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
U.S. stock index futures surged more than 3% on Monday, overturning early losses after the Federal Reserve took unprecedented steps to support U.S. households and companies more directly with credit as it seeks to blunt the economic damage from the coronavirus pandemic.
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Plan A : Attempt to short if market does not breach above 19515. Targets are 19480, 19440 and 19395.
Plan B : Cut above 19550.
Plan C : Consider to long only if market rebounds from 18735. Targets are 18770, 18810 and 18855.
Plan D : Cut below 18695.
Plan D : Cut below 18695.
E-Mini S&P 500
President Donald Trump has long pointed to the stock market’s success under his administration as a tangible endorsement of his economic policies and had often boasted about the Dow's gains since his election. That was, of course, before investors knew about the new coronavirus.
The sell-off on the week’s first day of trading put the index down more than 37% from its all-time high notched in February. The S&P 500 was more than 34% below its February high by Monday’s close.
Stocks sank again Monday, after an emergency fiscal stimulus package was again rejected by the Senate and even a new round of cash injection from the Federal Reserve failed to raise trader optimism.
The Dow Jones Industrial Average closed with a decline of almost 600 points, tracking its way toward the worst month for the blue-chip index since 1931.
Trader sell-off was fueled by tightening financial conditions even after “extensive new measures to support the economy” announced by the Federal Reserve. The central bank said Monday it would inject billions more into the financial system, boost credit flow for businesses and consumers, and provide $300 billion in new financing.
However, traders are laser focused on the stimulus plan that is currently stalled on Capitol Hill and was kicked back again earlyt Monday afternoon, with lawmakers saying it would not get another pass until Friday.
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Plan A : Long if market supported firm above 2286.50. Targets are 2311.50, 2326.25 and 2341.50.
Plan B : Short if market failed to support above 2286.50. Targets are 2261.25, 2240.25 and 2219.50.
Plan B : Short if market failed to support above 2286.50. Targets are 2261.25, 2240.25 and 2219.50.
E-Mini Nasdaq
Futures contracts tied to the major U.S. stock indexes posted a modest rise in early Tuesday morning trade.
As of 2:17 a.m ET., Dow futures rose 785 points, implying an opening gain of around 820 points. S&P 500 and Nasdaq futures also pointed to opening gains.
The Dow dropped 582.05 points, or 3%, on Monday and remained on pace to clinch its worst calendar month since 1931. The S&P 500 dropped 2.9% to 2,237.40 and closed 34% below a record set last month as both indexes sank further into bear markets amid the COVID-19 outbreak. The tech-heavy Nasdaq held up best, with a decline of just 0.2 percent.
Earlier in Monday’s session, a bill that would authorize giant fiscal spending to stimulate the economy failed to clear a key procedural hurdle. The Senate disagreement came despite Treasury Secretary Steven Mnuchin’s optimism to CNBC’s Jim Cramer that Congress was “very close” to getting a fiscal package done, noting it must be pushed forward “today.”
Futures contracts tied to the major U.S. stock indexes posted a modest rise in early Tuesday morning trade.
As of 2:17 a.m ET., Dow futures rose 785 points, implying an opening gain of around 820 points. S&P 500 and Nasdaq futures also pointed to opening gains.
The Dow dropped 582.05 points, or 3%, on Monday and remained on pace to clinch its worst calendar month since 1931. The S&P 500 dropped 2.9% to 2,237.40 and closed 34% below a record set last month as both indexes sank further into bear markets amid the COVID-19 outbreak. The tech-heavy Nasdaq held up best, with a decline of just 0.2 percent.
Earlier in Monday’s session, a bill that would authorize giant fiscal spending to stimulate the economy failed to clear a key procedural hurdle. The Senate disagreement came despite Treasury Secretary Steven Mnuchin’s optimism to CNBC’s Jim Cramer that Congress was “very close” to getting a fiscal package done, noting it must be pushed forward “today.”
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Plan A : Long if market supported firm above 7308.25. Targets are 7339.25, 7369.50 and 7398.50.
Plan B : Short if market failed to support above 7308.25. Targets are 7267.25, 7297.50 and 7265.25.
Plan A : Long if market supported firm above 7308.25. Targets are 7339.25, 7369.50 and 7398.50.
Plan B : Short if market failed to support above 7308.25. Targets are 7267.25, 7297.50 and 7265.25.
Plan B : Short if market failed to support above 7308.25. Targets are 7267.25, 7297.50 and 7265.25.
HSI
HSI
Hong Kong stocks fell on Monday by their most in nearly 26 months, joining a global sell-off as national lockdowns to contain the spread of the coronavirus outbreak threatened to overshadow policymakers’ efforts to prevent a global recession.
The Hang Seng index fell 4.9% to 21,696.13, posting its biggest drop since Feb. 6, 2018.
Hong Kong stocks fell on Monday by their most in nearly 26 months, joining a global sell-off as national lockdowns to contain the spread of the coronavirus outbreak threatened to overshadow policymakers’ efforts to prevent a global recession.
The Hang Seng index fell 4.9% to 21,696.13, posting its biggest drop since Feb. 6, 2018.
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Plan A : Short if market does not breach above 23105. Targets are 23030 and 22945. Cut above 23140.
Plan B : Attempt to long if market rebounds firmly from 22140. Targets are 22215 and 22300. Cut below 22065.
WTI Crude
Oil jumped more than 3% on Monday as the Federal Reserve announced aggressive assets purchases to support markets. The move higher was a reversal from last week's steep declines, which saw U.S. Texas Intermediate crude post its worst week since 1991.
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Plan A : Remain buy as long as oil price stays firm above 23.7
Plan B : Cut below 23.1
Plan C : Consider selling if oil price surges but fails to breach above 24.6
Plan D : Cut above 25.8
Gold
Gold prices soared more than 4% on Monday, shrugging off early losses after the U.S. Federal Reserve took aggressive new steps to combat the economic impact of the coronavirus outbreak, boosting investor sentiment.
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Plan A : Remain buy as long as gold price stays firm above 1547.0
Plan B : Exit below 1544.0
Plan C : Consider selling if gold price surges but fails to breach above 1569
Plan D : Cut above 1577
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