Monday, June 7, 2021

08 June 2021 Foreign

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


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E-Mini Dow


The S&P 500 ended a languid session slightly in the red while Dow lost 126-points on Monday, with investors standing by on news of a global minimum corporate tax rate, lingering inflation fears and a lack of market-moving economic news.

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Plan A : Remain buy as long as market trades firmly above 34554. Targets are 34650 and 34730.

Plan B : Consider selling only if market consistently trading below 34554. Targets are 34450 and 34201.



E-Mini S&P 500

The S&P 500 fell slightly on Monday as the benchmark struggled to make a run at a record high after a winning week.

The broad equity benchmark dipped about 0.1% to 4,226.52, sitting 0.3% from its intraday record high earlier in May. Materials and industrials were the biggest losing sectors on Monday, weighing on the S&P 500.  

The S&P 500 advanced 0.6% last week to bring its 2021 gains to more than 12%.

Friday’s jobs report showed the unemployment rate dropping to 5.8% from 6.1% and that 559,000 jobs were added in May. The report was seen as strong enough to keep investors’ confidence in the economy, but light enough to keep the Federal Reserve from rushing to change its easy money policies.

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Plan A : Short if market failed to support above 4220. Targets are 4194, 4168 and 4142.

Plan B : Long if market supported firm above 4220. Targets are 4238, 4251 and 4269.



E-Mini Nasdaq

Stock futures are little changed in early morning trading Tuesday after the Dow and S&P 500 both started the week lower.

The Nasdaq Composite edged 0.5% higher on Monday, boosted by shares of Biogen. The biopharmaceutical stock surged 38% after the FDA approved its groundbreaking Alzheimer's drug.

May’s consumer price index is set to be released Thursday. Economists are expecting the CPI to rise 4.7% from a year earlier, according to Dow Jones. In April, the CPI increased 4.2% on an annual basis, the fastest rise since 2008.

All eyes are on the next Federal Open Market Committee meeting scheduled for June 15-16 as investors look for what Fed officials will say about inflation and monetary policy. Recent comments by officials suggest the Fed is beginning to prepare markets for tapering its asset purchases.

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Plan A : Long if market retraced but 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 dipped on Monday, with gains for consumer firms offset by losses for financial and IT companies, as investors reacted to mixed China trade data.

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Plan A : Remain sell as long as market stays trading below 28778. Targets are 28639 and 28443.

Plan B : Consider long only if market supports above 28639 and rebound. Targets are 28760 and 28912.



WTI Crude

Oil prices dipped on Monday after touching two-year highs reached on expectations of improved demand and OPEC producers keeping supply curbs in place.

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Plan A : Remain buy as long as oil price trades firmly above 68.0. Targets are 68.9 and 69.5.

Plan B : Consider short if oil price surges but fails to breach above 69.5. Targets are 68.9 and 68.0.



Gold

Gold held on to gains as the dollar slid on Monday, with investors awaiting U.S. inflation data later this week for clarity on when the Federal Reserve might start tapering economic support measures.

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Plan A : Attempt buy if gold price trades firmly above 1898.6. Targets are 1903 and 1912.3.

Plan B : Consider short if gold price fails to hold above 1898.6. Targets are 1888.3 and 1878.8




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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                WTI Crude, Gold, HSI, Dow,  S&P 500 and Nasdaq If you like what we are doing, kindly like and share our page on FB. Foll...