Thursday, April 16, 2020

17 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 jumped in late trading on Thursday after a report of promising early data related to a potential COVID-19 treatment from Gilead Sciences and as guidelines for re-opening the U.S. economy came from the White House.

Also boosting sentiment after hours was President Donald Trump’s guidelines that revealed a three-phase plan that could allow some states to begin as early as this month lifting limits meant to contain the disease’s spread.

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Plan A : Short if market falls below 23995. Targets are 23960, 23920 and 23875.
Plan B : Cut above 24030.
Plan C : Long if market constantly trade above 24025. Targets are 24060 and 24105.
Plan D : Cut below 23990.


E-Mini S&P 500

U.S. stock futures surged after a report said a Gilead Sciences drug was showing effectiveness in treating the coronavirus. The move pointed to a jump for the stock market on Friday.

Dow futures were up 705 points, implying a Friday opening gain of about 692 points. S&P 500 futures and Nasdaq 100 futures also pointed to gains for the two indexes at the Friday open.

Gilead shares jumped by 16.41% in after-hours trading after STAT news reported that a Chicago hospital treating coronavirus patients with Remdesivir in a trial were recovering rapidly from severe symptoms. The publication cited a video it obtained where the trial results were discussed.

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Plan A : Long if market doesn't retrace much but supported firm above 2826.25. Targets are 2851.25, 2873.25 and 2895.75.
Plan B : Short if market failed to support above 2826.25. Targets are 2800.75, 2779.25 and 2761.75.


E-Mini Nasdaq


Stocks rose slightly on Thursday, led by tech, as Wall Street grappled with more concerns over the coronavirus outbreak and dismal economic data. Tech got a lift as investors loaded up on stocks that benefit from more people staying home during the outbreak. 

The Dow closed 33.33 points higher, or 0.1%, at 23,537.68. The Dow was down more than 200 points earlier in the day. The S&P 500 gained 0.6% to close at 2,799.55 while the Nasdaq Composite advanced 1.7% to 8,532.36. The Nasdaq 100, which is composed of the 100 largest stocks in the composite, jumped nearly 2% and erased its 2020 losses.

Netflix and Amazon each rose more than 2.5% to record levels, leading major tech stocks higher. Netflix’s gains were driven by a big price-target increase from a Goldman Sachs analyst. 


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Plan A : Long if market doesn't retrace much but supported firm above 8878.25. Targets are 8905.25, 8938.25 and 8969.25.
Plan B : Short if market failed to support above 8878.25. Targets are 8838.25, 8805.25 and 8774.25.



HSI

The Hong Kong stock market drifted to its lowest level in over a week as worries about the coronavirus outbreak’s economic impact weighed, ahead of China’s first-quarter GDP data that is likely to be the worst in nearly three decades.

The Hang Seng index closed down 0.6% at 24,006.45, after hitting its lowest level since April 7 earlier in the session.

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Plan A : Short if market surges but does not breach 24435. Targets are 24345 and 24260. Cut above 24510.Plan B : Long if market rebounds from 24435. Targets are 24520 and 24615. Cut below 24350.




WTI Crude

Oil prices held steady at a 18-year low on Thursday after OPEC lowered its global oil demand forecast due to the "historic shock" delivered by the coronavirus outbreak.

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Plan A : Remain sell as long as oil price stays below 20.6
Plan B : Exit above 20.9
Plan C : Consider buying only if oil price trades resiliently above 19.8
Plan D : Cut below 19.4



Gold

Gold retreated slightly after climbing as much as 1.3% earlier on Thursday, as U.S. jobless claims fell marginally and on hopes virus-led restrictions will ease, though concerns of a global recession kept bullions' appeal intact.

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Plan A : Attempt buy if gold trades resiliently above 1716
Plan B : Cut below 1709
Plan C : Consider selling if gold price attempts to rebound but fails breach above 1733.8
Plan D : Cut above 1743


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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