17 October 2019 Foreign

FUTURESCOIN IS GOING GLOBAL

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

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E-Mini Dow

Stocks fell slightly on Wednesday as weak retail sales data, coupled with persisting trade-war fears, offset strong earnings results.

The Dow dipped 22.82 points, or 0.08% to close at 27,001.98.

Retail sales unexpectedly dropped 0.3% in September, marking their first decline in seven months. Spending cutbacks on motor vehicles and online purchases, among other factors, weighed down retail sales.

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Plan A : Buy if market retraced but supported firm above 26947. Targets are 26997, 27030 and 27112.
Plan B : Sell if market failed to support above 27036. Targets are 26986, 26951 and 26912.

E-Mini S&P 500

The Dow, S&P 500 and Nasdaq all slipped no more than 0.30% on the trading day. The action coincided with a Federal Reserve report that said many businesses have reduced their growth forecasts as the U.S.-China trade war drags on.

The S&P 500 ended down 0.2%, or -5.99 points at 2989.69.

Earnings season continues on Thursday with Morgan Stanley, Honeywell and Taiwan Semiconductor among the companies set to report. On the data front, housing starts data for September will take center stage.

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Plan A : Buy if market retraced but supported firm above 2964.25. Targets are 2979.50, 2990.25 and 3000.75. 
Plan B : Sell if market failed to support above 2996.50. Targets are 2981.50, 2969.25 and 2959.50.

E-Mini Nasdaq

The major indexes were little changed for most of the session as weak consumer data offset the impact of strong earnings.

The Nasdaq Composite dipped 0.3%, or -24.52 points to 8,124.18.

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Plan A : Sell if market failed to support above 7972.25. Targets are 7932.50, 7900.50 and 7872.50.
Plan B : Buy if market retraced but supported firm above 7857.50. Targets are 7897.25, 7929.50 and 7955.25.

WTI Crude

Oil prices fell on Thursday after industry data showed a larger-than-expected build-up in the U.S. inventories, but losses were limited after China said it hoped to reach a phased trade agreement with the United States as early as possible.

Global benchmark Brent Crude Oil was down by 39 cents at $59.03 a barrel by 0837 GMT. U.S. WTI Crude Oil was down 43 cents at $52.93. 

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Plan A : Buy if market supported firm above 52.96. Targets are 53.26, 53.50 and 53.72.

Plan B : Sell if market rebounded but resisted around 53.61. Targets are 53.30, 53.08 and 52.90. 

Gold

Gold rose on Wednesday on concerns that Washington’s stance on Hong Kong could hamper trade negotiations between the United States and China and as investors awaited a key Brexit summit, but bullion’s gains were dwarfed by deficit-hit palladium as it smashed new records.

Spot gold rose 0.5% to $1,487.73 per ounce. U.S. gold futures were up 0.6% to $1,491.60.

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Plan A : Buy only if market supported firm above 1493.90. Targets are 1496.40, 1500.10 and 1503.50.
Plan B : Sell if market rebounded and resisted around 1501.90. Targets are 1498.50, 1495.20 and 1491.50.

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 and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, 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.