23 June 2020 Foreign

FUTURESCOIN IS GOING GLOBAL

WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

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E-Mini Dow

Wall Street's three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries.

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Plan A : Short if market fails to break above 26320. Targets are 26110 and 25945.

Plan B : Cut above 26463.

Plan C :Long if market tested and rebounds from 25745. Targets are 25946 and 26110.

Plan D : Cut below 25685.

E-Mini S&P 500

Stocks rose on Monday, building on solid gains from last week, as shares of major tech companies led the way higher on Wall Street. 

The Dow gained 153.50 points, or 0.6%, to close at 26,024.96. The Nasdaq Composite posted a record closing high, advancing 1.1% to 10,056.47. The S&P 500 ended the session up 0.7% at 3,117.86. The major averages briefly pared some of their gains towards the end of the session, after Texas Gov. Greg Abbott told reporters the coronavirus is spreading at an unacceptable rate.

Apple shares jumped more than 2% and hit a record high after the company made a slew of announcement at its annual WorldWide Developers Conference. The tech giant unveiled the latest version of iOS, its mobile operating system. Apple also said its new mac computers will no longer use Intel chips.

Microsoft climbed more than 2% to lead the Dow higher. Amazon advanced 1.5%. Netflix gained 2.6%. Facebook eked out a small gain.

Shares of American Airlines — which are also linked to the recovery — were lower by 6.8% after the company said it was seeking new financing. United fell 0.8%. Re-opening trades such as casino and hotel stocks were also under pressure with Wynn Resorts and MGM Resorts down 4% and 2.4%, respectively.

The S&P 500 has ripped more than 42% higher since hitting an intraday low on March 23. For the quarter, the broader market index is up by nearly 20%.

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Plan A : Long if market doesn't retrace much and supported firm above 3111.50. Targets are 3135.75, 3156.75 and 3181.25.

Plan B : Short if market failed to support above 3111.50. Targets are 3080.25, 3059.25 and 3042.75.

E-Mini Nasdaq

Stock futures recovered earlier losses after White House trade advisor Peter Navarro clarified that the U.S.-China trade deal is not over.

The Nasdaq Composite was the outperformer, rising more than 1%, thank to helps from mega-cap technology companies. The close marks a record close of the technology heavy index, its 20th of the year. Shares of Apple ticked up 2.6% and shares of Microsoft rose nearly 3%.

White House economic advisor Larry Kudlow told CNBC on Monday “there is no second wave coming and that lawmakers will likely develop another stimulus package by the end of next month.

New home sales data from May will be released on Tuesday morning. 

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Plan A : Long if market retraced but supported firm above 10078.25. Targets are 10108.50, 10135.25 and 10168.25.

Plan B : Short if market failed to support above 10078.25. Targets are 10042.25, 10009.75 and 9978.25.

HSI

Hong Kong stocks ended lower on Monday as investors were wary after details of a new security law for the territory showed Beijing will have overarching powers on its enforcement.

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Plan A : Attempt short if market falls below 24451. Targets are 24375 and 24290. Cut above 24525.

Plan B : Attempt to long if market trades firmly above 24488. Targets are 24680 and 24740. Cut below 24420.

WTI Crude

Oil rose more than 1% on Monday on tighter supplies from major producers and as coronavirus lockdowns continued to ease, but gains were capped by worries that a worldwide rise in new infections might stall a fuel demand recovery.

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Plan A : Remain buy as long as oil price stays above 40.4

Plan B : Exit below 39.2

Plan C : Consider selling if oil price fails to breach and holds firm above 41.2

Plan D : Cut above 41.8

Gold

Gold prices climbed 1% on Monday to hit the highest in more than a month, as investors took refuge in the safe-haven metal after an uptick in coronavirus cases roiled hopes for a quick economic recovery.

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Plan A : Remain buy as long as gold price stays firm above 1730

Plan B : Exit below 1727

Plan C : Consider selling only if gold price surges but fails to breach above 1769.9

Plan D : Cut above 1779

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.