are 81.4 and 82.2.

Plan B : Consider short if oil price fails to hold firm above 80.0. Targets are 79.4 and 78.6.



Gold

Gold rose more than 1% on Wednesday on a retreat in the dollar and U.S. Treasury yields, with investors' focus on minutes from the Federal Reserve's latest policy meeting for confirmation of its tapering strategy.

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Plan A : Remain buy if gold price trades firmly above 1781.8. Targets are 1795.3 and 1800.5.


Plan B : Consider short if gold price surges but fails to breach above 1795.3. Targets are 1791 and 1781.8.








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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