10 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 plunged 5% on Monday to hit a daily trading limit, as global recession fears were amplified by a 25% slump in oil prices and the relentless march of the coronavirus across the United States and Europe.

The Dow Jones Industrials index was set to fall more than 1,300 points at the open as crude oil logged its worst day in almost three decades after a price war between Saudi Arabia and Russia. Oil majors Chevron Corp and Exxon Mobil Corp tumbled about 15%. All 30 components of the blue-chip Dow were in the red.

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Plan A : Continue to hold short as long as market does not breach above 24325. Targets are 24290, 24250 and 24205.

Plan B : Cut above 24360.

Plan C : Attempt to long only if market rebounds from 24085. Targets are 24120, 24160 and 24205.

Plan D : Cut below 24050.

E-Mini S&P 500

The Dow Jones Industrial Average sank more than 2,000 points on Monday, its worst day since 2008, as fears about the spread of the new coronavirus and an oil price war sent investors scrambling out of stocks.

The Dow dropped 2,023.04 points — 7.82% — as Boeing, Apple, Goldman Sachs and Caterpillar cut the index by at least 100 points each. The Dow ended the day at 23,841.74 and represented its single-worst day since Oct. 15, 2008, when it fell 7.82%.

The S&P 500 plunged 7.6% to 2,746.56 as investors punished financials and energy stocks. Energy names in the S&P 500, including Exxon Mobil, Hess and Marathon Oil, finished the day down more than 20%. Financial stocks ended down more than 10%. The equity benchmark suffered its worst day since Dec. 1 2008.

The Nasdaq Composite fell 7.29% to end the day at 7,950.68. 

The massive sell-off triggered a key market circuit breaker minutes after the opening bell. Trading was halted for 15 minutes until reopening at 9:49 a.m. ET. The sharp declines on Monday followed a roller-coaster week that saw the S&P 500 swing up or down more than 2.5% for four days straight.

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Plan A : Long only if market supported firm above 2855.50. Targets are 2871.25, 2880.50 and 2891.25.
Plan B : Short if market failed to support above 2855.50. Targets are 2839.25, 2828.50 and 2817.25.

E-Mini Nasdaq

Stock futures rose early Tuesday morning after the S&P 500′s worst day since the financial crisis.

As of 3:50 a.m. ET Tuesday, futures on the Dow gained 641 points, indicating an opening jump 689 points on Tuesday. S&P 500 futures and Nasdaq-100 futures also pointed to a higher open for the two indexes on Tuesday.

Stock futures erased big losses and turned positive after President Donald Trump floated the idea of “a payroll tax cut or relief" to offset the negative impact from the coronavirus. The potential tax incentives come on top of an $8.3 billion spending package Trump signed last month.

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Plan A : Long if market retraced but supported firm above 8214.25. Targets are 8243.25, 8265.50 and 8284.75.
Plan B : Short if market rebounded but resisted around 8411.25. Targets are 8371.25, 8345.25 and 8318.75.

HSI

Hong Kong stocks tumbled on Monday, posting their steepest daily fall in more than two years, as fears over the economic impact of the global coronavirus epidemic were exacerbated by a crash in oil prices that battered financial markets around the world.

The Hang Seng index fell 4.2%, to 25,040.46, marked one of the biggest daily fall since Feb, 2018.

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Plan A : Long only if market declines but still supported above 23855. Targets are 23930 and 24015. Cut below 23780.
Plan B : Short if market recovers but does not breach above 24015. Targets are 23940 and 23855. Cut above 24090.

WTI Crude

Oil prices plunged to multi-year lows on Monday as tensions between Russia and Saudi Arabia escalate, sparking fears on the Street that an all-out price war is imminent.

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Plan A : Attempt buy if oil price stays firm above 30.1

Plan B : Cut below 29.7

Plan C : Consider selling if oil price recovers but fails to hold above 32.1

Plan D : Cut above 32.9

Gold

Gold retreated from the $1,700 level touched briefly earlier on Monday, as investors sold the bullion to cover margin calls amid plummeting equities and energy markets, overshadowing the metal's safe-haven demand. 

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Plan A : Attempt sell if gold price fails to hold firm above 1667.8

Plan B : Cut above 1673

Plan C : Consider buying if gold price trades resiliently above 1667.8

Plan D : Cut below 1662.4

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.