Monday, August 3, 2020

4 August 2020 Foreign

FUTURESCOIN IS GOING GLOBAL


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

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E-Mini Dow


The DJIA rose 0.89% to end at 26664.4 points with the U.S. corporate earnings season now past its half-way mark, a record number of companies have beaten dramatically lowered estimates, but the second quarter is still set to be the low point for earnings this year.

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Plan A : Attempt short if market does not breach above 26605. Targets are 26528 and 26338.
Plan B : Cut above 26660.
Plan C : Attempt long if market holds firm above 26338. Targets are 26456 and 26500.
Plan D : Cut below 26250.



E-Mini S&P 500

The Dow climbed 236.08 points, or 0.89%, to close at 26,664.40. The S&P 500 gained 0.72% to end the day at 3,294.61. The Nasdaq Composite advanced 1.47% to 10,902.80, hitting an all-time high. The major averages started the new month on a high note as tech shares outperformed.

Those gains came after Microsoft and Apple powered the S&P 500 tech sector to an all-time high, rising 5.6% and 2.5%, respectively. Tech has been by far the best-performing sector this year, rising more than 23% in that time period.

Eli Lilly announced the start of a phase 3 trial of LY-CoV555, an experimental coronavirus antibody treatment that may prevent the virus from spreading among U.S. nursing home staffers and residents. The stock gained 1.70%. Stocks got a boost from better-than-expected manufacturing data. The Institute for Supply Management’s manufacturing PMI rose to 54.2 in July, topping a Dow Jones estimate of 53.8.

Investors will keep an eye on Washington as lawmakers try to make progress on a new coronavirus stimulus package. Disney, Beyond Meat and Nikola are among the companies set to report.

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Plan A : Short if market failed to support above 3268.25. Targets are 3238.25, 3215.25 and 3195.25.
Plan B : Long if market retraced slightly but supported firm above 3268.25. Targets are 3293.25, 3312.75 and 3340.25.



E-Mini Nasdaq

U.S. stock futures traded near the flatline early Tuesday morning after the major averages logged in sharp gains to start the new month on Monday.

The Dow closed Monday’s session up more than 200 points, or 0.9%. The S&P 500 rallied to its highest level since Feb. 21 and the Nasdaq closed at a record high. The S&P 500 also ended the session less than 3% below the intraday record set on Feb. 19.

Microsoft gained more than 5.62% after confirming reports about being in talks to buy social video app TikTok in the U.S. The talks come even as President Donald Trump threatens to ban TikTok because of security concerns over its parent company’s ties to China. Apple was a major gains contributor as well, climbing 2.5%.

To be sure, investors continue to monitor negotiations over a new stimulus package as lawmakers struggle to make progress. House Speaker Nancy Pelosi said she, Senate Minority Leader Chuck Schumer and White House chief of staff Mark Meadows held “productive” discussions on Monday, but added there are several issues still outstanding.

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Plan A : Short if market failed to support above 10963.25. Targets are 10920.25, 10881.50 and 10830.25.
Plan B : Long if market retraced slightly but supported above 10963.25. Targets are 10995.25, 11020.75 and 11060.75.



HSI

Hong Kong shares closed down on Monday on weak global sentiment, with U.S. lawmakers struggling to agree to a new stimulus plan, and after a bigger-than-expected drop in profit at HSBC pulled the bank's shares sharply lower.

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Plan A : Attempt short if market does not breach above 24592. Targets are 24460 and 24335. Cut above 24690.

Plan B : Attempt long if market rebounds from 24370. Targets are 24525 and 24660. Cut below 24300.


WTI Crude

Oil prices rose nearly 2% on Monday on positive economic data from Europe, Asia and the United States, but investors remained concerned about rising COVID-19 cases globally and oversupply as OPEC begins to lift supply cuts.

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Plan A : Attempt sell if oil price trades below 40.7
Plan B : Cut above 41.4
Plan C : Consider buying if oil price retrace but holds firm above 39.9
Plan D : Cut below 39.6



Gold

Gold prices retreated from a record high on Monday after the dollar strengthened and investors booked some profits, with the focus now on proposals for new U.S. coronavirus aid to extend relief benefits to jobless Americans.

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Plan A : Remain buy as long as gold price stays firm above 1967
Plan B : Exit below 1958
Plan C : Consider selling if gold price surges but fails to breach above 1997
Plan D : Cut above 2002

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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