12 June 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 futures extended declines on Thursday, a day after the Federal Reserve’s economic forecast confirmed that the pain from the coronavirus outbreak will be felt for years, with investors also nervous about a second wave of infections.

The Dow ended lower on Wednesday as Fed Chair Jerome Powell acknowledged it could take years for the millions of people laid off due to COVID-19, to get back to work.

The U.S. central bank reiterated its pledge to provide years of extraordinary support to the economy battered by the pandemic.

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Plan A : Continue to short if market rebounds but fails to surge above 27320. Targets are 27275 and 27230.

Plan B : Cut above 27365.

Plan C :Long if market rebounds from 25075. Targets are 25120 and 25175.

Plan D : Cut below 25030.

E-Mini S&P 500

Stocks suffered their biggest one-day pull-back in three months on Thursday as traders grew concerned about the number of coronavirus cases increasing in some states that are reopening up from lockdowns. Shares that have surged recently on hopes for a smooth reopening of the economy led the declines.

The Dow Jones Industrial Average plunged 1,861.82 points, or 6.9%, to close at 25,128.17. The S&P 500 slid 5.9% to 3,002.10 while the Nasdaq Composite dropped 5.3%. to end the day at 9,492.73. The major averages posted their worst day since March 16, when they all dropped more than 11%. The S&P 500 also logged in its first three-day losing streak since early March.

Despite Thursday’s sell-off, the S&P 500 and Dow remained more than 37% above the intraday lows reached on March 23. Most of those gains have been driven by stocks that would benefit from the economy reopening, including airlines, cruise lines and retailers.

American, Delta and United ended Thursday’s session down more than 20% each for the week while Southwest has lost 14%. Banks such as JPMorgan Chase, Citigroup, Wells Fargo and Bank of America — which have surged amid expectations of improving economic activity — are all down over 12% for the week.

Consumer sentiment data along with the latest U.S. import and export numbers are scheduled for release Friday morning.

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Plan A : Long if market supported firm above 3071.25. Targets are 3098.25, 3115.50 and 3140.75.
Plan B : Short if market failed to support above 3071.25. Targets are 3044.25, 3021.25 and 3001.50.

E-Mini Nasdaq

U.S. stock futures were higher early Friday morning after growing worries of a re-surgence in coronavirus cases sent equity prices plunging.

Dow Jones Industrial Average futures traded 355 points higher, implying a Friday opening jump of around 395 points. S&P 500 and Nasdaq-100 futures also pointed to a positive Friday start for the two indexes.

The Dow, S&P 500 and Nasdaq on Thursday all recorded their biggest one-day losses since mid-March, posting losses of at least 5.3%. Thursday’s declines put the major averages on pace for their biggest weekly losses since March 20, when they all dropped at least 12%.

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Plan A : Long if market supported firm above 9716.25. Targets are 9748.25, 9779.25 and 9815.75.
Plan B : Short if market failed to support above 9716.25. Targets are 9686.25, 9648.25 and 9618.25.

HSI

Hong Kong stocks fell the most in nearly three weeks on Thursday, as Asian markets track Wall Street lower after a downbeat economic outlook from the U.S. Federal Reserve rekindled growth concerns.

The Hang Seng index fell 2.3%, to 24,480.15 points.

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Plan A : Attempt short if market rebounds but does not surge above 23940. Targets are 23865 and 23780. Cut above 24015.

Plan B : Attempt to long if market tested and rebounds from 23717. Targets are 23795 and 23880. Cut below 23642.

WTI Crude

Oil prices dropped more than 8% on Thursday amid a broader market sell-off as fears over a second wave of coronavirus cases led to investors shedding assets.

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Plan A : Attempt sell if oil price trades below 35.3

Plan B : Cut above 35.9

Plan C : Consider buying only if oil price able to hold firm above 34.5 and rebound

Plan D : Cut below 33.9

Gold

Gold eased on Thursday as the dollar firmed but fears over a fresh wave of coronavirus infections and the U.S. Federal Reserve's pledge to keep interest rates low kept bullion close to its highest in over a week.

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Plan A : Remain buy as long as gold price stays above 1709

Plan B : Exit below 1704

Plan C : Consider selling only if gold price fails to breach above 1731

Plan D : Cut above 1738

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.