Mixed sentiments across the board

$E-mini S&P 500 Futures(SEP4)(ESmain.US)$ (4 Hour Chart) -[NEUTRAL] S&P dropped and broke below support, invalidating bullish scenario. We turn neutral for now, expecting price to consolidate between 5640.00 resistance and 5560.00 support. A candlestick close below 5560.00 support will open a drop towards next support at 5510.00. Technical indicators are mixed for now.

$USD(USDindex.FX)$ (4 Hour Chart) -[BEARISH ↘ *] DXY bounced overnight. We prefer to stay bearish for now, still expecting price to hold below 104.500 resistance and drop towards 103.650 support. Technical indicators are still advocating for a bearish scenario.

$Gold Futures(AUG4)(GCmain.US)$ (4 Hour Chart) -[BULLISH ↗ *]Gold price is holding above near term support at 2411.00. We expect a short term intraday bounce above this support level towards 2452.70 resistance. Technical indicators are mixed for now with gold prices holding above long term 55 period EMA. Stochastics is reacting below resistance for now.

$Nikkei 225(.N225.JP)$ (4 Hour Chart) -[BULLISH ↗ *] As expected, Nikkei225 has tested and bounced off previous support level. We stay bullish as long as price stays above the adjusted support level of 39820. expect price to drift towards 41000 resistance level. Technical indicators have yet to display a bullish scenario.

$HSI Futures(JUL4)(HSImain.HK)$ (4 Hour Chart) -[BULLISH↗ *] HSI is currently in a ranging trend. We remain a bullish directional bias as long as price stays above 17300 support level. We expect a pullback in price before pushing for 17900 resistance level. Technical indicators have yet to display a bullish scenario.

$FTSE Singapore Straits Time Index(.STI.SG)$ (4 Hour Chart) -[BEARISH ↘ *] STI is currently moving in a downtrend. We are in a bearish directional bias and expect prices to dip towards 3370 support level. Technical indicators are advocating for a bearish scenario.

US equity markets saw further weakness overnight and continued its drop for the 2nd consecutive day. $E-mini S&P 500 Futures(SEP4)(ESmain.US)$ and $E-mini NASDAQ 100 Futures(SEP4)(NQmain.US)$ both fell by -0.88% and -0.62% respectively. The weakness continues as traders and investors look to rotate away from the tech and semicon sector and allocate capital to other lagging sectors. $Apple(AAPL.US)$ and $Alphabet-C(GOOG.US)$ dropped by -2.05% and -1.84% respectively. At the same time, unemployment claims grew and came in much higher than expected. While markets are expecting a rate cut, investors may not be ready for continued weakness in economic data. Today will be light on economic data and allow investors time to re-adjust their positions if need be.

Asian markets fell across the board as well, tracking the overnight moves in the US markets. $HSI Futures(JUL4)(HSImain.HK)$ leading the drop with -2.00% since the open. This comes as the finance and tech sectors continued their sell off. Further the Chinese government's 3rd Plenum meeting failed to provide any convincing and conclusive initiatives on how they would be shoring up support for the financial markets, this despite the repeated mention of reforms and focus on development across the public economy and industrial supply chains. Japan's $Nikkei 225(.N225.JP)$ also fell by -0.70% from the open as the finance and healthcare sector saw the biggest weakness. The Japanese market was supported by the gains in the electronics sector. $FTSE Singapore Straits Time Index(.STI.SG)$ also drifted lower with -0.88% on fears of further escalation of US-China trade conflict in light of a possible Trump presidency. Finance and REITs sector fell as well.

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