Wednesday, August 7, 2019

08 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 Wednesday, as investors sought safety in gold and government bonds on worries about the impact of a long-drawn trade war on global economies. A U.S. bond market indicator on recession was at its most elevated levels since March 2007 as Treasury yields took another dramatic drop.

At 8:51 a.m. ET, Dow e-minis were down 247 points, or 0.95%.

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Pla
n A : Continue to short if market stays below 25948
Plan B : Cut above 25980. Targets at 25915 & 25880
Plan C : Attempt to long if market rebounds from 25944
Plan D : Cut below 25915.Targets at 25975 & 26001


E-Mini S&P 500

The S&P 500 recovered from steep early losses to end slightly higher on Wednesday as investors snapped up oversold shares and bond yields rebounded from significant lows that raised fears about a recession.

Financials were the biggest loser among S&P 500 sectors, down 1.2%, while the staples and materials indexes ended up more than 1% each. The S&P 500 gained 2.21 points, or 0.08%, to 2883.98.

The S&P 500 erased a loss of almost 2% to eke out a gain, one day after its futures contract staged a similar rebound overnight. 

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Plan A : Sell if market rebounded but resisted around 2902. Targets are 2887.50, 2876.25 and 2866.75.
Entry tip : Below 2894.00, do not enter.

Plan B : Buy if market retraced but supported above 2859.25. Targets are 2874.50, 2884.75 and 2894.25.

Entry tip : Above 2866.25, do not enter.

Plan C : Sell only if market failed to support above 2859.25. Targets are 2844.25, 2833.75 and 2825.25.

Entry tip : Below 2852.75, do not enter.

Plan D : Buy only if market supported firm above 2902.25. Targets are 2917.75, 2926.25 and 2935.50.
Entry tip : Above 2909.75, do not enter.  

E-Mini Nasdaq
U.S. stock market had another volatile day as Wall Street investors fear the US-China trade war will inflict broad damage on the global economy. Nevertheless, stocks came off their lows and turned positive in the final hour of trading. Only the S&P 500 and the Nasdaq Composite, however, managed to end the day in the green. 

The Nasdaq Composite added 29.56 points, or 0.38%, to 7862.83. The total shares traded for the Nasdaq was over 2.39 billion. Declining stocks led advancers by 1.03 to 1 ratio. 

The Nasdaq 100 index closed up 0.41% for the day; a total of 30.58 points. Incyte Corporation had the largest percent change down, -2.63%; while Microchip Technology Incorporation had the largest percent change gain rising 3.95%.

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Plan A : Buy if market retraced but supported firm above 7481.25. Targets are 7520.25, 7549.75 and 7579.25.
Entry tip : Above 7496.00, do not enter.

Plan B : Sell if market rebounded but resisted around 7637.25. Targets are 7596.75, 7568.25 and 7539.50.
Entry tip : Below 7622.50, do not enter.

HSI/HSI warrant
Hong Kong stocks closed slightly higher on Wednesday and snapped five sessions of losses, bolstered by gains in materials and industrial stocks, even as trade tensions and worries over slowing growth lingered. 

Hong Kong is facing its biggest crisis since it returned from British to Chinese rule in 1997, the head of China’s Hong Kong and Macau Affairs office said on Wednesday, as more protests were set to rock the Asian financial hub. The island’s economy grew less than expected in the second quarter as trade war and protests bite.

The Hang Seng index rose 0.1%, to 25,997.03, while the China Enterprises Index lost 0.2%, to 9,993.34. 

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Plan A : Above 26207, do nothing
Plan B : Below 25755, do nothing
Plan C : Attempt selling if market does not breach above 26122
Plan D : Cut above 26207
Plan E : Consider buying only if market rebounds from 25834
Plan F : Cut below 25755


WTI Crude

Oil prices tumbled more than 4% on Wednesday to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears that demand will shrink due to Washington's escalating trade war with Beijing.

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Plan A : Remain sell as long as oil price stays below 52.6
Plan B : Cut above 53.04
Plan C : Consider buying if oil price holds resiliently above 52.36
Plan D : Cut below 51.98


Gold

Gold rose to its highest level in more than six years on Wednesday as concerns about the global economy made the precious metal and other traditional safe havens more attractive than riskier assets like stocks. The metal also caught a bid as the amount of negative-yielding bonds keep growing.

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Plan A : Remain buy as long as gold price stays above 1492.2
Plan B : Take profit only if gold price falls below 1492.2
Plan C : Consider selling if gold price surges but fails to breach above 1510
Plan D : Cut above 1512



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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