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 tumbled on Monday as a recent jump in coronavirus cases in China and parts of the United States doused investor hopes of a quick economic rebound that had powered the Nasdaq to record levels last week.
Beijing re-imposed measures to curb the spread of the virus after a wholesale food market saw an unexpected spike of cases. A record number of new infections and hospitalizations were reported in more U.S. states, including Florida and Texas over the weekend.
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Plan A : Short if market rebounds but fails to surge above 25854. Targets are 25805 and 25755.
Plan B : Cut above 25899.
Plan C :Long if market rebounds from 25725. Targets are 25770 and 25825.
Plan D : Cut below 25680.
E-Mini S&P 500
Plan D : Cut below 25680.
E-Mini S&P 500
The Dow closed 157.62 points higher on Monday after the blue-chip index fell more than 760 points earlier in the session. The S&P 500 gained 0.8% to end the day at 3,066.59 while the Nasdaq Composite advanced 1.4% to 9,726.02. The S&P 500 and Nasdaq had fallen as much as 2.5% and 1.9%, respectively, before erasing those losses.
Traders pointed to an announcement from the Federal Reserve during Monday’s session for an abrupt move higher around 1:50 p.m. ET.
The central bank said it would buy individual corporate bonds and signaled a broader approach to corporate bond buying that had remained a matter of speculation until Monday afternoon. The Fed indicated earlier in the spring that it would buy bonds on the primary market, but Monday’s announcement expanded its operations into the secondary market.
All told, the Fed’s mid-June announcement represented yet another step by the Fed to backstop the financial markets and reassure investors that it will continue to support credit markets during the coronavirus.
The central bank’s announcement on Monday came less than one day before investors and politicians hear from Fed Chairman Jerome Powell. The Fed leader is set to speak before Congress on Tuesday and Wednesday in his semi-annual economic testimony with his appearance before the Senate coming first.
Wall Street will also pore over the latest retail sales figures — a key look at consumer spending activity — as well as industrial production and business inventories data on Tuesday.
The Dow closed 157.62 points higher on Monday after the blue-chip index fell more than 760 points earlier in the session. The S&P 500 gained 0.8% to end the day at 3,066.59 while the Nasdaq Composite advanced 1.4% to 9,726.02. The S&P 500 and Nasdaq had fallen as much as 2.5% and 1.9%, respectively, before erasing those losses.
Traders pointed to an announcement from the Federal Reserve during Monday’s session for an abrupt move higher around 1:50 p.m. ET.
The central bank said it would buy individual corporate bonds and signaled a broader approach to corporate bond buying that had remained a matter of speculation until Monday afternoon. The Fed indicated earlier in the spring that it would buy bonds on the primary market, but Monday’s announcement expanded its operations into the secondary market.
All told, the Fed’s mid-June announcement represented yet another step by the Fed to backstop the financial markets and reassure investors that it will continue to support credit markets during the coronavirus.
The central bank’s announcement on Monday came less than one day before investors and politicians hear from Fed Chairman Jerome Powell. The Fed leader is set to speak before Congress on Tuesday and Wednesday in his semi-annual economic testimony with his appearance before the Senate coming first.
Wall Street will also pore over the latest retail sales figures — a key look at consumer spending activity — as well as industrial production and business inventories data on Tuesday.
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Plan A : Long if market doesn't retrace much and supported firm above 3085.25. Targets are 3112.25, 3131.75 and 3150.75.
Plan B : Short if market failed to support above 3085.25. Targets are 3060.75, 3035.25 and 3009.75.
Plan A : Long if market doesn't retrace much and supported firm above 3085.25. Targets are 3112.25, 3131.75 and 3150.75.
Plan B : Short if market failed to support above 3085.25. Targets are 3060.75, 3035.25 and 3009.75.
Plan B : Short if market failed to support above 3085.25. Targets are 3060.75, 3035.25 and 3009.75.
E-Mini Nasdaq
Futures contracts tied to the major U.S. stock indexes rose early Tuesday morning as a Bloomberg report said President Donald Trump’s administration is preparing a $1 trillion infrastructure proposal.
Dow futures rose 308 points, suggesting an open gain of more than 350 points when regular trading resumes on Tuesday. S&P 500 and Nasdaq-100 futures also implied a positive Tuesday start for the two indexes.
Citing people familiar with the plan, Bloomberg reported the Trump administration is drawing up a $1 trillion infrastructure proposal. The report said a preliminary version being prepared would set aside majority of the money for traditional infrastructure such as roads and bridges, though funds would also be reserved for 5G wireless infrastructure and rural broadband.
Earlier in the session, Dow futures had jumped more than 500 points. Some of those gains were pared following reports that North Korea blew up an inter-Korean liaison office in a border town.
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Plan A : Long if market retraced slightly but supported firm above 9868.25. Targets are 9895.25, 9925.25 and 9958.25.
Plan B : Short if market failed to support above 9868.25. Targets are 9835.25, 9801.25 and 9771.25.
Plan B : Short if market failed to support above 9868.25. Targets are 9835.25, 9801.25 and 9771.25.
HSI
Hong Kong stocks dropped on Monday, in line with broader Asia, as growing concerns about a new wave of coronavirus infections prompted a selloff in equities.
At the close of trade, the Hang Seng index was down 524.43 points, or 2.16%, at 23,776.95.
Hong Kong stocks dropped on Monday, in line with broader Asia, as growing concerns about a new wave of coronavirus infections prompted a selloff in equities.
At the close of trade, the Hang Seng index was down 524.43 points, or 2.16%, at 23,776.95.
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Plan A : Attempt short if market rebounds but does not breach above 23941. Targets are 23866 and 23780. Cut above 24015.
Plan B : Attempt to long if market rebounds from 23753. Targets are 23828 and 23915. Cut below 23678.
WTI Crude
Oil prices rose on Monday as signs of fuel demand was recovering while OPEC+ members were complying with a production cut deal outweighed fears that new coronavirus infections could further slow the global economy.
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Plan A : Remain buy as long as oil price stays above 36.7
Plan B : Exit below 35.9
Plan C : Consider selling if oil price surges but fails to breach above 37.4
Plan D : Cut above 37.7
Gold
Gold fell more than 1% on Monday as the dollar hovered near a more than one-week high, but the metal held above $1,700 an ounce, buoyed by fears of a second wave of coronavirus infections.
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Plan A : Remain buy as long as gold price stays above 1730
Plan B : Exit below 1724
Plan C : Consider selling if gold price fails to hold above 1730
Plan D : Cut above 1737
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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