FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
E-Mini Dow
U.S. stock index futures ticked higher on Tuesday as China’s move to waive off tariffs on some U.S imports added to hopes that the easing of virus-led business shutdowns would help jump-start a battered global economy.
China announced a new list of 79 U.S. products including ores of rare earth metals, gold ores and silver ores for waivers from retaliatory tariffs, amid continued pressure on Beijing to boost imports from the United States.
With bets rising of negative interest rates in the United States, investors will pay close attention to Federal Reserve Chairman Jerome Powell for his outlook on the economy at a webcast event on Wednesday.
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Plan A : Continue to short if market falls below 23590. Targets are 23545, 23490 and 23435.
Plan B : Cut above 23635.
Plan C : Long if market tested and rebounds from 23415. Targets are 23460 and 23505.
Plan D : Cut below 23370.
Plan D : Cut below 23370.
E-Mini S&P 500
The Dow fell 457.21 points, or 1.89%, to 23,764.78. The S&P 500 dipped 2.05% to close at 2,870.12 The Nasdaq Composite slid 2.06% to 9,002.55. Wall Street fell as investors weighed the latest efforts to reopen the economy.
Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, and other health officials testified before the Senate Health Committee to discuss reopening the economy. Fauci noted a vaccine will be essential in stopping the coronavirus spread, but warned it will be a while before a usable one is available.
Apple shares posted a seven-day winning streak, rising 1.14% on the day. The S&P 500 real estate sector fell 4.15%, led by a 7% decline in SL Green Realty.
Weekly mortgage applications are scheduled for release Wednesday. Federal Reserve Chairman Jerome Powell is also set to speak.
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Plan A : Long if market doesn't retrace much and supported firm above 2859.25. Targets are 2884.50, 2907.75 and 2925.25.
Plan B : Short if market failed to support above 2859.25. Targets are 2834.25, 2810.25 and 2791.75.
Plan C : Long if market retraced but supported firm above 2829.25. Targets are 2856.75, 2880.25 and 2897.75.
Plan B : Short if market failed to support above 2859.25. Targets are 2834.25, 2810.25 and 2791.75.
Plan C : Long if market retraced but supported firm above 2829.25. Targets are 2856.75, 2880.25 and 2897.75.
E-Mini Nasdaq
U.S. stock futures were little changed in overnight trading and pointed to losses at the open on Wednesday, after a sharp sell-off in the previous session.
Dow futures was up just 12 points, but implied a Wednesday opening loss of about 117 points. Futures for the S&P 500 and Nasdaq also pointed to Wednesday opening losses for the two indexes.
The Nasdaq Composite snapped its six-session winning streak on Tuesday, as investors cooled off from buying technology stocks. The average lost 2.06%; however, it just barely held its positive year-to-date gain of 0.3%. Apple and Microsoft lost 1.1% and 2.3%, respectively. Netflix fell 2% and Amazon dropped 2.2%.
Traders will be looking for clarity on future Federal Reserve actions when Fed Chairman Jerome Powell speaks on current economic issues on Wednesday at 9:00 a.m. ET.
Powell’s “comments tomorrow are going to be scrutinized by the market to see how he plans thwart the issue of negative interest rates,” said Krosby.
The Labor Department will release its producer price index for the month of April at 8:30 a.m. on Wednesday. Analysts polled by Dow Jones are expecting a drop of 0.5% in April, following March’s decline of 0.2%. Producer prices have dropped during the pandemic, pulled down by declines in the costs of goods such as gasoline and services.
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Plan A : Long if market supported firm above 9082.50. Targets are 9118.25, 9143.25, 9172.75.
Plan B : Short if market failed to support above 9082.50. Targets are 9050.25, 9018.75 and 8989.75.
U.S. stock futures were little changed in overnight trading and pointed to losses at the open on Wednesday, after a sharp sell-off in the previous session.
Dow futures was up just 12 points, but implied a Wednesday opening loss of about 117 points. Futures for the S&P 500 and Nasdaq also pointed to Wednesday opening losses for the two indexes.
The Nasdaq Composite snapped its six-session winning streak on Tuesday, as investors cooled off from buying technology stocks. The average lost 2.06%; however, it just barely held its positive year-to-date gain of 0.3%. Apple and Microsoft lost 1.1% and 2.3%, respectively. Netflix fell 2% and Amazon dropped 2.2%.
Traders will be looking for clarity on future Federal Reserve actions when Fed Chairman Jerome Powell speaks on current economic issues on Wednesday at 9:00 a.m. ET.
Powell’s “comments tomorrow are going to be scrutinized by the market to see how he plans thwart the issue of negative interest rates,” said Krosby.
The Labor Department will release its producer price index for the month of April at 8:30 a.m. on Wednesday. Analysts polled by Dow Jones are expecting a drop of 0.5% in April, following March’s decline of 0.2%. Producer prices have dropped during the pandemic, pulled down by declines in the costs of goods such as gasoline and services.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for May subscription.
Plan A : Long if market supported firm above 9082.50. Targets are 9118.25, 9143.25, 9172.75.
Plan B : Short if market failed to support above 9082.50. Targets are 9050.25, 9018.75 and 8989.75.
Plan B : Short if market failed to support above 9082.50. Targets are 9050.25, 9018.75 and 8989.75.
HSI
Hong Kong shares ended lower on Tuesday due to growing worries about a second wave of COVID-19 infections, after the Chinese city of Wuhan, where the pandemic originated, reported more new cases since its lockdown was lifted.
At the close of trade, the Hang Seng index was down 356.38, or 1.45%, at 24,245.68.
HSI
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Plan A : Attempt to short if market breaks below 24046. Targets are 23960 and 23865. Cut above 24125.
Plan B : Long if market tested and rebounds from 23888. Targets are 23975 and 24065. Cut below 23805.
WTI Crude
Oil futures rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June to help drain the glut in the global market that has grown as the coronavirus pandemic crushed fuel demand.
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Plan A : Attempt buy as long as oil price stays firm above 25.0
Plan B : Cut below 24.6
Plan C : Consider selling if oil price fails to breach and holds firm above 25.5
Plan D : Cut above 26.2
Gold
Gold rose on Tuesday on expectations of more stimulus from the U.S. Federal Reserve to support an economy battered by coronavirus-induced restrictions, while an easing dollar lent further support.
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Plan A : Attempt sell if gold price trades below 1709
Plan B : Cut above 1716.7
Plan C : Consider buying if gold price trades resiliently above 1709
Plan D : Cut below 1703.9
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.
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