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S&P 500 Naps All-Time Closing Highs, Hang Seng Index Drops Again

US Stocks 

Fundamental Analysis: 

Regarding the indices’ recent string of all-time highs, including the S&P 500’s 52nd record high close so far this year, it shows that the upward trend is very stable, the drawdowns are super shallow, and the recoveries are very fast.  

The market is very happy that the Fed is pumping more liquidity into the economy every month. The Fed is enabling asset prices to climb and the market is pleased with that. 

Economic data released on Friday, 27 August 2021, delivered, in large part, precisely what economists expected – a pullback in consumer spending and sentiment owing to the COVID-19 Delta variant, and signs that the current wave of price spikes will not morph into long-term inflation, inline with the Fed’s assurances.

Technical Analysis:

(Dow30,1-hour chart) 

Execution Insight:

The Dow has rebounded to record-high levels, near the upper boundary range of 35166–35494, which is close to the 35494 line.

Today, pay attention to the suppression of the Dow on the 35494 line. If the Dow is under pressure, then focus on the support of the 35346 and 35166 positions. If the Dow breaks through the range of 35494, the suppression strength of the 35610 line will be tested again.

Hong Kong Stocks 

Fundamental Analysis: 

Today, the Hang Seng Index dropped by 0.01%, the Hang Seng China Enterprises Index opened flat, and the Hang Seng Technology Index rose by 0.09%. The stocks for the insurance brokerage sector are higher, while the stocks for the automotive sector are lower.

Chinese electric vehicle maker BYD Co shares fell by 2.82%, and the net profit in the first half of 2021 was 1.17 billion yuan, down 29.41% year on year. BYD Electronics fell by more than 3%, and the net profit in the first half of 2021 dropped by 33.55% year on year.

Vanke stocks fell by 3.35%, with a net profit of 11.047 billion yuan in the first half of 2021, down 11.7% year on year. 

Technical Analysis: 

(HK50,1-hour chart)

Execution Insight: 

HK50 is focusing on the 25160 line today. If you get a strong support for buying above the 25160 line, then pay attention to the suppression strength of the two positions of 25816 and 26535. 

Once HK50 falls below the 25160 line, it will open up further downward revision, then shift your focus to the support of the 24469 position.

FTSE China A50 Index 

Technical Analysis: 

(A50,1-hour chart)

Execution Insight: 

Today, A50 focuses on the direction of the breakthrough between the range of 14663 and 15662. If it breaks above the 15298 line, it will open up further upward revision, then pay attention to the suppression of the 15612 line. If it falls below the 14669 line, it will create further downward revision, then divert your attention to the support of the 14315 line. 

While every effort has been made to ensure the accuracy of the information in this document, DOO Prime does not warrant or guarantee the accuracy, completeness or reliability of this information. DOO Prime does not accept responsibility for any losses or damages arising directly or indirectly, from the use of this document. The material contained in this document is provided solely for general information and educational purposes and is not and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, securities, futures, options, bonds or any other relevant financial instruments or investments. Nothing in this document should be taken as making any recommendations or providing any investment or other advice with respect to the purchase, sale or other disposition of financial instruments, any related products or any other products, securities or investments. Trading involves risk and you are advised to exercise caution in relation to the report. Before making any investment decision, prospective investors should seek advice from their own financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision. 

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