Wednesday, April 1, 2020

02 April 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. stock index futures sank on Wednesday, as stark predictions of a rise in the U.S. death toll and worsening economic damage from the coronavirus pandemic led investors to ditch equities for safe-haven assets.

The Dow Jones indexes ended Tuesday with the worst opening quarters in history as efforts to contain the virus resulted in store closures, massive staff furloughs and a virtual halt in business activity.

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Plan A : Continue to hold short if market does not breach above 21005. Targets are 20970, 20930 and 20885.
Plan B : Cut above 21040.
Plan C : Long if market rebounds from 21005. Targets are 21040 and 21095.
Plan D : Cut below 20970.


E-Mini S&P 500


Stocks sank on Wednesday as Wall Street kicked off the second quarter on a sour note amid concerns the coronavirus will keep the economy shut down longer than expected. 

The Dow closed 973.65 points lower, or 4.4%, at 20,943.51. The S&P 500 slid 4.4% to 2,470.50 along with the Nasdaq Composite, which closed at 7,360.58. The major averages hit their session lows in the final minutes of trading, with the Dow briefly falling more than 1,100 points. 

Boeing, American Express and Dow Inc all fell more than 7.5% to lead Dow industrials lower. Real estate investment, utilities, energy and financials led the S&P 500 lower with each of those sectors down at least 5%.

Data from ADP and Moody’s Analytics showed U.S. companies cut 27,000 jobs through March 12. Actual losses for the month were far worse, as shown by the record number of jobless claims in the week or March 20. Meanwhile, ISM manufacturing index fell to 49.1 in March from 50.1 in February, signaling a contraction in U.S. manufacturing activity amid the pandemic. 

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Plan A : Long if market supported firm above 2478.25. Targets are 2503.25, 2524.50 and 2543.75.
Plan B : Short if market failed to support above 2478.25. Targets are 2453.25, 2430.50 and 2409.25.



E-Mini Nasdaq

U.S. stock futures rose in early morning trade on Thursday and pointed to gains at the day’s open, as markets try to rebound after kicking off the second quarter in the red.

Dow futures rose 398 points, indicating a gain of about 331 points at the open on Thursday. The S&P 500 and Nasdaq Composite were also set to open modestly higher.


Stocks posted steep losses on Wednesday to begin the second quarter, as the coronavirus outbreak continues to wreak havoc on global markets.

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Plan A : Long if market doesn't retrace much and supported firm above 7532.25. Targets are 7570.25, 7600.50 and 7633.25.
Plan B : Short if market failed to support above 7532.25. Targets are 7495.25, 7468.25 and 7437.25.



HSI

Hong Kong stocks dropped on Wednesday, in line with broader Asia, as worries persisted over the economic damage from the global coronavirus outbreak.

At the close of trade, the Hang Seng index was down 517.69 points or 2.19% at 23,085.79. 

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Plan A : Consider to short if market stays below 22725. Targets are 22640 and 22515. Cut above 22810.


Plan B : Long if market tested and rebounds from 22050. Targets are 22135 and 22220. Cut below 21965.


WTI Crude

Oil prices fell on Wednesday after U.S. crude inventories rose last week by the most since 2016, while gasoline demand fell sharply due to the coronavirus pandemic.


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Plan A : Attempt buying if oil price able to hold firm above 20.8
Plan B : Cut below 19.9
Plan C : Consider selling if oil price recovers but fails to breach above 21.2
Plan D : Cut above 22.0


Gold

Gold prices firmed on Wednesday as investors sought safe-haven assets after somber U.S. economic data exacerbated fears of an economic downturn amid increasing lockdowns and other restriction globally to combat the coronavirus pandemic.


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Plan A : Attempt selling if gold price trades below 1591.3
Plan B : Cut above 1594
Plan C : Consider buying only gold price holds resiliently above 1591.3


Plan D : Cut below 1586.6


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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