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
Futures tracking the Dow index edged lower on Thursday as caution over an uptick in COVID-19 infections in parts of the United States and China weighed on the mood ahead of a weekly jobless claims report.
A resurgence in coronavirus cases has upended bets of a swift post-pandemic economic recovery, with the Dow snapping a three-day winning streak on Wednesday.
Several U.S. states including Texas, Florida and Oklahoma have reported a surge in new infections, however, Trump said late on Wednesday that the United States would not close businesses again.
After recent data showed a record rise in U.S. retail sales and a surprise addition in jobs in May, investors will now look to the Labor Department’s weekly jobless claims report, the most timely indicator of economic health.
The number of Americans filing for state unemployment benefits is likely to fall for the eleventh straight week, but still remain elevated following mass furloughs and layoffs during the nationwide lockdowns.
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Plan A : Short if market stays below 26050. Targets are 26005 and 25950.
Plan B : Cut above 26095.
Plan C :Long if market rebounds from 26050. Targets are 26095 and 26150.
Plan D : Cut below 26000.
Plan D : Cut below 26000.
E-Mini S&P 500
The Dow slid 39.51 points, or 0.2%, to 26,080.10. The S&P 500 was flat to close at 3,115.34. The Nasdaq Composite rose 0.3% 9,943.05. Disappointing unemployment data and rising coronavirus cases dampened Wall Street sentiment on Thursday.
The Labor Department said Thursday that an additional 1.5 million Americans filed for unemployment benefits last week. Economists polled by Dow Jones had forecast an increase of 1.3 million. Meanwhile, California reported its largest-ever daily increase of coronavirus cases. States such as Arizona and Texas have also seen increases in coronavirus cases recently.
Retailers such as Kohl's and Nordstrom declined, closing the session down about 1% each. Microsoft added 1% to help lift the Nasdaq.
Wall Street will try to close out Friday with its fourth weekly gain in five while monitoring the latest news on the coronavirus.
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Plan A : Long if market retraced slightly but supported firm above 3089.50. Targets are 3116.25, 3131.25 and 3155.75.
Plan B : Short if market failed to support above 3089.50. Targets are 3064.50, 3042.75 and 3021.25.
E-Mini Nasdaq
U.S. stock futures were higher in early morning trade on Friday following a muted session in which traders grappled with disappointing unemployment data and rising coronavirus cases.
The Dow closed just below the flatline during the cash session, while the S&P 500 and Nasdaq eked out small gains. The major averages gyrated between gains and losses for most of the day. At one point, the Dow had fallen more than 270 points.
Meanwhile, the number of coronavirus cases continues to rise in certain parts of the U.S. Texas, California, Arizona and Florida all reported its biggest-ever one-day increase.
Some investors fear that a resurgence in coronavirus cases could lead to states retaking stricter quarantine measures to curb the spread, thus thwarting expectations of a smooth economic recovery. To be sure, those increases come as states ramp up testing.
The Dow, S&P 500 and Nasdaq Composite headed into Friday’s session on pace for their fourth weekly gain in five weeks. The Dow is up 1.9% week to date through Thursday’s close while the S&P 500 has gained 2.4% in that time. The Nasdaq has climbed more than 3% over that time period.
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Plan A : Long if market retraced but supported firm above 9971.25. Targets are 10,005.25, 10,032.75 and 10,070.25.
Plan B : Short if market failed to support above 9971.25. Targets are 9938.50, 9905.25 and 9870.50.
HSI
Plan A : Long if market retraced but supported firm above 9971.25. Targets are 10,005.25, 10,032.75 and 10,070.25.
Plan B : Short if market failed to support above 9971.25. Targets are 9938.50, 9905.25 and 9870.50.
Plan B : Short if market failed to support above 9971.25. Targets are 9938.50, 9905.25 and 9870.50.
HSI
Hong Kong stocks recovered most of their earlier losses to end basically flat, helped by Beijing’s pledge for more reforms and liquidity to boost the world’s second largest economy.
At the close of trade, the Hang Seng index was down 16.47 points or 0.07% at 24,464.94.
Hong Kong stocks recovered most of their earlier losses to end basically flat, helped by Beijing’s pledge for more reforms and liquidity to boost the world’s second largest economy.
At the close of trade, the Hang Seng index was down 16.47 points or 0.07% at 24,464.94.
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Plan A : Attempt short if market stays below 24444. Targets are 24369 and 24284. Cut above 24515.
Plan B : Attempt to long if market rebounds from 24191. Targets are 24266 and 24350. Cut below 24115.
WTI Crude
Oil prices rose on Thursday as a panel of OPEC and its allies met to review record oil supply cuts, even as the market remained concerned about additional coronavirus cases reported in parts of the United States and China.
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Plan A : Remain buy as long as oil price stays above 38.6
Plan B : Exit below 38.1
Plan C : Consider selling if oil price fails to hold above 38.6
Plan D : Cut above 39.1
Gold
Gold eased on Thursday after data showed lower jobless claims in the United States and on reports Beijing was bringing its latest coronavirus outbreak under control, but mounting infections globally limited losses for the safe-haven metal.
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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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