01 November 2019 Foreign

FUTURESCOIN IS GOING GLOBAL

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

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E-Mini Dow

U.S. stock index futures fell on Thursday as uncertainty around a potential trade deal between the United States and China overshadowed strong earnings reports from Apple and Facebook.

Chinese officials have doubts about whether it is possible to reach a comprehensive long-term trade deal with Washington and U.S. President Donald Trump, Bloomberg reported earlier in the day, citing unnamed sources.

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Plan A : Attempt buy if market tested and rebounds from 26981. Targets are 27011, 27045 and 27070.

Plan B : Cut below 26950.

Plan C : Attempt to sell if market stays below 27048. Targets are 27010, 26975 and 26935.

Plan D : Cut above 27080.

E-Mini S&P 500

Stocks fell Thursday despite better-than-expected earnings from Facebook and Apple and the Federal Reserve’s third rate cut of 2019. Investors took a pause and turned their focus to U.S.-China trade negotiations.

The S&P 500 was coming off another record close Wednesday as the Federal Reserve cut interest rates for the third time this year and signals no rate hikes until inflation rises “significantly.” 

The S&P 500 slid 0.30%, or 9.21 points to end the day at 3,037.56. So far, two thirds of the S&P 500 have reported quarterly numbers. Of those companies, 75% posted better-than-expected results, FactSet data shows.

The Dow, S&P 500 and Nasdaq were all tracking higher for the month ahead of the final day of October, Halloween. The Dow and Nasdaq, as of Wednesday’s close, were each less than 1% away from their July record highs.

The monthly jobs report will take center stage on Friday as investors kick off November. Economists polled by Dow Jones expect the Labor Department to report jobs growth of 75,000 for October. Chevron and Exxon Mobil are also scheduled to report quarterly numbers on Friday.

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Plan A : Short if market failed to support above 3031. Targets are 3015.25, 3004.75 and 2995.25.
Plan B : Long if market retraced but supported firm above 2997.25. Targets are 3012.25, 3023.75 and 3033.25.

E-Mini Nasdaq

U.S. stock futures were largely pointing to a lower Thursday open on Wall Street after Bloomberg reported that Chinese officials have been casting doubt over the possibility of a long-term trade deal with the U.S. 

The Nasdaq Composite fell 0.14%, or 11.62 points to 8,292.36. Strong earnings from tech giants Facebook and Apple and a Federal Reserve rate cut were not enough to offset concerns around U.S.-China trade talks.

The major averages posted solid gains for October despite Thursday’s losses. The Dow and S&P 500 gained 0.3% and 0.5%, respectively, for the month. The Nasdaq ended October up 0.6%.

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Plan A : Short if market failed to support above 8100.25. Targets are 8060.50, 8029.75 and 8001.25.
Plan B : Long if market retraced but supported firm above 7975.50. Targets are 8015.25, 8042.75 and 8075.50.

HSI

Hong Kong stocks closed higher on Thursday after the island city’s central bank cut interest rates, mirroring the U.S. Federal Reserve’s rate-cut announcement on Wednesday.

The Hang Seng index rose 0.9% to 26,906.72.

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Plan A : Above 26977, do nothing
Plan B : Below 26729, do nothing
Plan C : Attempt to long if market supported above 26742
Plan D : Cut below 26666
Plan E : Consider to short if market fails to breach above 26977
Plan F : Cut above 27103

WTI Crude

Oil prices came under pressure on Thursday from rising U.S. crude oil stocks and weak factory activity in China, with few bullish factors on the horizon.

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Plan A : Attempt sell if oil price remain trading below 54.9

Plan B : Cut above 55.4

Plan C : Consider buying if oil price holds resiliently above 54.1

Plan D : Cut below 53.7

Gold

Gold prices climbed on Thursday as the U.S. dollar weakened after the Federal Reserve cut interest rates for the third time this year, but signaled the monetary-easing cycle would be paused.

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Plan A : Remain buy as long as gold price holds steadily above 1507.4

Plan B : Exit below 1502

Plan C : Consider selling only if gold price surges but fails to breach above 1518.2

Plan D : Cut above 1524

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 correctaysion, 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.