FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
E-Mini Dow
Wall Street plunged on Wednesday, with the Dow confirming a bear market for the first time since the 2008 financial crisis as the World Health Organization called the coronavirus outbreak a pandemic.
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Plan A : Remain short as long as market stays below 24115. Targets are 23850, 23450 and 23305.
Plan B : Cut above 24150.
Plan C : Attempt to long only if market stays firm above 23305. Targets are 23450, 23600 and 23850.
Plan D : Cut below 23280.
Plan D : Cut below 23280.
E-Mini S&P 500
The Dow Jones Industrial average fell into bear market territory Wednesday, and some analysts see a decline of another 10% or more before the selling subsides.
The Dow has lost 20.3% on an intra-day basis since Feb. 12 and a little more than 20% on a closing basis. A 20% decline is considered bear market territory. The S&P 500, down 4.9% Wednesday, temporarily touched a 20% loss in volatile afternoon trading. It is now 19.2% off its Feb. 19 high.
Goldman Sachs chief equity analyst David Kostin said Wednesday he expects the S&P 500 to hit a low of 2,450, more than 10% below its current closing level of 2,741. Kostin based his new view on a reduced expectation for S&P 500 earnings.
The market has increasingly fretted about the slow response by Washington to the spread of the virus. Economists say the Fed is taking action and is expected to take more, but a fiscal response is needed to head off a recession. Economist say targeting industries that are hard hit, like airlines and cruise lines, would help. In addition, providing support for unemployed workers is also expected.
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Plan A : Long if market supported firm above 2627.25. Targets are 2640.50, 2652.25 and 2662.50.
Plan B : Short if market failed to support above 2627.25. Targets are 2611.50, 2600.75 and 2592.50.
Plan B : Short if market failed to support above 2627.25. Targets are 2611.50, 2600.75 and 2592.50.
E-Mini Nasdaq
Futures contracts tied to the major U.S. stock indexes fell early Thursday after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus.
The move comes after the Dow ended its historic 11-year bull market run by closing in a bear market.
As of 2:33 a.m. ET Thursday, Dow futures were down 1,013 points, implying a loss of 973.22 points at the open. S&P 500 and Nasdaq 100 futures were also sharply lower.
In his address, Trump announced travel from Europe will be suspended for 30 says as part of the government’s response to the coronavirus. Trump also said the administration would provide financial relief for workers who are ill, caring for others due to the virus or are quarantined.
However, these announcements were not enough for investors who were looking for a more robust fiscal response to curb potentially slower economic growth.
Futures contracts tied to the major U.S. stock indexes fell early Thursday after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus.
The move comes after the Dow ended its historic 11-year bull market run by closing in a bear market.
As of 2:33 a.m. ET Thursday, Dow futures were down 1,013 points, implying a loss of 973.22 points at the open. S&P 500 and Nasdaq 100 futures were also sharply lower.
In his address, Trump announced travel from Europe will be suspended for 30 says as part of the government’s response to the coronavirus. Trump also said the administration would provide financial relief for workers who are ill, caring for others due to the virus or are quarantined.
However, these announcements were not enough for investors who were looking for a more robust fiscal response to curb potentially slower economic growth.
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Plan A : Long if market supported firm above 7654.25. Targets are 7680.25, 7700.50 and 7724.75.
Plan B : Short if market failed to support above 7654.25. Targets are 7618.25, 7588.50 and 7559.50.
HSI
Hong Kong stocks closed lower on Wednesday, tracking Asian markets that fell due to growing uncertainty over global policy efforts to arrest the economic loss from the coronavirus epidemic.
Plan A : Long if market supported firm above 7654.25. Targets are 7680.25, 7700.50 and 7724.75.
Plan B : Short if market failed to support above 7654.25. Targets are 7618.25, 7588.50 and 7559.50.
Plan B : Short if market failed to support above 7654.25. Targets are 7618.25, 7588.50 and 7559.50.
Hong Kong stocks closed lower on Wednesday, tracking Asian markets that fell due to growing uncertainty over global policy efforts to arrest the economic loss from the coronavirus epidemic.
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Plan A : Long only if market rebounds from 24815. Targets are 24980 and 25114. Cut below 24770.
Plan B : Short if market recovers but does not breach above 25114. Targets are 24980 and 24815. Cut above 25180.
WTI Crude
Oil prices fell on Wednesday, giving up earlier gains, after Saudi Aramco said it had been directed by the energy ministry to raise its production capacity by a million barrels per day.
WTI Crude
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Plan A : Remain sell as long as oil price stays below 33.7
Plan B : Cut above 34.5
Plan C : Consider buying if oil price tumbles but holds firm above 32.5
Plan D : Cut below 32.0
Gold
Gold prices fell on Wednesday after rising as much as 1.3% earlier in the session, as traders sold the precious metal to cover margins for stock markets spooked by the global spread of coronavirus.
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Plan A : Remain sell as long as oil price stays below 33.7
Plan B : Cut above 34.5
Plan C : Consider buying if oil price tumbles but holds firm above 32.5
Plan D : Cut below 32.0
Gold
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Plan A : Attempt buy only if gold price holds firm above 1650
Plan B : Cut below 1641
Plan C : Consider selling if gold price surges but fails to breach above 1663
Plan D : Cut above 1667.8
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.
Plan A : Attempt buy only if gold price holds firm above 1650
Plan B : Cut below 1641
Plan C : Consider selling if gold price surges but fails to breach above 1663
Plan D : Cut above 1667.8
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.
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