02 December 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. stocks were set to open lower for the first time this week on Friday, as trade tensions resurfaced after China rebuked President Donald Trump’s decision to ratify a bill backing protesters in Hong Kong.

The legislation knocked global stocks off near-record highs on Thursday, when U.S. markets were closed for Thanksgiving Day. 

Wall Street has notched all-time closing highs in every session so far this week on upbeat domestic data and hopes of an imminent “phase one” trade deal.

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Plan A : Attempt to long if market stays firm above 28075. Targets are 28115, 28150 and 28195.

Plan B : Cut below 28040.

Plan C : Attempt to sell if market fails to support above 28115. Targets are 28080, 28045 and 28000.

Plan D : Cut above 28150.

E-Mini S&P 500

The S&P 500 closed -0.27% at 3,145.27.  Stocks fell in a shortened trading session but still posted their best monthly performance since June.

The S&P 500 rose more than 3% for November, notching its biggest one-month gain since June when it rallied more than 6%. Optimism around U.S.-China trade relations and a milder-than-expected pullback in corporate earnings helped drive the market’s strong performance this month. However, the signing of two U.S. laws supporting Hong Kong protesters dampened some of that positive sentiment as a key Dec. 15 deadline approaches. China also threatened on Friday to take "strong counter-measures" against the U.S.

The S&P 500 energy sector dropped 1.01% after crude prices shed more than 4%. Helmerich & Payne and Devon Energy were among the sector’s biggest laggards, sliding 2.30% and 2.75%, respectively.

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Plan A : Short if market failed to support above 3134.25. Targets are 3119.75, 3108.50 and 3098.25.
Plan B : Long if market retraced but supported firm above 3134.25. Targets are 3148.25, 3158.50 and 3167.25.

E-Mini Nasdaq

Stocks have had a bang-up year so far, and they’re heading straight into the month that is often the best of all.

Stocks, however, were lower Friday in sluggish trading after the Thanksgiving holiday. Through Wednesday, the Dow, S&P 500 and Nasdaq had all popped to new record highs, with consumer discretionary and tech names leading the market higher this past week. 

The Nasdaq Composite fell 0.46% to end the day at 8,665.47.

Investors will turn their attention to the latest reading on the ISM manufacturing index and construction spending data on Monday. Wall Street will also watch out for any potential retaliation from China. 

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Plan A : Short if market failed to support above 8422.25. Targets are 8382.25, 8355.25 and 8328.75.
Plan B : Long only if market retraced but supported firm above 8422.25. Targets are 8465.25, 8490.50 and 8523.25. 

HSI

Hong Kong stocks ended the week lower, dampened by renewed doubts over the prospects of a Sino-U.S. trade deal and on signs of economic damage from persistent anti-government protests in the Asian financial hub.

The Hang Seng index ended down 2% at 26,346.49 on Friday.  For the week, HSI was down 0.9%.

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Plan A : Above 26787, do nothing
Plan B : Below 26069, do nothing
Plan C : Continue to short if market stays below 26540
Plan D : Cut above 26666
Plan E : Consider to long if market tested and rebounds from 26069
Plan F : Cut below 25985

WTI Crude

Oil prices dropped 4% on Friday, cutting into a winning month for crude. Traders chalked the decline up to the resignation announcement of Iraq's prime minister after weeks of deadly protests, as well as investors jockeying for position before the OPEC+ meeting next week.

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Plan A : Attempt buying only if oil price able to trade firmly above 55.9

Plan B : Cut below 55.4

Plan C : Consider selling if oil price recovers but fails to hold firm above 55.9

Plan D : Cut above 56.1

Gold

Gold price moves sideways on Friday, with market awaiting further developments on how U.S.-China trade talks would proceed after Beijing said it would take retaliatory measures against Washington for passing a law in support of Hong Kong protesters.

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Plan A : Attempt buying if gold price stays firm above 1457.3

Plan B : Cut below 1452.8

Plan C : Consider selling if gold price recovers but fails to breach above 1464.2

Plan D : Cut above 1468.9

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.