13 January 2020 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 futures held on to their gains on Friday after job growth slowed more than expected in December, but the pace of hiring remains more than enough to keep the longest economic expansion in history humming along.

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Plan A : Attempt to long if market still stays firm above 28808. Targets are 28845, 28890 and 28935.

Plan B : Cut below 28775.

Plan C : Consider to short if market does not breach above 28855. Targets are 28820, 28775 and 28730.

Plan D : Cut above 28890.

E-Mini S&P 500

The S&P 500 could advance by 10-20% this year, but investors should hold off on buying for the next few weeks, according to Chris Watling, the CEO of independent financial research firm Longview Economics.

In a note published this week, Longview said its current market timing models are close to “sell” for the U.S. index, since risk appetite has become “greedy” and markets are “complacently priced.”

U.S. stocks jumped to record highs on Thursday as tensions between Iran and the U.S. cooled, with the S&P 500 closing 0.7% higher at 3,274.70. The index has surged 26.68% over the last twelve months. Watling recommended remaining “neutral” while high levels of risk appetite and sell signals unwind.

The S&P 500 lost 0.29% to end the day at 3,265.35. The financials and industrial sectors dropped at least 0.7% each to drag down the S&P 500. The S&P 500 is up 0.9% for the week. 

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Plan A : Long if market supported firm above 3269.50. Targets are 3283.25, 3292.50 and 3300.75.
Plan B : Short if market failed to support above 3269.50. Targets are 3254.50, 3243.25 and 3232.50.

E-Mini Nasdaq

Stocks fell on Friday, reversing from all-time highs, as investors digested weaker-than-expected jobs data to end a volatile week full of geopolitical concerns. 

The Nasdaq Composite dipped 0.27% to 9,178.86. The major averages still posted solid weekly gains despite Friday’s muted performance. The Nasdaq is up 1.8% for the week. 

The U.S. economy added 145,000 jobs in December. Economists polled by Dow Jones expect the U.S. economy to have added 160,000 jobs in December.

Wages also disappointed, growing by just 2.9% on a year-over-year basis. Economists had forecast a gain of 3.1%. December was also the first month since July 2018 that wages grew by less than 3% from the year before.

Asian stocks and U.S. futures advanced on Monday, while Treasuries, the yen and gold retreated, on optimism over China’s economy and the prospect of a signed U.S. trade deal.

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Plan A : Long if market supported firm above 8995.50. Targets are 9024.25, 9043.50 and 9065.25.
Plan B : Short if market failed to support above 8995.50. Targets are 8964.25, 8943.50 and 8922.75.

HSI

Hong Kong stocks closed higher for the sixth straight week on Friday as investors remained upbeat in the run up to the signing of the Phase 1 trade deal between China and the United States.

At the close of trade, the Hang Seng index was up 0.3% at 28,638.20, near its highest level since Jan. 3 hit earlier in the session. The index ticked up 0.7% from the previous week.

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Plan A : Above 29025, do nothing.
Plan B : Below 28380, do nothing.
Plan C : Attempt to long if market declines but still supported above 28551.
Plan D : Cut below 28475.
Plan E : Consider to short if market surges but does not breach above 28947.
Plan F : Cut above 29025.

WTI Crude

Oil fell on Friday to cap its worst week since July as tensions in the Middle East over Iran eased for now and investors focused on rising U.S. inventories and other signs of ample supply.

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Plan A : Attempt selling if oil price stays below 59.3

Plan B : Cut above 60.0

Plan C : Consider buying if oil price able to hold firm above 58.9

Plan D : Cut below 58.5

Gold

Gold inched up on Friday, helped by disappointing U.S. nonfarm payrolls data, but abating tensions in the Middle East that bolstered appetite for risk assets kept the bullion's gains in check.

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Plan A : Attempt selling if gold price stays below 1556.7

Plan B : Cut above 1662.0

Plan C : Consider buying if gold price able to trades firmly above 1556.7

Plan D : Cut below 1554.0

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.