Tuesday, July 14, 2020

15 July 2020 Foreign

FUTURESCOIN IS GOING GLOBAL


WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

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E-Mini Dow


Wall Street surged on Tuesday, with the DJIA ending more than 2% higher as investors bought energy and material stocks and looked beyond a recent rise in coronavirus cases.

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Plan A : Short if market surges but fails to breach above 27010. Targets are 26810 and 26635.
Plan B : Cut above 27110.
Plan C : Attempt to long if market trades firmly above 26500. Targets are 26630 and 26810.
Plan D : Cut below 26420.



E-Mini S&P 500

After spending time in negative territory during Tuesday’s session, stocks rose to their highest levels of the day in the final minutes of trading, before pulling back slightly at the closing bell. The Dow closed 557 points higher for a gain of 2.14%, while the S&P 500 and Nasdaq Composite rose 1.34% and 0.94%, respectively. Tech names clawed back earlier losses and Facebook, Alphabet, Microsoft and Apple all closed in the green. Industrial names also showed signs of strength, with Caterpillar jumping 5% to lead the Dow higher. 


Investors will monitor another batch of corporate earnings results on Tuesday with Goldman Sachs, UnitedHealth, Bank of NY Mellon, U.S. Bancorp and PNC Financial all set to report before the bell.

Earnings from big banks so far have been mixed. JPMorgan Chase reported better-than-expected quarter results on the back of a massive surge in trading revenue. Wells Fargo suffered a $2.4 billion loss and cut its dividend to 10 cents per share.

Meanwhile, tensions between the U.S. and China continue to rise. President Donald Trump said Tuesday that he signed legislation to impose sanctions on China in response to its interference with Hong Kong’s autonomy.

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Plan A : Short if market failed to support above 3185.25. Targets are 3160.25, 3138.75 and 3114.25.
Plan B : Long if market retraced but supported firm above 3145.25. Targets are 3169.50, 3188.75 and 3209.75. 



E-Mini Nasdaq

Stocks finished Tuesday’s volatile session on a high note with the Dow jumping more than 500 points to post its best day in two weeks. The S&P 500 jumped 1.3%, boosted by cyclical names sensitive to the economic recovery. The tech-heavy Nasdaq under-performed for a second day, rising 0.9% as the massive rally in Big Tech slowed down.

Stocks that are closely tied to the economy led the way on Wall Street.  Caterpillar was the best-performing Dow stock, rising 4.83%. Chevron and Exxon Mobil advanced more than 3% each. Boeing rose 2.45%. Tech shares, meanwhile, lagged. Microsoft rose 0.62%. Amazon dropped at least 0.64% each. Netflix slid 0.12%.


Stock futures climbed higher in overnight trading on Tuesday after Moderna said its coronavirus vaccine produced antibodies in all patients in an early trial, raising hope for a faster economic recovery.

Futures on the Dow Jones Industrial Average jumped 265 points, pointing to a roughly 240-point gain at Wednesday’s open. S&P 500 futures and the Nasdaq 100 futures also pointed to a positive Wednesday start for the two indexes.

Biotech Moderna’s potential vaccine to prevent Covid-19 produced a "robust" immune response, or neutralizing antibodies, in all 45 patients in its early stage human trial, according to newly released data published Tuesday evening in the peer-reviewed New England Journal of Medicine.

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Plan A : Long if market supported firm above 10708.25. Targets are 10738.50, 10762.50 and 10800.75.
Plan B : Short if market failed to support above 10708.25. Targets are 10670.25, 10625.75 and 10560.25.



HSI

Hong Kong shares ended lower on Tuesday, as renewed U.S.-China tensions and fresh coronavirus restrictions in the city and overseas due to a rising number of cases dented hopes of a swift global economic recovery.

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Plan A : Attempt short if market does not breach above 25805. Targets are 25730 and 25645. Cut above 25880.

Plan B : Attempt long if market rebounds firmly from 25805. Targets are 25880 and 25965. Cut below 25730.





WTI Crude

Oil prices rose slightly on Tuesday as OPEC and its allies cut production by more than agreed to in June, although demand concerns lingered due to increased cases of COVID-19 in the United States.

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Plan A : Attempt buy as long as oil price stays firm above 39.9
Plan B : Cut below 39.0
Plan C : Consider selling if oil price surges but fails to breach above 40.7
Plan D : Cut above 41.1




Gold

Gold prices firmed above the key $1,800 level on Tuesday, underpinned by concerns over mounting coronavirus cases globally as many regions reintroduced curbs to restrict the outbreak.

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Plan A : Attempt sell if gold price breaks below 1807.6
Plan B : Cut above 1817
Plan C : Consider buying if gold price resiliently above 1807.6
Plan D : Cut below 1801





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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