24 January 2020 Foreign

FUTURESCOIN IS GOING GLOBAL

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

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E-Mini Dow

The S&P 500 ended slightly higher and the Nasdaq eked out a record high close on Thursday, helped by a jump in Netflix, while news about the coronavirus outbreak spreading from China and mixed earnings result kept a lid on the market.

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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 26.18 points, or 0.09% to end the day at 29,160.09. The S&P 500 climbed 0.11% to 3,325.54. The Nasdaq Composite advanced 0.20% to 9,402.48. Stocks closed well off their session lows as worries over the deadly coronavirus eased.

More than 12% of S&P 500 companies have reported quarterly earnings. Of those companies, about 70% have beaten analyst expectations, FactSet data shows.

Shares of American and United airlines gained 5.42% and 1.85%, respectively, on the back of the WHO’s comments regarding the coronavirus. Biotechnology companies Gilead Sciences and Inovio Pharmaceuticals also gained 0.80% and 11.63%, respectively.

American Express is scheduled to report earnings on Friday morning. IHS Markit is also scheduled to release data on the U.S. manufacturing and services sectors.

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Plan A : Long if market supported firm above 3325.25. Targets are 3336.25, 3344.50 and 3356.75.
Plan B : Short if market failed to support above 3325.25. Targets are 3310.25, 3298.50 and 3289.75. 

E-Mini Nasdaq

Stocks closed little changed on Thursday, recovering most of their losses from earlier in the session, after the World Health Organization quelled some of the fears around the deadly coronavirus.

Asian shares tumbled overnight, while Chinese Treasury futures surged, as fears of an economic fallout from the virus sent investors running for cover. The Shanghai Composite dropped 2.75%, its biggest one-day loss since May 6, when it plummeted 5.6%. In Japan, the Nikkei 225 dropped 1% along with Korea’s Kospi index.

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Plan A : Short if market failed to support above 9231.25. Targets are 9198.50, 9170.50 and 9136.75.
Plan B : Long if market doesn't retrace much but supported firm above 9231.25. Targets are 9262.50, 9286.75 and 9311.25.

HSI

China and Hong Kong stocks dropped sharply on Thursday, with investors dumping shares of restaurants, cinemas, casinos, airlines and theme parks, as China locked down the city at the epicentre of the outbreak to contain the spread of coronavirus. 

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Plan A : Above 28030, do nothing.
Plan B : Below 27591, do nothing.
Plan C : Attempt to long if market retrace but supported firmly above 27591.
Plan D : Cut below 27550.
Plan E : Consider to short if market trades below 27794. 
Plan F : Cut above 27861.

WTI Crude

Oil prices fell 2% on Thursday on concern that the spread of a virus from China could lower fuel demand if it stunts economic growth, but losses were limited by a drawdown in U.S. crude inventories.

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Plan A : Attempt selling if oil price stays trading below 55.9

Plan B : Cut above 56.3

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

Plan D : Cut below 55.3



Gold

Gold rose on Thursday as scaling concerns over a coronavirus outbreak in China and its impact on global economy soured sentiments for riskier assets, propping up demand for the safe-haven asset.

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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.