Tuesday, December 15, 2020

16 December 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 showed signs of a Santa rally on Tuesday, with the Nasdaq closing at a record high, helped by optimism about a potential government stimulus to protect the economy from the coronavirus pandemic.

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Plan A : Remain buy as long as market stays firm above 29899. Targets are 30145 and 30255.

Plan B : Consider sell if market surges but fails to breach above 30255. Targets are 30145 and 29899.



E-Mini S&P 500

Stocks rose sharply on Tuesday as traders grew more optimistic about Congress passing another economic relief package.

The S&P 500 advanced 1.3%, or 47.13 points, to 3,694.62, snapping a four-day losing streak. All 11 S&P 500 sectors registered gains on Tuesday, led by energy and utilities.

The new plan calls for $748 billion in spending for programs that are popular on both sides of the aisle, including small business loans, unemployment insurance, vaccine distribution, education and rental assistance. A second $160 billion bill would include the more contentious areas of business liability protections and financial aid to state and local governments.

The latest step toward a stimulus deal comes as investors and Americans at large grapple with a bleak near-term outlook but prospects of economic growth and a possible end of the pandemic in 2021.

The S&P 500 has gained more than 14% for the year despite the ongoing pandemic, leading some to believe that near-term upside could be limited.

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Plan A : Long if market doesn't retrace much and supported firm above 3671. Targets are 3688, 3702 and 3721. 

Plan B : Short if market failed to support above 3671. Targets are 3645, 3619 and 3591.



E-Mini Nasdaq

U.S. stock futures were flat in early morning trading on Wednesday as investors clung to the possibility of new fiscal stimulus before the end of the year.

Market participants are also looking to the Federal Reserve’s comments on Wednesday about the future of the U.S. economy.

The Nasdaq Composite climbed 1.3%, or 155.02 points, to 12,595.06, reaching a new record closing high.

Investors cheered developments in Washington regarding a stimulus package to helping ailing Americans from the economic ramifications of the Covid-19 pandemic.

The Federal Reserve will release its statement with projections on the stance of monetary policy on Wednesday afternoon. While the Fed’s long term view is expected to be improved due to the vaccine, the central bank is expected to sound very dovish at the end of its meeting.

The bond market could have a volatile reaction depending on what the Fed signals about its bond buying program.

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Plan A : Short if market failed to support above 12604. Targets are 12566, 12522 and 12480. 

Plan B : Long if market doesn't retrace much and supported firm above 12604. Targets are 12631, 12662 and 12689.
 



HSI

Hong Kong stocks closed lower on Tuesday, weighed down by IT firms after China warned its internet giants to brace for increased scrutiny, though upbeat data helped limit losses.

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Plan A : Remain sell as long as market stays below 26392. Target are 26238 and 26100.

Plan B : Attempt buy if market holds resiliently above 26238 and rebound. Targets are 26392 and 26508.



WTI Crude

Oil rose on Tuesday on optimism from the roll-out of coronavirus vaccines balanced out tighter lockdowns in Europe and forecasts of a slower demand recovery.

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Plan A : Remain buy as long as oil price trades firmly above 46.8. Targets are 47.4 and 48.2  

Plan B : Consider sell only if oil price surges but fails to breach above 47.4. Targets are 46.8 and 46.2



Gold

Gold gained more than 1% on Tuesday, bolstered by expectations of more coronavirus relief aid in the United States as mounting COVID-19 cases renewed concerns over the pandemic's economic toll.

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Plan A : Attempt sell if gold price stays below 1854. Targets are 1837 and 1828.

Plan B : Consider buy only if gold price trades firmly above 1854. Targets are 1859 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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