Monday, May 31, 2021

01 June 2021 Foreign

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


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E-Mini Dow


U.S. stocks climbed on Friday as investors brushed off a stronger-than-expected inflation reading, as both the Dow and S&P 500 indexes clinched their first weekly gain the past three weeks.

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Plan A : Remain buy as long as market trades firmly above 34240. Targets are 34620 and 34730.

Plan B : Consider selling only if market surges but fails to breach above 34730. Targets are 34620 and 34550.



E-Mini S&P 500

The S&P 500 has drifted a little bit lower in electronic trading on Monday as we have seen the lack of volume keep the markets quiet. After all, it was Memorial Day, and therefore we were dealing with limited trading. The 4200 level is a large, round, psychologically significant figure, and therefore it is worth paying close attention to. 

The moves in overnight trading come after the blue-chip Dow and the S&P 500 gained 1.93% and 0.55% in May, respectively, to mark their fourth consecutive positive month. The S&P 500 closed Friday just 0.8% off its record high.

Zoom Video Communications and Hewlett Packard Enterprise are set to report quarterly earnings results on Tuesday after the bell.

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Plan A : Long if market supported firm above 4212. Targets are 4229, 4243 and 4263.

Plan B : Short if market failed to support above 4212. Targets are 4187, 4160 and 4129.


E-Mini Nasdaq

Stock futures are slightly lower in overnight trading after major indexes saw gains in May.

The Nasdaq gained 2.06% last week to post its best weekly performance since April. However, the tech-heavy composite lost 1.53% in May, breaking a 6-month win streak.

Investors are awaiting the Federal Reserve’s meeting scheduled for June 15-16. Key for the markets is whether the Fed begins to believe that inflation is higher than it expected or that the economy is strengthening enough to progress without so much monetary support. 

May's employment report, set to be released on Friday, will provide a key reading of the economy. According to Dow Jones, economists expect to see about 674,000 jobs created in May, after the much fewer-than-expected 266,000 jobs added in April.

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Plan A : Long if market supported firm above 13681. Targets are 13711, 13748 and 13782.

Plan B : Short if market failed to support above 13681. Targets are 13638, 13600 and 13553.

HSI

Hong Kong stocks inched up on Monday to post monthly gains, as China's three-child policy powered birth and fertility-related stocks.

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Plan A : Attempt sell if market stays trading below 29090. Targets are 28912 and 28688.

Plan B : Consider long only if market trades resiliently above 28912 and rebound. Targets are 29080 and 29190.



WTI Crude

Oil prices climbed in early Asian trade on Monday, underpinned by the bright outlook for fuel demand growth in the next quarter, while investors looked ahead of the OPEC+ meeting this week for supply guidance.

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Plan A : Remain buy as long as oil price trades firmly above 66.4. Targets are 67.4 and 68.0

Plan B : Consider short if oil price surges but fails to breach above 67.4. Targets are 66.4 and 65.5.



Gold

Gold prices held firm above the $1,900-level on Monday after U.S. consumer prices rose more than expected in April and supported the metal as an inflation hedge.

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Plan A : Remain buy as long as gold price trades firmly above 1900.1. Targets are 1910.5 and 1919.2.

Plan B : Consider short only if gold price surges but fails to breach and hold above 1919.2. Targets are 1907 and 1900.1.




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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