Tuesday, November 17, 2020

18 November 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. stocks retreated from record closing highs on Tuesday, ending lower as surging COVID-19 cases, the growing threat of a fresh round of economic lockdowns and weak retail sales data dampened the euphoria caused by potential vaccine breakthroughs.

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Plan A : Remain buy as long as market supported firmly above 29611. Targets are 29899 and 30000.

Plan B : Consider sell if market consistently trades below 29899. Targets are 29789 and 29611.



E-Mini S&P 500

U.S. stocks fell on Tuesday as the market’s recent rally cooled off amid a sharp decline in drug store shares and disappointing economic data.

The Dow dropped 167.09 points, or 0.6%, to close at 29,783.35. The S&P 500 dipped 0.5% to 3,609.53, while the Nasdaq Composite fell 0.2% to 11,899.34.

Sentiment also took a hit after data showed retail sales increased less than expected in October. Retail sales rose 0.3% last month, versus a 0.5% gain expected by economists polled by Dow Jones.

The recent outperformance in value stocks comes even as the number of coronavirus cases continues to increase, dampening the country’s near-term economic outlook.

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Plan A : Long if market doesn't retrace much and supported firm above 3593. Targets are 3605, 3625 and 3641.

Plan B : Short if market failed to support above 3593. Targets are 3568, 3540 and 3512.



E-Mini Nasdaq

U.S. stock futures were flat in overnight trading on Tuesday as investors digested the recent record rally in equities.

The Nasdaq Composite was the relative outperformer, dipping just 0.2%.

Stocks are having a strong month on the back of positive news from two U.S. drugmakers about successful Covid-19 vaccines. The Dow is up more than 12% and the S&P 500 is up more than 10% in November. The Nasdaq Composite is up more than 9%, lagging as investors ditch technology shares of cyclical plays.

A slew of retailers report quarterly earnings on Wednesday, with Target
, Lowe's and TJX Companies set to report before the opening bell. Chipmaker Nvidia, Copa Holdings and L Brands report earnings following Wednesday’s session.

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Plan A : Long if market doesn't retrace much and supported firm above 11955. Targets are 11989, 12021 and 12043.

Plan B : Short if market failed to support above 11955. Targets are 11918, 11874 and 11831.



HSI

Hong Kong stocks ended marginally higher on Tuesday, with gains by shares of energy firms on positive developments around a second possible coronavirus vaccine offsetting losses by tech players due to fears of an escalation in Sino-U.S. tensions.

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Plan A : Remain buy as long as market stays firm above 26238    . Targets are 26437 and 26509.


Plan B : Consider sell only if market fails to stay firm above 26238. Targets are 26072 and 25920.


WTI Crude

Oil prices were little changed on Tuesday as worries that lockdowns to fight a new surge in coronavirus cases could hit short-term demand counteracted hopes for a vaccine and the possibility of tighter OPEC+ supply policies.

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Plan A : Remain buy as long as oil price trades firmly above 40.9. Targets are 41.5 and 42.2

Plan B : Consider sell if oil price consistently trading below 41.5. Targets are 40.9 and 40.2



Gold

Gold steadied in a narrow range on Tuesday, as a weaker dollar and concerns about mounting coronavirus cases and its impact on the economy were countered by optimism about the race to deliver a vaccine.

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

Plan A : Consider sell if gold price fails to hold firm above 1885. Targets are 1876 and 1854.

Plan B : Consider buy only if gold price trades firmly above 1885. Targets are 1896 and 1910.



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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