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 dropped on Tuesday, giving back some gains after the Nasdaq notched a record closing high in the previous session, with focus now on the Federal Reserve’s two-day policy meeting.
While no major policy announcements are expected when the U.S. central bank wraps up its meeting on Wednesday, policymakers will issue economic projections for the first time since December, before a decade-long economic expansion was brought to a grinding halt due to coronavirus-induced lockdowns.
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Plan A : Short only if market stays below 27345. Targets are 27300 and 27255.
Plan B : Cut above 27390.
Plan C :Long if market rebounds from 27356. Targets are 27405 and 27445.
Plan D : Cut below 27311.
Plan D : Cut below 27311.
E-Mini S&P 500
The Dow Jones Industrial Average and S&P 500 were under pressure on Tuesday as stocks benefiting from the economic re-opening fell broadly. The Dow fell 300 points or 1.1%, snapping a 6-day winning streak. The 30-stock average was dragged down by a 5.9% drop in Boeing.
The S&P 500 lost 0.8%, retreating after briefly turning positive for the year in the previous session.
The Federal Open Market Committee started its two-day meeting Tuesday with markets watching for news on several fronts.
The central bank is unlikely to make any major policy changes, with its benchmark rate near zero and the asset purchasing programs continuing. However, investors will be watching for thoughts on possibly implementing yield caps and strengthening forward guidance on how long the Fed will keep current policies in place.
The meeting concludes Wednesday with the release of a policy statement and the quarterly summary of economic projections, then Chairman Jerome Powell’s news conference at 2:30 pm EST.
The Fed will be revealing its first forecast for the economy and interest rates since late last year, as it skipped a forecast in March just as the pandemic forced the abrupt shutdown of the economy.
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Plan A : Long if market supported firm above 3201.50. Targets are 3227.25, 3245.50 and 3264.75.
Plan B : Short if market failed to support above 3201.50. Targets are 3178.50, 3150.25 and 3131.75.
Plan B : Short if market failed to support above 3201.50. Targets are 3178.50, 3150.25 and 3131.75.
E-Mini Nasdaq
The Nasdaq Composite rallied to a record high Tuesday, briefly breaking above 10,000 for the first time, as traders loaded up on major technology names while taking that benefit from the economy re-opening.
The tech-heavy Nasdaq rose 0.29% to finish the day at a record close of 9,953, below its all-time intraday high north of 10,000 it hit earlier in the day. Amazon and Apple gained 3% and 3.1%, respectively, with each notching all-time highs during the session. Facebook traded 3.1% higher and Netflix rose 3.47%. Google-parent Alphabet advanced 0.28%.
U.S. stock futures rose in early morning trading as investors await clarity on the state of the economy and further stimulus from the Federal Reserve’s policy meeting.
Dow futures rose 165 points, implying a gain of about 169 points at the open Wednesday. The S&P 500 and Nasdaq were also set to open slightly higher, with gains of around 19 points and 43 points, respectively.
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Plan A : Long if market retraced slightly but supported firm above 9967.50. Targets are 9990.25, 10017.25 and 10040.50.
Plan B : Short if market failed to support above 9967.50. Targets are 9930.25, 9901.25 and 9872.75.
Plan B : Short if market failed to support above 9967.50. Targets are 9930.25, 9901.25 and 9872.75.
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HSI
Hong Kong shares closed at their highest level in three months on Tuesday, tracking gains in broader markets as the easing of coronavirus-induced lockdowns in many countries fed short-term investor optimism of a quick economic recovery.
At the close of trade, the Hang Seng index was up 280.45 points, or 1.13%, at 25,057.22.
Hong Kong shares closed at their highest level in three months on Tuesday, tracking gains in broader markets as the easing of coronavirus-induced lockdowns in many countries fed short-term investor optimism of a quick economic recovery.
At the close of trade, the Hang Seng index was up 280.45 points, or 1.13%, at 25,057.22.
At the close of trade, the Hang Seng index was up 280.45 points, or 1.13%, at 25,057.22.
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Plan A : Attempt short if market does not breach above 25071. Targets are 24995 and 24901. Cut above 25145.
Plan B : Attempt to long if market tested and rebounds from 24610. Targets are 24685 and 24770. Cut below 24525.
WTI Crude
Oil prices rose on Tuesday, as traders said concerns about a resurgence in coronavirus cases were offset by recent commitments from major oil producers to curb production.
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Plan A ：Remain buy as long as oil price stays firm above 38.0
Plan B : Exit below 37.6
Plan C : Consider selling if oil price fails to hold above 38.0
Plan D : Cut above 38.6
Gold
Gold jumped more than 1% on Tuesday as risk appetite took a back seat with cautious investors awaiting clarity on the state of the economy and further stimulus from the U.S. Federal Reserve's policy meeting.
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Plan A : Attempt buy as long as gold price stays firm above 1709
Plan B : Cut below 1700
Plan C : Consider sell if gold price fails to hold above 1709
Plan D : Cut above 1717
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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