Monday, April 20, 2020

21 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 fell on Monday as a slump in oil prices pounded energy stocks, with investors also bracing for another batch of dour first-quarter earnings reports and economic data.

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Plan A : Continue to hold short if market stays below 23750. Targets are 23715, 23675 and 23630.
Plan B : Cut above 23785.
Plan C : Long if market rebounds from 23695. Targets are 23740 and 23785.
Plan D : Cut below 23660.


E-Mini S&P 500


Stocks fell sharply Monday, retreating after back-to-back weekly gains, as a historic decline in U.S. crude prices raised concerns about the economic damage being done by coronavirus shutdowns. A delay in funding for the depleted small business rescue loan program also weighed on sentiment.

The Dow closed 592.05 points lower, or 2.5%, 23,650.44. The S&P 500 slid 1.8% to 2,823.16. The Nasdaq Composite pulled back 1% to 8,560.73. 

Boeing fell more than 6% to lead the Dow lower while Chevron and Exxon Mobil dropped more than 4% each. Energy, real estate and utilities were the worst-performing sectors in the S&P 500, falling more than 3% each. 

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Plan A : Short if market failed to support above 2769.25. Targets are 2741.25, 2724.50 and 2703.50.
Plan B : Long if market doesn't retrace much but supported firm above 2769.25. Targets are 2794.25, 2815.50 and 2834.75.


E-Mini Nasdaq

Stocks dropped on Monday to start another likely volatile week, with the Dow falling nearly 600 points, as an unprecedented plunge in oil prices weighed on investor sentiment. West Texas Intermediate crude for May delivery fell more than 100% to settle at negative $37.63 per barrel, highlighting just how much demand has collapsed due to the coronavirus pandemic.

Stock futures reversed in early morning trading Tuesday as oil prices bounced off their lows following an unprecedented wipeout.

Futures on the Dow fell 113 points, implying an opening drop of about 164 points. S&P 500 futures and Nasdaq futures also pointed to lower Tuesday opens for the indexes.

IBM slipped 3.08% in extended trading after the company reported a 3.4% decline in revenue in the first quarter from a year ago amid the spread of coronavirus. Coca-Cola, Netflix and Chipotle are on deck to report earnings on Tuesday.

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Plan A : Short if market failed to support above 8646.25. Targets are 8607.25, 8572.25 and 8542.25.
Plan B : Long if market supported firm above 8646.25. Targets are 8687.25, 8715.25 and 8748.25.


HSI

Hong Kong stocks ended lower on Monday, tracking other Asian markets, amid expectations that a busy week of corporate earnings reports and economic data would drive home the damage done by the global coronavirus-led lockdowns.

At the close of trade, the Hang Seng index was down 49.98 points, or 0.21%, at 24,330.02.

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Plan A : Continue to short if market stays below 24038. Targets are 23955 and 23860. Cut above 24123.

Plan B : Long if market rebounds from 24038. Targets are 24115 and 24200. Cut below 23953.


WTI Crude

May futures contract for U.S. crude oil dropped more than 100% and turned negative for the first time in history on Monday, showing just how much demand has collapsed due to the coronavirus pandemic.

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Plan A : Remain sell as long as oil price stays below 22.3
Plan B : Cut above 22.6
Plan C : Consider buying only if oil price trades resiliently above 20.7
Plan D : Cut below 20.1



Gold

Gold edged higher from a more than one-week low hit earlier on Monday, helped by dwindling share markets as U.S. crude prices plunged and concerns about coronavirus-linked economic damage persisted.

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Plan A : Attempt sell if gold price trades below 1709
Plan B : Cut above 1718.4
Plan C : Consider buying if gold price trades firmly above 1709
Plan D : Cut below 1703



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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