31 October 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 were little changed on Wednesday as investors digested a fresh batch of earnings reports ahead of a widely expected interest rate cut by the Federal Reserve later in the day.

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Plan A : Continue to hold buy as long as market stays above 27135. Targets are 27165, 27205, and 27235.

Plan B : Cut below 27100.

Plan C : Attempt to sell if market does not breach above 27218. Targets are 27190 and 27155.

Plan D : Cut above 27250.

E-Mini S&P 500

U.S. stocks advanced on Wednesday, with the S&P 500 closing at a record for the second time in three sessions, after a policy statement by the U.S. Federal Reserve that cut interest rates by a quarter of a percentage point.

The Fed lowered its policy rate to a target range between 1.50% and 1.75%, but dropped a previous reference in its statement to “act as appropriate” to sustain the economic expansion, which could signal the Fed may hold off on future rate cuts. 

The S&P 500 gained 9.88 points, or 0.33%, to 3,046.77. About 74.1% of the 278 S&P 500 companies that have reported so far have beaten profit estimates, according to Refinitiv data.

Hopes of a rate cut and recent optimism around the trade talks had helped lift the benchmark S&P 500 to record intraday highs for three straight sessions. 

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Plan A : Short if market failed to support above 3028.50. Targets are 3013.50, 3000.25 and 2992.50.
Plan B : Long if market retraced but supported firm above 2997.25. Targets are 3012.50, 3021.75 and 3032.50.

E-Mini Nasdaq

Stocks rose on Wednesday as investors cheered the Federal Reserve’s third rate cut of the year and comments from Chairman Jerome Powell that signaled it would be a while before the central bank hikes rates.

The Nasdaq Composite advanced 0.33% to 8,303.98. On the Nasdaq, a 1.01-to-1 ratio favored decliners. The Nasdaq Composite recorded 67 new highs and 72 new lows.

The Federal Reserve struck the right tone with investors, noting it is a long way from hiking rates. 

Investors will digest the latest earnings reports from Apple and Facebook,  released after the bell Wednesday. Other company earnings investors will focus on include Dunkin Brands, Kraft Heinz and Fiat Chrysler.

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Plan A : Short if market failed to support above 8060.25. Targets are 8019.75, 7991.25 and 7961.25.
Plan B : Long if market retraced but supported firm above 7975.50. Targets are 8015.25, 8044.50 and 8073.50.

HSI

Hong Kong stocks closed lower on Wednesday, as renewed worries over the prospects of a Sino-U.S. trade deal dampened sentiment.

The Hang Seng index fell 0.4%, to 26,667.71.

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Plan A : Above 27103, do nothing
Plan B : Below 26729, do nothing
Plan C : Attempt to long if market supported above 26799
Plan D : Cut below 26706
Plan E : Consider to short if market rebounds but fails to breach above 26982
Plan F : Cut above 27103

WTI Crude

Oil prices extended losses Wednesday after a steep U.S. crude inventory build added to worries about a possible delay in resolving the U.S.-China trade war, which has hurt global oil demand.

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Plan A : Remain sell as long as oil price stays below 55.4

Plan B : Cut above 55.7

Plan C : Consider buying if oil price supports well above 54.9

Plan D : Cut below 54.2

Gold

Gold price fell slightly and then rose on Wednesday having touched a one-week low in the previous session, after the U.S. Federal Reserve lowered interest rates for the third time this year and indicated a pause is ahead.

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Plan A : Attempt buy as long as gold price trades firmly above 1490

Plan B : Cut below 1487

Plan C : Consider selling if gold price rebounds but fails to breach above 1498.7

Plan D : Cut above 1502

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.