Thursday, August 5, 2021

06 August 2021 Foreign

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


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E-Mini Dow


The Nasdaq and S&P 500 closed at their highest levels ever while Dow gained 271-points on Thursday after data showed U.S. unemployment claims declined further last week, along with other mixed economic data in anticipation around Friday's job's report.

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Plan A : Remain sell as long as market stays below 34909. Targets are 34649 and 34526.

Plan B : Consider buy only if market could hold resiliently above 34673 and rebound. Targets are 34909 and 35000.



E-Mini S&P 500

The major U.S. equity indexes rose Thursday and the S&P 500 set a new record closing high as energy and travel stocks bounced back ahead of a key labor market report.

The S&P 500 added 0.6% to finish at a new all-time high of 4,429.10.

Weekly initial jobless claims came in at 385,000 on Thursday, in-line with expectations. The claims data was the last reading before the key July jobs report, which will be released on Friday morning. There is a wide range of estimates from economists about what the report will show, and some metrics for employment gains have disappointed despite a high level of reported job openings.

The jobs report is expected to be a key data point for the Federal Reserve as it considers when to tighten monetary policy.

The 10-year Treasury yield topped 1.2% on Thursday, continuing a volatile stretch of trading for the benchmark measure. The yield briefly dipped below 1.13% on Wednesday before bouncing back in late morning trading.

Through Thursday afternoon 427 S&P 500 components have posted quarterly results, with 88% topping earnings estimates, according to data from Refinitiv. When it comes to revenue, 87% have exceeded expectations.

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Plan A : Long if market supported firm above 4412. Targets are 4425, 4438 and 4452.

Plan B : Short if market failed to support above 4412. Targets are 4391, 4369 and 4337.


E-Mini Nasdaq

U.S. stock index futures were little changed during early morning trading on Friday, ahead of the highly anticipated jobs report.

Stocks finished Thursday's session in the green, with the  Nasdaq Composite advanced 0.78% for its fourth straight positive session.

All eyes are on Friday's jobs report, which will show how the labor marked fared during July. Economists expect the economy to have added 845,000 jobs last month, according to estimates from Dow Jones. However the broad range of targets — from 350,000 on the low end to 1.2 million at the top — show the uncertainty that’s currently in the market.

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Plan A : Long if market supported firm above 15138. Targets are 15168, 15200 and 15230.

Plan B : Short if market failed to support above 15138. Targets are 15099, 15055 and 15010.



HSI

Hong Kong stocks ended lower in a volatile session on Thursday, as uncertainty around regulatory tightening in the tech sector sapped risk appetite.

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Plan A : Attempt buy if market trades firmly above 26181. Targets are 26441 and 26585.

Plan B : Consider short if market fails to stay firm above 26325. Targets are 26202 and 26011.



WTI Crude

Oil prices rose towards $71 a barrel on Thursday on rising Middle East tensions, while fresh movement restrictions imposed by countries to counter a surge in COVID-19 cases threatened the demand recovery.

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Plan A : Remain sell as long as oil price stays below 69.0. Targets are 67.8 and 66.3.

Plan B : Consider buy if oil prices holds resiliently above 67.8 and rebound. Targets are 68.3 and 69.0.



Gold

Gold fell to test the pivotal $1,800 support level on Thursday, as a key Federal Reserve official's hawkish comments reinforced bets for early tapering of the central bank's asset purchases, ahead of a key monthly U.S. jobs report.

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Plan A : Attempt sell if gold price stays trading below 1812. Targets are 1801 and 1794.8.


Plan B : Consider long only if gold price holds firmly above 1794.8 and rebound. Targets are 1808.5 and 1818.6



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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