29 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 major indexes tumbled more than 2% on Friday as several U.S. states imposed business restrictions in response to a surge in coronavirus cases.

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Plan A : Short if market does not breach above 25184. Targets are 24930 and 24750.

Plan B : Cut above 25250.

Plan C :Long if market tested and rebounds from 24590. Targets are 24740 and 24870.

Plan D : Cut below 24490.

E-Mini S&P 500

The Dow slid 730.05 points, or 2.84%, to close at 25,015.55. The S&P 500 dropped 2.42% to 3,009.05. The Nasdaq Composite closed 2.59% lower at 9,757.22. A recent surge in coronavirus cases sent stocks tumbling as investors worry this resurgence could further damage the economy.

Texas Gov. Greg Abbott said Friday the state will roll back some of its re-opening measures as coronavirus cases and hospitalizations continue to rise. “At this time, it is clear that the rise in cases is largely driven by certain types of activities, including Texans congregating in bars,” Abbott said in a release. Florida announced it would suspend “on premises consumption” of alcohol at bars in the state after reporting a surge of nearly 9,000 new virus cases. At a nationwide level, the daily average number of confirmed coronavirus cases is now more than 33,000.

Bank shares were under pressure after the Federal Reserve released its annual stress test results. Goldman Sachs dropped 8.65% and JPMorgan Chase fell 5.48%. Wells Fargo closed 7.42% lower. Shares of United and American Airlines — which stand to benefit from the economy reopening — closed lower by 5.19% and 6.00%, respectively.

Pending home sales numbers are set for release Monday at 10 a.m.

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Plan A : Long if market supported firm above 3022.25. Targets are 3045.25, 3066.50 and 3090.25
Plan B : Short if market failed to support above 3022.25. Targets are 2995.50, 2976.75 and 2957.25.

E-Mini Nasdaq

U.S. stock futures hovered around the flatline following an earlier decline as coronavirus cases continue surging in the U.S., stoking concerns about the economic re-opening and recovery.

As of early morning trade on Monday, Dow Jones Industrial Average futures traded 27 points lower. S&P 500 futures and Nasdaq-100 futures also stood little changed. Earlier in the session, Dow futures had traded more than 100 points lower.

Data compiled by Johns Hopkins University showed more than 2.5 million cases have been confirmed across the U.S. On Friday alone, there were 45,255 additional cases were reported, bringing the country’s seven-day average to more than 41% from the prior week.

The major averages posted their second weekly declines in three weeks. The Dow dropped 3.3% last week while the S&P 500 lost 2.9%. The Nasdaq Composite fell 1.9% last week. On Friday, the Dow dropped more than 700 points while the S&P 500 and Nasdaq each fell over 2.4%.

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Plan A : Short if market failed to support above 9838.50. Targets are 9805.25, 9777.50 and 9742.50.
Plan B : Long if market supported firm above 9838.50. Targets are 9865.25, 9899.50 and 9931.25.

HSI

Hong Kong shares ended lower on Friday, after U.S. lawmakers moved closer to sanctioning people and companies they consider China's accomplices in the curbing the city's autonomy, while new coronavirus outbreak globally also soured the sentiment.

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Plan A : Attempt short if market fails to breach above 24738. Targets are 24480 and 24395. Cut above 24810.

Plan B : Attempt to long if market trades firmly above 24424. Targets are 24510 and 24690. Cut below 24375.

WTI Crude

Oil prices dipped on Friday, erasing earlier gains, as new coronavirus cases spiked in the United States and China, and on growing concerns about rising U.S. output ticking up while crude stockpiles sat at record highs.

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Plan A : Attempt sell if oil price stays below 37.9

Plan B : Cut above 38.6

Plan C : Consider buying if oil price trades firmly above 37.0

Plan D : Cut below 36.3

Gold

Gold erased earlier losses on Friday as the relentless coronavirus spread globally with a record jump in COVID-19 infections in the United States marring risk appetite and setting the metal on track for its third straight weekly rise.

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Plan A : Attempt buy if gold price trades firmly above 1769.9

Plan B : Cut below 1764

Plan C : Consider selling if gold price falls below 1769.9

Plan D : Cut above 1777.5

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.