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 climbed on Wednesday, with Nasdaq futures inching closer to a record high as investors remained optimistic about an economic rebound from a coronavirus-led slump amid continuing social unrest.
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Plan A : Short if market does not breach above 26289. Targets are 26244 and 26189.
Plan B : Cut above 26335.
Plan C : Continue to long if market stays firm above 26239. Targets are 26285 and 26340.
Plan D : Cut below 26195.
Plan D : Cut below 26195.
E-Mini S&P 500
Overnight stateside, the Dow surged 527.24 points to close at 26,29.89 while the S&P 500 gained 1.4% to end its trading day at 3,122.87. The Nasdaq Composite advanced 0.8% to 9,682.91. Wednesday’s gains led the Dow to a three-day winning streak while the S&P 500 notched its first four-day winning streak since early February.
The moves on Wall Street came as a Wednesday report from ADP showed private payrolls stateside falling by 2.76 million in May — much less than the 8.75 million expected from economists surveyed by Dow Jones.
“The notion that the worst of the Covid-19 economic slump may well be behind us gained credence over the past 24 hours with encouraging data releases from China, Europe and the US,” Rodrigo Catril, a currency strategist at National Australia Bank, wrote in a morning note.
Stocks rose on Tuesday and Wednesday despite concerns about the global Covid-19 pandemic, brewing U.S.-China trade tensions and protests sparked in part by the death of George Floyd in Minneapolis.
Thursday’s forthcoming update to the U.S. unemployment claims threatened to keep the week’s optimism in check.
The Department of Labor is scheduled to release the latest update to initial jobless claims at 8:30 a.m. ET Thursday morning. Though economists polled by Dow Jones expect the government to announce yet another deceleration in the pace of claims, the consensus estimate predicts another 1.8 million Americans filed for insurance during the week ended May 30.
Overnight stateside, the Dow surged 527.24 points to close at 26,29.89 while the S&P 500 gained 1.4% to end its trading day at 3,122.87. The Nasdaq Composite advanced 0.8% to 9,682.91. Wednesday’s gains led the Dow to a three-day winning streak while the S&P 500 notched its first four-day winning streak since early February.
The moves on Wall Street came as a Wednesday report from ADP showed private payrolls stateside falling by 2.76 million in May — much less than the 8.75 million expected from economists surveyed by Dow Jones.
“The notion that the worst of the Covid-19 economic slump may well be behind us gained credence over the past 24 hours with encouraging data releases from China, Europe and the US,” Rodrigo Catril, a currency strategist at National Australia Bank, wrote in a morning note.
Stocks rose on Tuesday and Wednesday despite concerns about the global Covid-19 pandemic, brewing U.S.-China trade tensions and protests sparked in part by the death of George Floyd in Minneapolis.
Thursday’s forthcoming update to the U.S. unemployment claims threatened to keep the week’s optimism in check.
The Department of Labor is scheduled to release the latest update to initial jobless claims at 8:30 a.m. ET Thursday morning. Though economists polled by Dow Jones expect the government to announce yet another deceleration in the pace of claims, the consensus estimate predicts another 1.8 million Americans filed for insurance during the week ended May 30.
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Plan A : Short is market failed to support above 3107.25. Targets are 3080.25, 3058.50 and 3035.75.
Plan B : Long if market retraced but supported firm above 3087.25. Targets are 3110.50, 3129.75 and 3153.25.
Plan C : Short if market failed to rebound and stay below 3087.25. Targets are 3061.25, 3039.25 and 3010.75.
Plan A : Short is market failed to support above 3107.25. Targets are 3080.25, 3058.50 and 3035.75.
Plan B : Long if market retraced but supported firm above 3087.25. Targets are 3110.50, 3129.75 and 3153.25.
Plan C : Short if market failed to rebound and stay below 3087.25. Targets are 3061.25, 3039.25 and 3010.75.
Plan B : Long if market retraced but supported firm above 3087.25. Targets are 3110.50, 3129.75 and 3153.25.
Plan C : Short if market failed to rebound and stay below 3087.25. Targets are 3061.25, 3039.25 and 3010.75.
E-Mini Nasdaq
As of Wednesday afternoon, the Nasdaq Composite was about 1.4% from its February all-time high at 9,817.18. On top of that, a bullish ‘golden cross’ has formed in the index, where the 50-day moving average rises above the longer-term 200-day line, with this relatively rare event marking the point where a shorter-term rebound morphs into a longer-term uptrend, according to chart watchers.
The Nasdaq 100 Index, which tracks the 100-largest non-financial companies in the Nasdaq Composite, rose 0.5% to close 0.3% below a record set on Feb. 19. The index has rallied more than 43% from an intraday low set on March 23.
The Nasdaq had marked the fastest entry to a bear market, defined as a decline of at least 20% from a recent peak, on record, spanning 16 trading sessions, according to Dow Jones Market Data. Now, the Nasdaq in its 73rd day from its previous high, is on pace for its second-fastest recovery after entering a bear market since March 2009.
To be sure, gains in technology have been concentrated in a handful of names, including so-called FAANG names, like Facebook, Amazon.com Inc. , Apple Inc., Netflix and Google parent Alphabet, which have been seen as more resilient, and even benefiting from, to stay-at-home orders that had been in place to curb the deadly contagion.
The rise in those large-capitalization stocks have helped push the market higher.
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To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for June subscription.
Plan A : Short if market failed to support above 9662.25. Targets are 9620.50, 9588.25 and 9552.50.
Plan B : Long if market retraced but supported firm above 9615.25. Targets are 9643.25, 9677.75 and 9705.25.
Plan C : Short if market failed to rebound and stay below 9615.25. Targets are 9585.25, 9550.25 and 9520.25.
Plan C : Short if market failed to rebound and stay below 9615.25. Targets are 9585.25, 9550.25 and 9520.25.
HSI
Hong Kong stocks tracked gains in other markets to end at a near three-week high on Wednesday, as hopes of more stimulus measures and further easing in coronavirus-led curbs around the world offset caution over U.S.-China tensions.
At the close of trade, the Hang Seng index was up 329.68 points, or 1.37%, at 24,325.62, its highest since May 21.
HSI
Hong Kong stocks tracked gains in other markets to end at a near three-week high on Wednesday, as hopes of more stimulus measures and further easing in coronavirus-led curbs around the world offset caution over U.S.-China tensions.
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Plan A : Attempt short if market fails to surge above 24488. Targets are 24405 and 24315. Cut above 24565.
Plan B : Continue to hold long if market holds firm above 24488. Targets are 24565 and 24645. Cut below 24403.
WTI Crude
Oil moved between gains and losses in a volatile trading session, as demand continues to improve, but as doubts emerged about the timing and scale of a potential extension to the pact between OPEC and its allies to cut crude supplies.
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Plan A : Remain buy as long as oil price stays above 36.1
Plan B : Exit below 25.8
Plan C : Consider selling if oil price falls below 36.2
Plan D : Cut above 37.1
Gold
Gold fell more than 2% on Wednesday as risk sentiment improved on hopes of a recovery from a coronavirus-driven economic slump, with investors largely overlooking civil unrest in the United States and its friction with China.
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Plan A : Remain sell as long as gold price stays below 1709
Plan B : Cut above 1713.2
Plan C : Consider buying only if gold price able to hold firm above 1690 and rebound
Plan D : Cut below 1686
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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