Monday, August 16, 2021

17 August 2021 Foreign

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


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E-Mini Dow


Wall Street's main indexes fell on Monday, as glum data from China sparked fears of slowing global growth, spurring a risk-off sentiment and a move into defensive stocks amid political turmoil in Afghanistan.

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Plan A : Attempt sell if market fails to breach above 35529. Targets are 35338 and 35211.

Plan B : Consider long if market trades resiliently above 35211. Targets are 35450 and 35529.



E-Mini S&P 500

The Dow Jones Industrial Average and the S&P 500 notched fresh record closes on Monday ahead of major retail earnings reports this week.

After paring losses earlier in the session, the S&P 500 gained over 0.2% to 4,479.71. The major U.S. stock indexes saw losses earlier Monday amid fears of slowing global growth, with China’s economic recovery lagging and oil prices falling.

The yield on the benchmark 10-year Treasury note dipped to 1.26% Monday afternoon as investors worried about global growth. Bond yields fall as their prices rise.

U.S. stocks also pulled back amid growing support within the Federal Reserve to announce a tapering of its bond purchases in September and begin the reduction in buying a month or so after. Interviews with central bank officials, along with their public comments, show growing support for a faster taper timeline than markets had expected a month ago.

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Plan A : Long if market supported firm above 4455. Targets are 4464, 4478 and 4491.

Plan B : Short if market failed to support above 4455. Targets are 4441, 4428 and 4401.


E-Mini Nasdaq

U.S. stock index futures were lower during early morning trading Tuesday, after the Dow and S&P 500 closed at record highs during regular trading on Monday.

The Nasdaq Composite declined 0.2% to close in the red.

The closely watched retail sales data will be released on Tuesday by the Census Bureau, with the Street expecting the reading to show a slowdown in July as the delta variant spread. Economists surveyed by Dow Jones are calling for a 0.3% decline for last month, after June’s reading showed a surprise 0.6% jump.

Stocks have recovered from their pandemic lows at a blistering rate, and some on Wall Street see more gains ahead.

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Plan A : Short if market failed to support above 15035. Targets are 14990, 14948 and 14909. 

Plan B : Long if market supported firm above 15035. Targets are 15066, 15098 and 15133.


HSI

Hong Kong's Hang Seng index fell on Monday as weak data offered a gloomier outlook for China's economic recovery and after Chinese state media commentaries prompted fresh concerns over government regulation in the tech sector.

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Plan A : Attempt sell if market trades below 26273. Targets are 26006 and 25742.

Plan B : Consider long if market able to trade firmly above 26006. Targets are 26199 and 26273.



WTI Crude

Oil prices settled lower on Monday, paring steep losses on weak Chinese economic data after sources told Reuters that OPEC and its allies believe the markets do not need more oil than they plan to release in the coming months.

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Plan A : Remain sell as long as oil price stays below 67.8. Targets are 67.3 and 66.3.

Plan B : Consider buy only if oil price able to support above 67.3 and rebounds. Targets are 67.8 and 69.0.



Gold

Gold extended its recovery on Monday buoyed by a pullback in U.S. Treasury yields and some safe-haven buying spurred by COVID-19 related concerns, with investors looking for more direction from the Federal Reserve on monetary policy.

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Plan A : Remain buy as long as gold price trades firmly above 1768.8. Targets are 1788.2 and 1794.8.


Plan B : Consider short if gold price fails to breach above 1794.8. Targets are 1785.6 and 1766.1.




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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29 April 2024 Foreign

                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...