Tuesday, December 22, 2020

23 December 2020 Foreign

          FUTURESCOIN IS GOING                       GLOBAL


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

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E-Mini Dow


The S&P 500 and Dow lost ground on Tuesday as concerns over a new variant of the coronavirus and disappointing economic data stole the thunder from Washington's passage of a long-awaited pandemic relief bill.

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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 remain trading below 30255. Targets are 30065 and 29899.



E-Mini S&P 500

The S&P 500 fell for a third straight session on Tuesday even after Congress approved a long-delayed coronavirus relief package.

The broad equity benchmark dipped 0.2%, or 7.66 points, to 3,687.26 in relatively thin trading.  

Equity investors could be taking chips off the table after registering solid gains in 2020. With less than two weeks left, the S&P 500 is up more than 14% for the year. 

On the data front, a final reading showed third-quarter gross domestic product grew 33.4% on an annualized basis, compared to 33.1% expected. Meanwhile, U.S. consumer confidence fell for the second straight month in December and missed expectations.

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Plan A : Long if market doesn't retrace much and supported firm above 3664. Targets are 3679, 3695 and 3712.

Plan B : Short if market failed to support above 3664. Targets are 3638, 3613 and 3585.


E-Mini Nasdaq

U.S. stock futures fell in overnight trading on Tuesday after President Donald Trump expressed concerns about the new Covid-19 relief package which could delay the deployment of funds to struggling Americans.

The Nasdaq Composite eked out a 0.5% gain to close at 12,807.92, a new record. The tech-heavy index was supported by a 2.9% jump in Apple shares amid investor enthusiasm around its reported foray into self-driving vehicles.

The Nasdaq Composite has soared 42.7% this year as traders stuck with their tech darlings during the pandemic.

The Nasdaq Composite was the outperformer on Tuesday, closing up 0.5% at a new record as Amazon, Apple and Microsoft all closed higher. Stationary bike company Peloton popped 11%.

Last week’s jobless claims numbers come out on Wednesday at 8:30 a.m. ET. Economists polled by Dow Jones are expected 888,000 Americans filed for unemployment last week, more than the previous week’s 885,000.

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Plan A : Long if market doesn't retrace much and supported firm above 12642. Targets are 12672, 12705 and 12738.

Plan B : Short if market failed to support above 12642. Targets are  12600, 12558 and 12519.



HSI

Hong Kong stocks fell on Tuesday, tracking losses in its regional peers, as investors fear a highly infections new coronavirus strain detected hit Britain could hurt global economic recovery.

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Plan A : Remain sell as long as market stays below 26238. Targets are 26080 and 25932.

Plan B : Consider buy only if market tests and rebounds from 25932. Targets are 26080 and 26228.



WTI Crude

Oil dropped towards $50 a barrel on Tuesday, adding to losses from the previous session, as a mutant variant of the coronavirus in Britain revived concerns over demand recovery.

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Plan A : Remain sell as long as oil price stays below 47.4. Targets are 46.8 and 46.2.

Plan B : Consider long only if oil price tests and rebounds from 46.2. Targets are 46.8 and 47.4.



Gold

Gold prices fell on Tuesday as the dollar benefited from safe-haven buying driven by fears over a new coronavirus variant in the United Kingdom.

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Plan A : Attempt buy if gold price trades firmly above 1854. Targets are 1869 and 1885.

Plan B : Consider sell only if market surges but fails to breach above 1869. Targets are 1864 and 1854.



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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