Thursday, July 9, 2020

10 July 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 edged higher on Thursday after data pointed to a declining trend in weekly jobless claims, with investors also weighing the risk of another business shutdown as U.S. COVID-19 cases soared.

The Labor Department’s most timely data on the economy showed 1.31 million Americans filed for state unemployment benefits in the latest week, down from 1.43 million claims in the prior week. It also fared better than economists’ estimates of 1.38 million claims. 

However, the labor market remains fragile as the United States reported more than 60,000 new COVID-19 infections on Wednesday, setting a single day global record.

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Plan A : Continue to hold short if market stays below 25777. Targets are 25735 and 25685.
Plan B : Cut above 25810.
Plan C : Attempt to long if market rebounds from 25625. Targets are 25670 and 25715.
Plan D : Cut below 25580.




E-Mini S&P 500

The Dow dropped 361.19 points, or 1.39%, to 25,706.09. The S&P 500 slid 0.56% to 3,152.05. The Nasdaq Composite rose 0.53% to close at 10,547.75. 

Stocks hit their lows of the day after Florida reported a record in coronavirus-related hospitalizations. The state also reported a record spike in Covid deaths. “There’s less reason for optimism now than there was in April,” said one economist. “We’re still looking at a vaccine some time early next year, but it’s become clear that it’ll be very difficult to open without causing a renewed surge” in coronavirus cases.

Walgreens led the Dow lower, dropping 7.76% on the back of disappointing earnings. Tech shares such as Microsoft and Amazon rose 0.70% and 3.29%, respectively, each to offset some of those losses.

The U.S. producers purchasing index is set for release Friday.

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Plan A : Long if market supported firm above 3139.50. Targets are 3164.50, 3182.75 and 3205.25.
Plan B : Short is market failed to support above 3139.50. Targets are 3114.50, 3090.25 and 3069.50



E-Mini Nasdaq

Stock futures fell in pre-market trading Friday following a mixed session in which coronavirus concerns pushed investors further into tech shares.

Dow Jones Industrial Average futures implied an opening decline of nearly 200 points. ET. S&P 500 and Nasdaq-100 futures also traded lower. 

The Nasdaq Composite closed at an all-time high during regular trading as Amazon jumped 3% to a record. Microsoft, Apple and Netflix were also higher.
But the rest of the market struggled. The Dow dropped more than 300 points, erasing its week-to-date gains. The S&P 500 dipped 0.6%.

This divergence between tech and the rest of the market came as coronavirus-related hospitalizations hit a record in Florida. In California, the state’s daily average increase of coronavirus cases rose to a record, as well.

The Dow will limp into Friday’s session with a 0.5% loss for the week. The S&P 500 pared some of its weekly gains, but is still up 0.7% in that time period. The Nasdaq, meanwhile, was on pace for its third weekly gain in four weeks.

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for July subscription.


Plan A :

HSI


Hong Kong’s benchmark share index ended higher on Thursday, as an officially endorsed bull run in mainland China markets extended into an eighth day, lifting stocks across the region.

At the close of trade, the Hang Seng index was up 80.98 points or 0.31% at 26,210.16. 

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for July subscription.

Plan A : Attempt short if market falls below 25815. Targets are 25740 and 25655. Cut above 25890.

Plan B : Attempt long if market stays firm above 25814. Targets are 25889 and 25975. Cut below 25735.



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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