23 January 2020 Foreign

FUTURESCOIN IS GOING GLOBAL

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

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E-Mini Dow

Technology shares led the S&P 500 marginally higher on Wednesday, as a healthy forecast from IBM helped mitigate worries over the developing coronavirus outbreak. Dow Jones fell 9-points to settle at 29186.

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Plan A : Continue to hold long if market stays firm above 29060. Targets are 29160, 29230 and 29320.

Plan B : Cut below 29030.

Plan C : Consider to short if market trades below 29108. Targets are 29060, 29030 and 28875.

Plan D : Cut above 29130.

E-Mini S&P 500

The Dow fell 9.77 points, or 0.03% to 29,186.27. The S&P 500 advanced 0.03% to end the day at 3,321.75. The Nasdaq Composite closed 0.14% higher at 9,383.77. Strong earnings from IBM sparked a rally in tech stocks, which lifted the S&P 500 and Nasdaq to record highs.

IBM posted a profit of $4.71 per share on revenue of $21.77 billion. Analysts polls by Refinitiv expected earnings per share of $4.69 on revenue of $21.64 billion. This propelled not only a jump in the stock, but also gains in the broader tech sector. IBM added to what has already been a strong start to the earnings season. However, some investors worry the market may be overly optimistic over the prospect of further gains. If euphoria takes over the market, it could eventually lead to a steep downturn.

Apple shares rose 0.36% and hit a record high. IBM was the best-performing stock in the Dow, rising 3.39%. Boeing, however, offset some of those gains with a 1.39% drop.

The weekly jobless claims data is set for release Thursday morning. NBCUniversal-parent Comcast, Procter & Gamble and American Airlines are among the companies slated to report earnings. 

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Plan A : Short if market failed to support above 3317.25. Targets are 3300.25, 3291.75 and 3282.25.
Plan B : Long if market supported firm above 3317. Targets are 3330.25, 3339.50 and 3348.25.

E-Mini Nasdaq

U.S. stock index futures fell on Thursday morning.

At around 2:30 a.m. ET, Dow futures were down 42 points, indicating an implied negative open of more than 45 points. Futures on the S&P 500 and Nasdaq were also lower.

The spread of the China coronavirus has placed renewed downward pressure on global equity markets, with the death toll rising to 17 and the World Health Organization set to reconvene Thursday to decide whether to declare a global health emergency.

On Wednesday, the number of confirmed cases of the new strain of coronavirus, which originated in China’s Wuhan city and has now been detected throughout Asia and as far away as the U.S., reached 571.

Asian shares tumbled overnight, while Chinese Treasury futures surged, as fears of an economic fallout from the virus sent investors running for cover.

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Plan A : Short if market failed to support above 9184.50. Targets are 9153.50, 9132.25 and 9104.75. 
Plan B : Long if market supported firm above 9184.50. Targets are 9214.25, 9235.50 and 9252.50.

HSI

Asian stock markets bounced on Wednesday as China's response to a virus outbreak tempered fears of a global pandemic, although Shanghai's slipped amid worries about a hit to domestic demand and tourism. Hang Seng on the other hand, rose by more than half a percentage point after heavy drops on Tuesday.

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Plan A : Above 28444, do nothing.
Plan B : Below 28100, do nothing.
Plan C : Attempt to long if market retrace but supported firmly above 28167.
Plan D : Cut below 28100.
Plan E : Consider to short if market trades below 28268. 
Plan F : Cut above 28320.

WTI Crude

Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries outweighed concern over disruptions to Libya's crude output.

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Plan A : Attempt selling if oil price stays trading below 56.5

Plan B : Cut above 57.4

Plan C : Consider buying if oil price supports resiliently above 55.9

Plan D : Cut below 55.3



Gold

Gold eased slightly on Wednesday as risk sentiment recovered and the dollar held firm, but expectations of dovish monetary policy from global central bank capped bullion's losses and kept prices above the $1,550 an ounce level.

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Plan A : Attempt buying if gold price trades firmly above 1556.7

Plan B : Cut below 1549.2

Plan C : Consider selling if gold price fails to hold above 1556.7

Plan D : Cut above 1560

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.