Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The Dow rallied on Monday to a one-month high, while the Nasdaq tumbled over 1% as investors rotated out of AI-linked stocks and added some laggards to their portfolios, betting on Federal Reserve interest rate cuts this year.
The S&P 500 and Nasdaq ended lower on the rotation out of technology stocks whose outsized gains have led this year's rally. Still, nine of the S&P 500's 11 major industry sectors gained ground.
Nvidia slid 6.68% for a third session, as market watchers cited profit taking in the semiconductor bellwether after last week's meteoric rise made it the world's most valuable company.
Plan A: Long positions may be opened above 39769. Targets at 40074/40200 and stop-loss at 39716
Plan B: Consider short position may be opened below 39700. Targets at 39538/39300 and stop loss at 39770
E-Mini S&P 500
Kevin Buckland's outlook for the upcoming day in the European and international markets:
Tuesday's advances for European markets could be accompanied by some payback after the week's opening gains.
Anticipate a significant decline in the technology sector, as Nvidia's decline (NVDA) sparked a sell-off on Wall Street in the wildly successful semiconductor industry. In summary, the Nasdaq IXIC fell more than 1% on Monday, while the S&P 500 SPX lost 0.3%. The SOX semiconductor index, or SOX, fell more than 3%.
However, value has gained ground on tech, as evidenced by the Dow DJI's 0.7% increase.
Plan A: Short if market supported firm below 5530. Targets at 5498/5480 and stop-loss at 5543
Plan B: Long if market break the resistance at 5550. Targets at 5576/5595 and stop loss at 5500
E-Mini Nasdaq
Monday saw a one-month high for the Dow as investors moved out of AI-related equities and bought some laggards to their portfolios in anticipation of this year's Federal Reserve interest rate cuts, while the Nasdaq fell more than 1%.
As technology stocks, which have led this year's rise with their disproportionate gains, were rotated out of the market, the S&P 500 and Nasdaq finished lower. However, nine of the eleven key industry sectors that make up the S&P 500 saw gains.
After Nvidia NVDA's explosive climb last week made it the most valuable business in the world, the semiconductor bellwether saw a third session of losses, with market observers blaming profit-taking.
Plan A: Short if market retraced but resisted firm 19834. Targets at 19642/19534 and stop-loss at 19873
Plan B: Long if market fall rise above 19920. Targets at 19944/20040 and stop loss at 19880
HSI
Tuesday's closing prices for China equities were lower due to losses in semiconductor firms, while shares in Hong Kong slightly increased ahead of the publication of additional economic data from the second-largest economy in the world.
On Tuesday, the Shanghai Composite Index (000001) and the blue-chip CSI300 Index (399300) in China closed lower by 0.5% and 0.4%, respectively. The benchmark Hang Seng Index (.HIS) for Hong Kong was up 0.3%.
Semiconductor shares traded on the onshore market H H30184 fell 4% following the continuation of losses by Nvidia NVDA during its New York session.
Plan A: Consider long only if the market stays above 18094. Target at 18239/18408 and stop-loss at 18020
Plan B: Remain short if the market stays below 17951. Targets at 17850/17782 and stop loss at 18150
WTI Crude
Following a 1% increase in the previous trading session, oil prices are now essentially unchanged due to increased geopolitical risks in the Middle East and Eastern Europe as well as expectations of stronger summertime demand. Investor caution ahead of PCE data, the Fed's preferred inflation indicator, and worries about China's demand outlook limit further advances. Prices are being supported, however, by Ukrainian missile assaults on Russian oil infrastructure and worries about a full-scale conflict between Israel and the paramilitary organization Hezbollah, which is backed by Iran.
Plan A: Remain long as long as oil price stays above 81.21. Targets at 81.79/82.20 and stop loss at 80.99
Plan B: Consider short only if oil price stays below 80.81. Targets at 80.50/79.99 and stop-loss at 81.21
Gold
Tuesday saw a little decline in gold prices as investors focused on important U.S. inflation data that is scheduled for release later this week and may provide some insight into the Federal Reserve's plans to reduce interest rates.
As of 06:32 GMT, spot gold prices were down 0.4% at $2,324.69 an ounce. American gold futures dropped 0.3% to $2,336.80.
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Plan A: Remain short as long as gold price stays below 2351. Targets at 2333/2322 and stop-loss at 2355
Plan B: Attempts long only if gold price stays above 2355. Targets at 2358/2369 and stop loss at 2333
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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