06 November 2019 Foreign

FUTURESCOIN IS GOING GLOBAL

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

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E-Mini Dow

Wall Street futures rose on Tuesday, a day after all three major U.S. stock indexes closed at record highs on rising hopes of a trade deal between Washington and Beijing.

China is pushing President Donald Trump to remove more tariffs as part of the deal, which may be signed this month, according to the latest reports.

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Plan A : Continue to hold long as long as market stays above 27470. Targets are 27505, 27540 and 27585.

Plan B : Cut below 27435.

Plan C : Attempt to sell if market fails to hold above 27469. Targets are 27435, 27405 and 27360.

Plan D : Cut above 27505.

E-Mini S&P 500

The markets have started the month with a powerful, largely cyclical, rally. What’s missing is a significant breakout: Only 10% of the S&P are at new highs, despite a historic high for that index. Part of the reason is a big move-up in the largest stocks. Six of the seven biggest stocks in the S&P 500 are outperforming the index this month, including Apple, Alphabet and Amazon.

That may be about to change.

The S&P 500 fell 0.12% to 3,074.62 however, as under-performance in real estate and utilities sectors capped gains in the broad market. The financial sector was the best-performing group among 11 S&P 500 sectors as yields continued to rise on trade-deal hopes. Bank of America was up 1.3%, while J.P. Morgan rose 0.2%.

The S&P 500 is up more than 20% this year, and if history is any gauge, this is bullish for stocks through year-end. A run of this magnitude also bodes well for 2020.

When the S&P 500 is up 20% or more through October, as it is now, the average return through the rest of the year is more than 6%, according to Canaccord Genuity, which tracked market returns back to the 1950s. This has happened seven times in that period. The median return was 5.92% and all seven times led to gains the rest of the year.

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Plan A : Short if market failed to support above 3063.50. Targets are 3048.50, 3035.25 and 3026.75.
Plan B : Long if market retraced but supported firm above 3030.50. Targets are 3045.25, 3053.75 and 3064.25.  

E-Mini Nasdaq

U.S. stock futures were pointing to a higher open on Wall Street on Tuesday on optimism about U.S.-China talks surrounding their “phase one” trade deal.

The Nasdaq Composite Index was little changed at 8,434.68 or +0.02% weighed down by a 1.6% loss in Netflix shares. 

Stocks in Asia were mixed on Wednesday as investors monitored developments on U.S.-China trade. Mainland Chinese stocks declined on the day, with the Shanghai Composite down 0.43% to about 2,978.60. The Shenzhen Composite slipped 0.868% to approximately 1,641.23 while the Shenzhen component shed 0.78% to 9,860. Hang Seng Index was slightly lower, as of its final hour of trading.

Elsewhere, the Nikkei 225 in Japan closed 0.22% higher at 23,303.82, with shares of index heavyweight and robot maker Fanuc advancing 1.17%. The Topix index finished its trading day largely unchanged at 1,694.45.

Meanwhile, South Korea’s Kospi closed slightly higher at 2,144.15 while the S&P/ASX 200 in Australia declined 0.55% to end its trading day at 6,660.20.

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Plan A : Short if market failed to support above 8192.50. Targets are 8152.50, 8125.25 and 8095.50.
Plan B : Long if market retraced but supported firm above 8096.50. Targets are 8136.25, 8162.50 and 8190.50.

HSI

Hong Kong stocks rose for a fourth straight session on Tuesday, helped by hopes of more stimulus to arrest cooling growth on the mainland and the island city and signs of progress in Sino-U.S. trade talks.

The Hang Seng index rose 0.5%, to 27,683.40.

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Plan A : Above 28090, do nothing
Plan B : Below 27411, do nothing
Plan C : Attempt to long if market declines but does not fall below 27497
Plan D : Cut below 27411
Plan E : Consider to short if market does not breach above 27694
Plan F : Cut above 27780

GOLD

Gold prices rebounded on Wednesday after falling 2% in the previous session as markets embraced risk following the latest trade news.

U.S. Gold Futures inched up 0.2% to $1,486.95 by 12:30 AM ET (04:30 GMT).

Multiple media reported this week that the U.S. and China are close to signing a partial trade deal after the U.S. administration is reportedly prepared to annul the September increase in tariffs on Chinese imports, which affected over $100 billion worth of annual imports.

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Plan A : Long only if market supported firm above 1491.10. Targets are 1497.50 and 1503.70.
Plan B : Short if market failed to support above 1491.10. Targets are 1485.20 and 1479.50.

WTI CRUDE OIL

Oil prices fell on Wednesday, pulled down by a larger-than-expected build-up in U.S. crude stocks, after gaining for three straight sessions on expectations of an easing of in U.S.-China trade tensions.

Brent crude futures were at $62.60 a barrel by 0330 GMT, down 36 cents, or 0.6%. Brent settled up 1.3% on Tuesday.

U.S. West Texas Intermediate (WTI) crude futures fell 29 cents, or 0.5%, to $56.94 per barrel, having closed up 1.2% in the previous session.

U.S. crude inventories rose by 4.3 million barrels in the week ended Nov. 1 to 440.5 million barrels, according to data from the American Petroleum Institute (API) released on Tuesday. That was nearly triple analysts' forecast for an increase of 1.5 million barrels.

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Plan A : Short if market failed to support above 57.18. Targets are 56.90, 56.75 and 56.51.
Plan B : Long if market doesn't retrace much and supported firm above 57.18. Targets are 57.30, 57.54 and 57.70.
Plan C : Long if market retraced but supported firm above 56.23. Targets are 56.40, 56.65 and 56.78.

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.