Sunday, August 4, 2019

05 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

Wall Street was set to open lower on Friday after a sharp escalation in U.S.-China trade tensions and tepid job growth in July reinforced fears of a global economic slowdown. 

The sudden escalation in the trade rhetoric comes after the Federal Reserve on Wednesday played down expectations of further aggressive monetary policy actions after cutting interest rates for the first time in a decade.

At 8:43 a.m. ET, Dow e-minis were down 87 points, or 0.33%.

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Pla
n A : Continue to short if market stays below 26574
Plan B : Cut above 26604. Targets at 26535 & 26501
Plan C : Attempt to long if market stays firm and rebounds from 26436
Plan D : Cut below 26406.Targets at 26470 & 26500



E-Mini S&P 500


Stocks fell on Friday as President Donald Trump stoked U.S.-China trade fears with the announcement of more tariffs while investors digested U.S. employment data. The S&P 500 lost 0.7% to end the day at 2932.05. The latest losses marked the fifth straight drop for the S&P 500 and the worst week of the year for the market just seven days after the benchmark index hit an all-time high.

China on Friday struck back, saying that it would take "necessary countermeasures" if Trump follows through on the new tariffs, which would kick in next month. 

The re-escalation in tensions between the world's largest economies has raised worries about a global recession. Investors have responded by selling stocks and buying gold and government bonds.

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Plan A : Buy if market retraced but supported well above 2879.50. Targets are 2894.25, 2904.50 and 2912.25.
Entry tip : Above 2887, do not enter.

Plan B : Sell if market failed to support above 2879.50. Targets are 2864.25, 2853.75 and 2845.00.
Entry tip : Below 2871.25, do not enter.

Plan C : Sell if market rebounded but failed to support above 2929.50. Targets are 2914.50, 2903.75 and 2893.25.
Entry tip : Below 2921.25, do not enter.



E-Mini Nasdaq

Investors rattled by US President Donald Trump's latest 
escalation in his trade war with China on Friday drove another round of selling on Wall Street. The major indexes dipped below their 50-day moving averages, key technical levels watched by investors. 

The Nasdaq dived 1.32%, -107 pts which brings the prices to 8004.07 for Friday close. The total shares traded was over 2.25 billion. Declining stocks led advancers by 2.2 to 1 ratio. 

Futures on Sunday evening pointed to a lower open for stocks stateside when they open on Monday. The moves came amid market turmoil in the Asian trading session on Monday, with Hang Seng dropping nearly 3% and Japan's Nikkei 225 falling more than 2.5%.


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Plan A : Buy if market supported firm above 7603.25. Targets are 7640.50, 7670.75 and 7800.25.
Entry tip : Above 7618.25, do not enter.

Plan B : Sell if market failed to support above 7603.25. Targets are 7565.25, 7535.25 and 7509.75.
Entry tip : Below 7588.25, do not enter.

Plan C : Sell if market rebounded but resisted around 7706.75. Targets are 7667.25, 7636.50 and 7610.25.
Entry tip : Below 7691.25, do not enter.

HSI/HSI warrant
Chinese markets slumped on Friday, with investors rushing for cover after U.S. President Donald Trump slapped fresh tariffs on China citing a lack of progress in their trade talks. Trump said on Thursday he would impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept. 1, breaking a ceasefire in the trade war since his meeting with Chinese President Xi Jinping at the G20 summit in June.

In Hong Kong, the Hang Seng Index closed down 2.4%, entering ‘oversold’ territory for the first time in almost two months.

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Plan A : Above 27164, do nothing
Plan B : Below 26712, do nothing
Plan C : Attempt selling if market does not breach above 26965
Plan D : Cut above 27050
Plan E : Consider buying only if market rebounds from 26712
Plan F : Cut below 26620

WTI Crude

Oil prices jumped more than 3% on Friday, a partial rebound from their biggest daily drop in several years on U.S. President Donald Trump's vow to impose more tariffs on Chinese imports. 



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Plan A : Attempt selling if oil price stays trading below 55.71
Plan B : Cut above 56.44
Plan C : Consider buying if oil price test and rebound from 54.98
Plan D : Cut below 54.15


Gold

Gold steadied on Friday in seesaw trade as the dollar retreated on lackluster U.S. jobs data, putting bullion on course to notch its best week in six weeks following a surge of more than 2% in the previous session  as U.S.-China trade relations soured further.



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Plan A : Remain buy if gold price stays firm above 1430
Plan B : Cut below 1426.8
Plan C : Consider selling if gold price surges but fails to breach above 1450
Plan D : Cut above 1452.4

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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