17 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 index futures jumped on Tuesday on hopes that aggressive fiscal and monetary stimulus would kick start an economy crushed by the COVID-19 pandemic, with expectations of a record rebound in May retail sales also driving sentiment.

A Commerce Department report is likely to show U.S. retail sales experienced a record rise in May. However, any rebound will retrace only a fraction of the historic drops in March and April amid the coronavirus lockdowns.

Futures got a boost following a report that the Trump administration was preparing a nearly $1 trillion infrastructure proposal to spur the economy. It comes a day after the Federal Reserve announced details of a program to financially aid companies hit by the pandemic.

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Plan A : Short if market falls below 26258. Targets are 26215 and 26165

Plan B : Cut above 26303.

Plan C :Long if market tested and rebounds from 25801. Targets are 25845 and 25905.

Plan D : Cut below 25755.

E-Mini S&P 500

U.S. equities rallied on Tuesday, helped by a bevy of bullish news, including a historic jump in retail sales. The U.S. government reported a record 17.7% increase in retail sales for May.

The Dow Jones Industrial Average climbed 526 points, or 2.04%. The S&P 500 and Nasdaq Composite rallied 1.9% and 1.75%, respectively. Stocks tied the economy re-opening — including airlines, cruise lines and retailers — led the rally.

Stocks were also helped by a Bloomberg News report that the Trump administration is preparing a near $1 trillion infrastructure bill. Positive trial results showed dexamethasone — a widely available drug — can help critically ill coronavirus patients, which also boosted equities. The treatment reportedly reduced Covid-19 deaths in hospitalized patients by up to one third.

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Plan A : Long if market supported firm above 3132.25. Targets are 3155.25, 3176.50 and 3198.75.
Plan B : Short if market failed to support above 3132.25. Targets are 3100.25, 3089.25 and 3062.75.

E-Mini Nasdaq

U.S. stock futures were lower in overnight trading, following a big rally in the previous session fueled by growing belief that the worst may be over for the world’s largest economy.

Markets and bond yields fell from their highs following Federal Reserve Chair Jerome Powell’s comments that the central bank would arrange its corporate bond buying based on market conditions and it doesn’t want to "run through the bond market like an elephant.". Powell will have his second day of testimony on Wednesday. 

Stocks also pared gains amid reports saying Beijing will shut down all schools amid a resurgence in coronavirus cases. Investors, for now, are largely shrugging off the uptick in coronavirus cases at home and abroad against the backdrop of better-than-expected economic data. 

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Plan A : Long if market retraced slightly but supported firm above 9952.25. Targets are 9981.25, 10015.25 and 10051.50.
Plan B : Short if market failed to support above 9952.25. Targets are 9920.25, 9889.75 and 9852.75.

HSI

Hong Kong shares rose to their highest in more than two weeks on Tuesday, tracking gains from the global markets after the U.S. Federal Reserve widened its bond buying program.

At the close of trade, the Hang Seng index was up 567.14 points, or 2.39%, at 24,344.09. 

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Plan A : Attempt short if market rebounds but does not breach above 24845. Targets are 24770 and 24685. Cut above 24930.

Plan B : Attempt to long if market rebounds from 24450. Targets are 24525 and 24610. Cut below 24375.

WTI Crude

Oil prices rose on Tuesday, with Brent crude rising above $40 a barrel, as the IEA increased its oil demand forecast for 2020 and as record supply cuts supported.

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Plan A : Remain buy as long as oil price stays above 37.6

Plan B : Exit below 37.0

Plan C : Consider selling if oil price falls below 37.6

Plan D : Cut above 38.2

Gold

Gold edged up in seesaw trade on Tuesday as concerns over a fresh coronavirus outbreak in China countered pressure from a surge in Wall Street driven by a record rise in U.S. retail sales and optimism over a COVID-19 drug.

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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.