02 November 2021 Foreign

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

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E-Mini Dow

Wall Street's main indexes notched record closing highs on Monday as Tesla shares surged and the energy sector gained while investors looked ahead to a major Federal Reserve meeting later in the week.

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Plan A : Remain long as long as market supported firmly above 35610. Targets are 35860 and 36028.

Plan B : Consider short if market surges but fails to breach above 35860. Targets are 35760 and 35610.



E-Mini S&P 500

Stocks rose slightly to new records on Monday — the first trading day of November — after markets emerged from a historically tough seasonal period successfully.

The S&P 500 rose nearly 0.2% to 4,613.67, closing at an all-time high. For the year, the S&P 500 is up more than 22%.

Corporate earnings season dominated October amid solid profit results even with global supply chain concerns. About half of the S&P 500 companies have reported quarterly results and more than 80% of them beat earnings estimates from Wall Street analysts, according to Refinitiv.

Investors will also be monitoring the Federal Reserve’s two-day meeting Tuesday and Wednesday. The central bank is widely expected to announce that it will begin to unwind its $120 billion in monthly bond purchases and end the program entirely by the middle of next year.

October’s Institute for Supply Management’s manufacturing index fell to 60.8 from September’s 61.1. Economists were expecting the index to fall to 60.3. Any number above 50 is considered expansion.

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Plan A : Long if market supported firm above 4608. Targets are 4619, 4630 and 4643.

Plan B : Short if market failed to support above 4608. Targets are 4591, 4575 and 4558.

E-Mini Nasdaq

Stock futures were slightly lower in overnight trading after the S&P 500 eked out a fresh record close Monday to kick off November.

The tech-focused Nasdaq Composite added 0.6% to 15,595.92 and also hit a closing record.

Investors are eyeing a number of potentially market-moving events this week. The Federal Reserve’s highly anticipated Federal Open Market Committee meeting takes place this week. The October jobs report drops Friday. Third-quarter earnings season continues.

Better-than-expected corporate earnings results boosted the U.S. stock averages to finish October at record highs, with the S&P 500 and Nasdaq posting their best months since November 2020.

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Plan A : Long if market supported firm above 15895. Targets are 15928, 15960 and 15998.

Plan B : Short if market failed to support above 15895. Targets are 15855, 15812 and 15769.

HSI

Hong Kong shares ended lower on Monday, dragged by tech and healthcare shares, as China's latest oversight framework on its tech sector spooked its internet giants.

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Plan A : Remain sell as long as market stays below 25421. Targets are 25174 and 24989.

Plan B : Consider long only if market trades firmly above 25174 and rebound. Targets are 25354 and 25421.

WTI Crude

Oil prices rose sharply on Monday as expectations of strong demand and a belief that a key producer group will not turn on the spigots too fast helped reverse initial losses caused by the release of fuel reserves by China, the world's biggest energy consumer.

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Plan A : Remain buy as long as oil price trades firmly above 83.0. Targets are 84.8 and 85.4.

Plan B : Consider short if oil price falls below 84.0. Targets are 83.4 and 83.0.

Gold

Gold prices rose on Monday as the dollar eased and equities pared gains, with the focus now on the U.S. Federal Reserve timetable for a rollback in stimulus measures at a key meeting this week.

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Plan A : Remain buy as long as gold price trades firmly above 1791.3. Targets are 1800.5 and 1811.

Plan B : Consider short if gold price trades below 1793.3. Targets are 1786.7 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.