Thursday, November 12, 2020

13 November 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 ended sharply lower on Thursday as U.S. coronavirus infections surged and investors weighed the timeline for the mass rollout of an effective vaccine.

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Plan A : Remain buy as long as market supported firmly above 28967. Targets are 29323 and 29414.

Plan B : Consider sell if market falls below 29323. Targets are 29029 and 28967.



E-Mini S&P 500

Stocks fell on Thursday as an increasing number of U.S. coronavirus cases raised concerns over the health of the economy heading into year-end.

The Dow dropped 317.46 points, or 1.1%, to 29,080.17. The 30-stock average fell as much as 495 points earlier in the session. The S&P 500 slid 1.0%, or 35.65 points, to 3,537.01, while the Nasdaq Composite dropped 0.7%, or 76.84 points, to 11,709.59.

Thursday’s decline left the S&P 500 just 0.8% above its Friday closing level of 3,509.44, giving back most of the gains from the vaccine rally earlier this week.

Travel and bank stocks were among the biggest laggards on Thursday. United Airlines fell more than 4%, while Carnival dropped 7.9%. JPMorgan Chase, Citigroup and Wells Fargo were all down more than 1%.

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Plan A : Long only if market supported firm above 3559. Targets are 3575, 3589 and 3607.

Plan B : Short if market failed to support above 3559. Targets are 3535, 3507 and 3480.



E-Mini Nasdaq

U.S. stock futures were flat early Friday morning as Wall Street continues to grapple with the rising number of coronavirus cases and its potential economic impact.

Sentiment on Thursday soured even further after Federal Reserve Chairman Jerome Powell said the country’s economic outlook remained uncertain. “With the virus spreading, the next few months could be challenging,” he said.

On the data front, initial weekly jobless claims fell last week to 709,000 from 757,000 in the prior week, the Labor Department said Thursday. That market the fourth straight weekly decline for initial claims.

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Plan A : Long if market doesn't retrace much and supported firm above 11817. Targets are 11845, 11880 and 11906.

Plan B : Short if market failed to support above 11817. Targets are 11778, 11739 and 11695.



HSI

Hong Kong stocks ended lower on Thursday, after data showed that new bank loans in China last month fell more than expected to their lowest in a year on tightened loan quotas.

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Plan A : Attempt sell if market trades below 26238. Targets are 26113 and 26070.

Plan B : Consider buy only if market retraces but supported firmly above 26070. Targets are 26238 and 26363.



WTI Crude

Oil prices fell on Thursday, weighed down by the surge in coronavirus cases that is hampering the global economy, along with an unexpected rise in U.S. crude stockpiles.

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Plan A : Remain buy as long as oil price trades firmly above 40.2. Targets are 40.9 and 41.5

Plan B : Consider sell only if oil price consistently trade below 40.9. Targets are 40.2 and 38.9



Gold

Gold rose 1% on Thursday on concern over the logistics of a potential COVID-19 vaccine roll-out as cases continued to surge in the United States, while hopes of more fiscal and monetary stimulus offered support to the safe-haven metal.

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

Plan A : Remain sell as long as gold price stays below 1885. Targets are 1869 and 1854.

Plan B : Consider buy only if gold price trades firmly above 1854. Targets are 1869 and 1885.



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.

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