02 March 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. stock index futures dropped on Friday as a surge in corona-virus cases, as The Dow plunged more than 10% from its record close a week ago.

Even as the outbreak eases in China, investors have been rattled by the rapid spread of the disease in other countries, which now account for about three-quarters of new infections.

As the world prepares for a likely pandemic, an inversion of the U.S. Treasury yield curve deepened further, sounding recession alarms. All three main stock indexes are set to record their sharpest weekly drop since the global financial crisis in 2008.

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Plan A : Continue to hold short as long as market stays below 25265. Targets are 25235, 25195 and 25150. 
Plan B : Cut above 25305.
Plan C : Long only if market rebounds from 25165. Targets are 25195, 25235 and 25280.
Plan D : Cut below 25130.

E-Mini S&P 500

It’s too soon to rush back into stocks after the market suffered its worst week since the financial crisis amid coronavirus concerns, strategists at major U.S. banks warned.

The Dow, S&P 500 and Nasdaq Composite all fell more than 10% last week, their biggest weekly declines since October 2008. The Dow also had its largest one-day point decline on record last week. Those losses sent the major averages into a correction, down more than 10% from all-time highs set earlier in February.

The sharp move down was sparked by a growing number of coronavirus cases outside of China, fueling concerns over sharp downturn in global economic activity. The decline’s swift nature also prompted some calls for a capitulation rebound. However, strategists at JPMorgan, Citi and Goldman Sachs think there hasn’t been enough pain in the market yet for such a bounce to occur.

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Plan A : Long if market doesn't retrace much but supported firm above 2964.25. Targets are 2980.50, 2991.25 and 3000.25.
Plan B : Short if market failed to support above 2964.25. Targets are 2948.25, 2937.75 and 2926.50.
Plan C : Short if market rebounded but resisted around 3034.25. Targets are 3019.25, 3008.50 and 2995.25.

E-Mini Nasdaq

Stock futures recovered from an earlier tumble on Sunday night as investors shrugged off concerns around the coronavirus outbreak.

As of 1:15 a.m. ET Monday, Dow futures were up 183 points, pointing to an opening gain of 144.64 points for the index at Monday’s open. S&P 500 and Nasdaq 100 futures also pointed to gains at the open for the two indexes on Monday.

Dow futures briefly fell more than 500 points earlier before recovering to point to opening gains of more than 200 points.

The Dow, S&P 500 and Nasdaq Composite all fell more than 10% last week, their biggest weekly declines since October 2008. They also entered correction territory, down more than 10% from all-time highs notched earlier in February.

Those declines came after a sharp increase in coronavirus cases outside of China. The number of cases continued to increase over the weekend, including in the U.S.

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Plan A : Short if market rebounded but failed to support above 8671.25. Targets are 8630.25, 8600.25 and 8572.25.
Plan B : Long if market retraced but supported firm above 8527.25. Targets are 8558.50, 8579.25 and 8598.50.
Plan C : Short if market failed to support above 8527.25. Targets are 8499.25, 8479.25 and 8455.75.
Plan D : Long if market supported firm above 8671.25. Targets are 8700.25, 8719.25 and 8739.25. 

HSI

Hong Kong stocks fell on Friday, posting their worst week in a month, as the rapid spread of the corona-virus across the world sparked fears of contagion and sent global markets reeling. 

At the close of trade, the Hang Seng index was down 2.4% at 26,129.93. The index is down 4.3% week-on-week and 0.7% from the previous month.

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Plan A : Continue to hold short if market stays below 25908. Targets are 25833 and 25748. Cut above 25985.

Plan B : Long only if market tested 25615 and rebounds. Targets are 25690 and 25775. Cut below 25540.

WTI Crude

U.S. oil prices experienced their steepest weekly fall since 2008 as the spread of the coronavirus stoke fears of slowing global demand.

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Plan A : Remain sell as long as oil price stays below 45.6

Plan B : Exit above 45.9

Plan C : Consider buying only if oil price able to trade firmly above 44.6

Plan D : Cut below 43.9

Gold

Gold slid 3% as coronavirus drove panic-stricken investors to liquidate assets across the board.

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Plan A : Attempt buy only if gold price trades firmly above 1591

Plan B : Cut below 1585

Plan C : Consider selling if gold price recovers but fails to hold firm above 1591

Plan D : Cut above 1599

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.