24 October 2019 Foreign

FUTURESCOIN IS GOING GLOBAL

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 after warnings from Caterpillar and Texas Instruments rekindled worries about a global economic slowdown due to U.S.-China trade tensions.

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Plan A : Consider to buy if market tested and rebounds from 26812. Targets are 26845, 26875 and 26908.

Plan B : Cut below 26775.

Plan C : Attempt to sell if market still does not breach above 26818. Targets are 26785, 26755 and 26705.

Plan D : Cut above 26850.

E-Mini S&P 500

U.S. stocks rose slightly on Wednesday as investors digested earnings reports from Caterpillar and Boeing. Both Caterpillar and Boeing reported quarterly numbers that badly missed analyst expectations.

The  S&P 500 gained 0.28% or +8.53 points to close at 3,004.52. Wednesday’s nudged the S&P 500 closer to a record set in July. The index is less than 1% from that level.

Thursday marks the busiest day of the earnings season, with 45 S&P 500 companies scheduled to report. Amazon, Visa, Intel, 3M and Twitter are among the companies set to release their results. 

The third-quarter earnings season has largely topped analyst expectations. Of the S&P 500 companies that have reported through Wednesday morning, 81% have posted better-than-expected results, according to FactSet.

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Plan A : Sell only if market failed to support above 2988.50. Targets are 2973.25, 2962.50 and 2951.25.
Plan B : Buy if market retraced but supported firm above 2947.50. Targets are 2963.25, 2974.25 and 2984.75.

E-Mini Nasdaq

The U.S. stock market continued to show resilience Wednesday, despite a series of disappointing earnings reports, reflecting investor faith in the Federal Reserve and the Chinese government to engineer a rebound in global economic growth, analysts told MarketWatch.

The Nasdaq Composite gained 0.19% or +15.49 points to close at 8,119.79. The major averages struggled for direction as the corporate earnings season rolled on.

European stocks advanced alongside Asian peers as a raft of upbeat corporate results helped investors shrug off more signs that global economic growth is losing momentum. Most sovereign bonds were steady in the countdown to several monetary policy decision, including in Europe. The Stoxx Europe 600 Index opened in the green as every major national gauge in the region climbed. 

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Plan A : Sell if market failed to support above 7932.50. Targets are 7892.50, 7862.50 and 7832.25.
Plan B : Buy if market retraced but supported firm above 7853.25. Targets are 7893.25, 7923.25 and 7953.50.

HSI

Hong Kong stocks on Wednesday hit their lowest close in a week as economic headwinds and political unrest in the Asian financial centre weighed, despite government’s efforts to re-energise growth.

At the close of trade, the Hang Seng index was down 0.8% at 26,566.73 points, its lowest closing level since October 16.

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Plan A : Above 26987, do nothing
Plan B : Below 26397, do nothing
Plan C : Consider to sell if market does not breach above 26678
Plan D : Cut above 26768
Plan E : Consider to long if market rebounds from 26425
Plan F : Cut below 26345

WTI Crude

Oil rose 2.7% on Wednesday after government data showed a surprise draw in U.S. crude stocks and as the prospect of deeper output cuts by OPEC and its allies offered support.

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Plan A : Remain buy as long as oil price stays above 55.4

Plan B : Exit below 54.6

Plan C : Consider selling if oil price fails to breach above 55.8

Plan D : Cut above 56.1

Gold

Gold rose on Wednesday as some investors sought refuge in the metal after UK lawmakers pushed the pause button on Brexit, while expectations of further monetary easing by central banks lent further support.

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Plan A : Attempt buy if gold price stood firm above 1490

Plan B : Cut below 1487

Plan C : Consider selling if gold price fails to hold above 1490

Plan D : Cut above 1496

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.