Thursday, August 1, 2019

02 August 2019 Foreign

FUTURESCOIN IS GOING GLOBAL TODAY


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



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E-Mini Dow

U.S. stocks were set to open flat on Thursday, with focus shifting back to a mixed bag of corporate earnings after a cautious message from the Federal Reserve on interest rates drove some of the biggest falls since May in the previous session. 

The U.S. central bank reduced borrowing costs by a widely-expected quarter of a percentage point on Wednesday, but Fed Chairman Jerome Powell signaled a series of further cuts was unlikely, leading to a sharp selloff on the S&P 500 and Dow.

At 8:38 a.m. ET, Dow e-minis were up 13 points, or 0.05%.


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Pla
n A : Continue to short if market stays below 26604
Plan B : Cut above 26634. Targets at 26565, 26530 & 26501
Plan C : Attempt to long if market rebounds from 26510
Plan D : Cut below 26480.Targets at 26545 & 26580


E-Mini S&P 500

Stocks fell Thursday, giving up strong, early gains, after President Donald Trump announced plans to impose additional tariffs Chinese imports to the U.S., eventhough the trade talks between the two countries are due to resume September.

S&P 500 index fell 26.82 points, or 0.9% to end at 2953.56. The top performers on the S&P 500 were Nektar Therapeutics, Kellogg Company and Vertex Pharmaceuticals Inc..While the worst performers were Abiomed Inc., Concho Resources Inc. and Best Buy Co Inc.. 

The S&P 500 saw the biggest two-day drop since May, with stocks swinging 2% from gains to losses, after Trump said America will levy a 10% tariff on $300 billion in Chinese goods starting Sept. 1. After markets closed, the president said the new levies could be raised beyond 25%. 

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Plan A : Sell if market rebounded but resisted around 2961.25. Targets are 2942.75, 2933.25 and 2920.75.
Entry tip : Below 2956.00, do not enter.

Plan B : Buy only if market supported firm above 2945.25. Targets are 2963.75, 2971.75 and 2983.25.
Entry tip : Above 2950.00, do not enter. 



E-Mini Nasdaq

A fresh salvo in the U.S.-China trade war from President Donald Trump roiled financial markets a day after the Federal Reserve delivered the first interest-rate cut in a decade in part to combat the spat's effects on global growth.   

The Nasdaq Composite Index closed down 64.30 points, or 0.8%, at 8111.12. The top performers were Mid-Con Energy Partners LP, Myriad Genetics Inc. and Maiden Holdings Ltd. On the other hand, the worst performers were ConforMIS Inc., Pluralsight LLC and Flex Pharma Inc..

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Plan A : Sell if market rebounded and resisted around 7829.25. Targets are 7790.75, 7762.25 and 7727.75. 
Entry tip : Below 7815.00, do not enter.  

Plan B : Buy only if market supported firm above 7781.25. Targets are 7820.50, 7845.00 and 7870.50.
Entry tip : Above 7796.00, do not enter. 

HSI/HSI warrant
Hong Kong stocks fell to seven-week closing lows on Thursday, tracking broader Asia, after the U.S. Federal Reserve’s dovish comments dampened long-term outlook for a rate cut and the island’s economy grew less than expected in the second quarter. 
The Hang Seng index fell 0.8%, to 27,565.70. So far this week, the HSI has lost 2.9%, on track for its biggest weekly drop since early May.
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Plan A : Above 27164, do nothing
Plan B : Below 26896, do nothing
Plan C : Attempt selling if market does not breach above 27164
Plan D : Cut above 27244
Plan E : Consider buying only if market stays firm above 27164
Plan F : Cut below 27080


WTI Crude

Crude oil plunged on concerns the global economy would weaken further after President Donald Trump ended a tariff cessation with China. The president said additional tariff of 10% on the remaining $300 billion in Chinese goods would be added in September.

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Plan A : Attempt selling if oil price stays below 55.0
Plan B : Cut above 55.7
Plan C : Consider buying only if oil price trades resiliently above 53.6
Plan D : Cut below 52.6


Gold

Gold rose nearly 2% on Thursday after U.S. President Donald Trump said he would impose additional tariffs on Chinese imports, renewing trade tensions between the two countries, dragging the dollar down from two-year highs and sending bond yields lower.

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Plan A : Remain buy as long as gold price stays above 1430
Plan B : Cut below 1422
Plan C : Consider selling only if gold price surges and fails to breach above 1452.4
Plan D : Cut above 1455




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 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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