Plan A : Remain buy as long as market trades firmly above 35338. Targets are 35529 and 35766.
Plan B : Consider short if market surges but fails to breach and stay firm above 35529. Targets are 35338 and 35146.
E-Mini S&P 500
All major averages finished the week higher for three straight weeks of gains, with the Dow Jones Industrial Average rising to a record close.
The S&P 500 edged lower by 0.1% to 4,544.90 a day after the benchmark closed at a record.
Still, things may still seem a little uncertain for investors looking toward the end of the year due to cost pressures, labor shortages and commentary from company management on earnings calls and comments from Fed chair Jerome Powell and other policymakers — even with the S&P 500 up 20% for the year, Stephen Kolano, chief investment officer of BNY Mellon Investor Solutions, told CNBC.
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Plan A : Long if market supported firm above 4549. Targets are 4561, 4573 and 4582.
Plan B : Short if market failed to support above 4549. Targets are 4534, 4518 and 4499.
U.S. stock futures were mixed Friday, with tech stocks under pressure and the 10-year Treasury yield trading at May highs above 1.69% before pulling back some. The S&P 500 on Thursday closed at a record and extended its run of winning sessions to seven.
The Nasdaq, which also advanced, was about 1% away from its Sept. 7 record close.
Several tech stocks rose to all-time highs. Tesla shares extended their rally, rising 1.7% after hitting a new intraday high earlier in the morning. The electric vehicle maker’s shares also closed at a record level: $909.68. Tesla closed 3.2% higher Thursday after posting record profit and revenue, along with strong margins. Netflix, Ebay and Microsoft also touched new all-time highs during Friday’s trading session.
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Plan A : Long if market supported firm above 15411. Targets are 15441, 15473 and 15511.
Plan B : Short if market failed to support above 15411. Targets are 15371, 15329 and 15288.
HSI
China and Hong Kong stocks rose on Friday, led by property shares, as China Evergrande Group unexpectedly supplied funds for a bond interest payment, while comments from the banking regulator also underpinned the property market.
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Plan A : Attempt sell if market rebounds but fails to breach above 26302. Targets are 26075 and 25990.
Plan B : Consider long only if market supports well above 25990. Targets are 26075 and 26302.
WTI Crude
Oil prices resumed their climb on Friday on continued tightness in U.S. supply, but were headed for a flat finish on the week as coal and gas prices eased, curbing fuel-switching which had stoked demand for oil products for power.
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Plan A : Remain buy as long as oil price stays above 84.0. Targets are 84.7 and 85.6.
Plan B : Consider short if oil price trades below 84.0. Targets are 83.1 and 82.2.
Gold
Gold inched higher and was poised for a second weekly gain on Friday, as a softer dollar provided some respite against higher U.S. bond yields and rising expectations that central banks could begin easing economic support.
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Plan A : Remain long as long as gold price stays firm above 1781.1. Targets are 1800.5 and 1819.1.
Plan B : Consider short if gold price trades below 1800.5. Targets are 1786.7 and 1781.1
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.