FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street stocks advanced, with the Nasdaq closing at a record high, on Friday in a holiday-shortened week as retailers kicked off the year-end shopping season amid record COVID-19 hospitalizations.
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Plan A : Attempt buy if market retraces but holds firmly above 29611. Targets are 29899 and 30000.
Plan B : Consider sell if market trades below 29899. Targets are 29709 and 29611.
E-Mini S&P 500
Stock rose on Friday as traders wrapped up a strong week amid decreasing political uncertainty and positive vaccine news.
The S&P 500 gained 0.3% to end the day at 3,638.35, notching a record closing high. The Nasdaq Composite advanced 0.9% to 12,205.85 and also closed at an all-time high. The Dow closed higher by 37.90 points, or 0.1%, at 29,910.37. Friday’s session ended at 1 p.m. ET.
Retailers led the early gains as investors bet on a strong holiday shopping season. The SPDR S&P Retail ETF (XRT) rose 0.9% and hit an all-time high. Etsy shares popped 10.7%, and Gamestop advanced 9%. Amazon shares gained 0.3%, and Shopify climbed 1.5% after Adobe Analytics said Thanksgiving Day online sales rose to a record $5.1 billion.
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Plan A : Short if market failed to support above 3600. Targets are 3572, 3549 and 3527.
Plan B : Long if market retraced but supported firm above 3600. Targets are 3617, 3631 and 3648.
E-Mini Nasdaq
Stock futures dipped in overnight trading on Sunday as the market looks set to finish November with historically strong gains.
Futures took a leg down after Reuters reported that the Trump administration is weighing blacklisting Chinese leading chipmaker SMIC as well as national offshore oil and gas producer CNOOC. The move would limit their access to American investors and escalate tensions with China before President-elect Joe Biden takes over.
Despite the overnight weakness, major equity averages are poised to wrap up a strong month. The blue-chip Dow has risen 12.9% so far this month, on pace for its best monthly performance since January 1987, as promising vaccine developments boosted confidence of a smooth economic reopening. The S&P 500 and the Nasdaq have climbed 11.3% and 11.9%, respectively, in November, both on track to post their biggest monthly advance since April.
Still, investors continue to monitor the coronavirus pandemic which has killed more than 266,000 people in the U.S. Dr. Anthony Fauci, the nation’s top infectious disease expert, said on Sunday that the U.S. is heading into a tough period of the pandemic in which restrictions and travel advisories will be necessary.
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Plan A : Short if market failed to support above 12141. Targets are 12100, 12059 and 12022.
Plan B : Long if market supported firm above 12141. Targets are 12168, 12203 and 12241.
HSI
Hong Kong stocks ended at a nine-month high on Friday, gaining for the fourth week in a row, tracking mainland strength as upbeat profits from industrial firms pointed to a continued recovery in China's economy.
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Plan A : Remain buy as long as market stays firm above 26727. Targets are 26799 and 26946.
Plan B : Consider sell only if market surges but fails to breach and stay firm above 26946. Targets are 26805 and 26727.
WTI Crude
Oil prices were mixed on Friday but remained on course for a fourth straight week of gains ahead of an OPEC+ meeting early next week.
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Plan A : Remain buy as long as oil price trades firmly above 44.2. Targets are 45.4 and 46.2
Plan B : Consider sell if oil price fails to hold above 45.4. Targets are 44.8 and 44.2
Gold
Gold slumped 2%, breaking below the key $1,800 support level to a near five-month trough on Friday, as growing optimism about a quick vaccine-fuelled economic recovery and a smooth White House transition powered share market to fresh records.
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Plan A : Remain sell as long as gold price stays below 1803.6. Targets are 1771 and 1753.3.
Plan B : Consider buy only if gold price test and holds resiliently above 1753.3. Targets are 1787 and 1803.
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, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, 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.
