Tuesday, November 30, 2021

01 December 2021 Foreign

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


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E-Mini Dow


U.S. stocks fell sharply on Tuesday after drugmaker Moderna warned that existing vaccines are unlikely to be as effective against the new coronavirus variant, spurring investors to pile into safe-haven assets such as government bonds and the yen.

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Plan A : Remain short as long as market stays below 34705. Targets are 34393 and 34007.

Plan B : Consider long only if market trades resiliently above 34393 and rebound. Targets are 34600 and 34705.



E-Mini S&P 500

Stocks tumbled Tuesday, reversing Monday’s rebound on Wall Street, as investors reassessed risks associated with the new Covid variant, omicron.

Major averages dropped to their session lows after Federal Reserve Chairman Jerome Powell said the central bank will discuss speeding up the bond-buying taper at its December meeting.

The S&P 500 shed 1.9% to 4,567.00. 

On Wednesday, investors will be evaluating updates on the omicron variant, as well as some key economic reports. November’s Manufacturing PMI, ISM Manufacturing print and October’s construction spending are set to release on Wednesday morning.

ADP’s private payroll data will be out at 8:15 a.m. Economists polled by Dow Jones expected 506,000 private jobs were added in November, down from October’s 571,000.

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Plan A : Short if market failed to support above 4616. Targets are 4600, 4584 and 4567.

Plan B : Long if market supported firm above 4616. Targets are 4628, 4639 and 4651.



E-Mini Nasdaq

U.S. stock futures were higher in early morning trading on Wednesday, following a Tuesday sell-off on Wall Street over fears about the new omicron Covid variant and the Federal Reserve mulling a quicker-than-planned taper.

On Tuesday, the tech-focused Nasdaq Composite dipped 1.6%. 

Stocks hit their session lows when Federal Reserve Chair Jerome Powell said the central bank will discuss speeding up the bond-buying taper at its December meeting. Despite the potential disruption of omicron, the Fed chief said he thinks reducing the pace of monthly bond buys can move quicker than the $15 billion-a-month schedule announced earlier this month.

Expediting the removal of the Fed’s easy policies tells investors that the central bank is focusing on addressing inflation, instead of new threats from the pandemic.

Bond yields also retreated on Tuesday with the U.S. 10-year Treasury dropping 8 basis points to below 1.45% on mounting omicron fears.

Tuesday marked the final trading day of November, which proved to be a volatile month for stocks. 


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Plan A : Long if market supported firm above 16300. Targets are 16333, 16362 and 16398.


Plan B : Short if market failed to support above 16300. Targets are 16258, 16219 and 16172.



HSI

Hong Kong stocks fell to a one-year low on Tuesday as regulatory concerns hanging over the tech sector and the arrest of gambling boss Alvin Chau kept investors from joining a global bounce out of COVID-19 worries. 

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Plan A : Remain sell as long as market stays below 23616. Targets are 23440 and 23320.

Plan B : Consider long if market supports above 23440 and rebound. Targets are 23616 and 23720.



WTI Crude

Oil prices tumbled more than 3% on Tuesday after Moderna's CEO cast doubt on efficacy of Covid-19 vaccines against the Omicron coronavirus variant, spooking financial markets.

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Plan A : Attempt sell if oil price trades below 67.4. Targets are 64.4 and 61.8.

Plan B : Consider long if oil price breaches and stay firm above 67.4. Targets are 68.8 and 70.8.



Gold

Gold beat a hasty retreat on Tuesday as investors latched on to seemingly hawkish remarks from the U.S. Federal Reserve chair, erasing gains from an over 1% rally fueled by concerns over the Omicron coronavirus variant.

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Plan A : Remain sell as long as gold price stays below 1781.8. Targets are 1768.7 and 1758.7.


Plan B : Consider long if gold price trades resiliently above 1768.7 and rebound. Targets are 1777.9 and 1781.8





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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