Sunday, August 1, 2021

02 August 2021 Foreign

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


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E-Mini Dow


U.S. stocks dropped on Friday to pull further from record highs as an underwhelming earnings report from Amazon.com dampened the market mood, while the dollar bounced from its lows but still suffered its worst week in nearly two months.

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Plan A : Attempt buy if market trades firmly above 34909. Targets are 35050 and 35146.

Plan B : Consider sell if market surges but fails to breach above 35050. Targets are 34909 and 34840.



E-Mini S&P 500

U.S. stocks fell on Friday amid a slide in Amazon shares, but the S&P 500 notched its sixth straight positive month.

The broad equity benchmark fell 0.5% to 4,395.26, dragged down by the consumer discretionary and energy sectors. 

Utilities, health care, real estate and technology stocks have led the S&P 500 higher for the month, while energy and financials have lagged.

Investors digested a key inflation indicator that showed better-than-feared price pressures on Friday. The core personal consumption expenditures price index rose 3.5% in June year over year. It marked a sharp acceleration in inflation, but came in slightly below a Dow Jones expectation of a 3.6% jump.

Weaker-than-expected readings on the U.S. economy further eased concerns about the Federal Reserve dialing back asset purchases.

U.S. second-quarter gross domestic product accelerated 6.5% on an annualized basis, considerably less than the 8.4% Dow Jones estimate. Meanwhile, the latest weekly jobless claims also came in higher than expected.

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Plan A : Long if market supported firm above 4407. Targets are 4422, 4438 and 4455.


Plan B : Short if market failed to support above 4407. Targets are 4380, 4355 and 4328.



E-Mini Nasdaq

U.S. stock futures rose in early morning trading on Monday as investors geared up for the first trading day of August.

The tech-heavy Nasdaq Composite slipped 0.7% to 14,672.68. 

On the earnings front, Amazon sank nearly 7.6% Friday after the tech giant reported its first quarterly revenue miss in three years and gave weaker guidance. 

The first trading day of August comes in the heat of earnings season. Lyft, Amgen, Uber, CVS Health, General Motors, Roku and Square all report quarterly results this week.

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Plan A : Long if market supported firm above 15006. Targets are 15038, 15069 and 15100.


Plan B : Short if market failed to support above 15006. Targets are 14960, 14922 and 14875.


HSI

Shares in Hong Kong and China resumed their slump on Friday after rebounding in the previous session, as persistent concerns over regulatory crackdowns outweighed Beijing's attempts to calm markets.

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Plan A : Attempt short if market stays trading below 25950. Targets are 25742 and 25560.

Plan B : Consider long if market holds firm above 25742 and rebound. Targets are 25927 and 26087.



WTI Crude

Oil prices fell on Friday but remained on track to post weekly gains with demand growing faster than supply, while vaccinations are expected to alleviate the impact of a resurgence in COVID-19 infections across the globe.

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Plan A : Remain buy as long as oil prices trades firmly above 72.4. Targets are 73.8 and 74.2.

Plan B : Consider sell only oil price fails to breach above 74.2 and retrace. Targets are 73.4 and 72.8.


Gold

Gold prices eased on Friday, with a firmer dollar curtailing the precious metal's brief rally spurred by U.S. Federal Reserve Chair Jerome Powell's reassurance that a rate hike was not on the cards for the time being.

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Plan A : Attempt buy if gold price stays firm above 1811. Targets are 1823.4 and 1827.4.

Plan B : Consider short if gold price fails to breach above 1823.4 and retrace. Targets are 1811 and 1808.



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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29 April 2024 Foreign

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