Monday, August 5, 2019

06 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 sharply lower on Monday as China’s yuan hit its lowest in more than a decade, spurring a continuation of a sell-off on trade concerns on Friday that generated the S&P 500’s worst weekly performance of 2019.

At 8:29 a.m. ET, the Dow e-minis fell by around 1.4%.

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Pla
n A : Continue to short if market stays below 25289
Plan B : Cut above 25320. Targets at 25255, 25210 & 25175
Plan C : Attempt to long if market rebounds from 25185
Plan D : Cut below 25155.Targets at 25225 & 25245


E-Mini S&P 500

Stocks tumbled Monday after China announced it had devalued the yuan to the lowest level against the dollar in 10 years. The move sent the U.S. market on a downward spiral to its worst day of 2019 on Monday, indicates that there's no end in sight for the burgeoning U.S.-Chinese trade war. 

The drop follows the worst week of the year for the S&P 500 index, which fell 3.1% for the five-day period ending last Friday after Trump announced his plan to hit China with more tariffs. The S&P 500 dropped 2.98% to 2844.74 on Monday.

Asian stocks followed Wall Street lower on Tuesday after China let its currency sink and halted purchases of U.S. farm goods, fueling fears Beijing's trade war with President Donald Trump will harm the global economy.


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Plan A : Buy only if market supported firm above 2860.25. Targets are 2876.25, 2885.75 and 2893.50.
Entry tip : Above 2868.25, do not enter.

Plan B : Sell if market failed to support above 2860.25. Targets are 2844.25, 2835.50 and 2826.25.
Entry tip : Below 2853.25, do not enter.

Plan C : Sell if market rebounded and resisted around 2902.50. Targets are 2887.50 and 2875.75.
Entry tips : Below 2894.75, do not enter. 


E-Mini Nasdaq

On Wall Street, stocks suffered their biggest loss since December. Investors already were unnerved about a cooling global economy and falling U.S. corporate profits. The rapid weakening yuan has sent a tsunami of risk aversion across global markets leaving a swath of market carnage in its wake.

Monday's session ended the Nasdaq Composite with a sell-off of 3.5% to 7726.04. The total shares traded for the Nasdaq was over 2.6 billion. Declining stocks led advancers by 6.22 to 1 ratio. The Nasdaq 100 index closed down -3.6% for the day; a total of -277.11 points. Ctrip.com International Ltd. had the largest percent change down, -7.7% while Xcel Energy Inc. had the largest change gain rising 0.16%. 

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Plan A : Buy if market supported above 7466.25. Targets are 7505.75, 7532.75 and 7554.25
Entry tip : Above 7481.50, do not enter.

Plan B : Sell if market failed to support above 7466.25. Targets are 7424.25, 7398.75 and 7369.25.
Entry tip : Below 7451.50, do not enter.

Plan C : Sell if market rebounded and resisted around 7546.25. Targets are 7508.75, 7480.50 and 7449.75.
Entry tip : Below 7531.75, do not enter.

HSI/HSI warrant
Police fired tear gas at protesters in multiple parts of Hong Kong on Monday after a general strike hit transport and the city’s Beijing-backed leader warned its prosperity was at risk.

The benchmark Hang Seng Index closed down 2.9 percent, falling to its lowest level since January.

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Plan A : Above 26206, do nothing
Plan B : Below 25249, do nothing
Plan C : Attempt selling if market does not breach above 26033
Plan D : Cut above 26120
Plan E : Consider buying only if market rebounds from 25278
Plan F : Cut below 25195


WTI Crude

Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world's biggest buyers.

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Plan A : Remain sell if oil price stays below 54.98

Plan B : Cut above 55.71
Plan C : Consider buying only if oil price able to stay firm above 54.07
Plan D : Cut below 53.72


Gold


Gold surged as much as 2% on Monday to its highest level in more than six years as worsening U.S.-China trade conflict prompted investors to dump riskier assets for safe havens, with a weaker dollar lending further fuel for bullion's run.

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Plan A : Remain buy as long as gold price stays firm above 1452.4
Plan B : Cut below 1450
Plan C : Consider sell only if gold price surges but fails to breach above 1474.4
Plan D : Cut above 1480


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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