Sunday, August 16, 2020

17 August 2020 Foreign

                                    FUTURESCOIN IS GOING GLOBAL


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

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E-Mini Dow


The DJIA rose 34-points to settle at 27931 as data on the U.S. economy added to uncertainty over the recovery.

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Plan A : Attempt long if market trades firmly above 27824. Targets are 27933 and 28070.
Plan B : Cut below 27710.
Plan C : Attempt short if market fails to hold above 27824. Targets are 27630 and 27590.
Plan D : Cut above 27910.



E-Mini S&P 500


The Dow rose 34.30 points, or 0.1%, to 27,931.02. The S&P 500 was flat at 3,372.85. The Nasdaq Composite fell 0.2% to close at 11,019.30. Stocks waffled around the flatline for most of the session as the S&P 500 failed once again to reach its all-time high.

The S&P 500 climbed 0.6% last week and the Nasdaq Composite advanced 0.1%. The Dow gained 1.8% last week.

Despite those gains, the S&P 500 failed to notch a fresh record high after flirting with the milestone for most of last week. Through Friday’s close, the S&P 500 was just 0.6% below 3,393.52, the intraday record set in February.

Retail sales for July rose 1.2%, the Commerce Department said. That’s below a Dow Jones estimate of 2.3%. Excluding autos, however, retail sales rose 1.9% to top a forecast of 1.2%. In Washington, lawmakers seem unable to move forward with a coronavirus stimulus bill. This could drag on for weeks as the Senate is in recess until after Labor Day and Hose members have already left for the rest of the month. 

Carnival and Norwegian Cruise Line advanced more than 1% each.

The Empire State Manufacturing index is set for release on Monday.

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Plan A : Short if market failed to support above 3336.50. Targets are 3301.25, 3271.25 and 3230.25.

Plan B : Long if market retraced but supported firm above 3336.50. Targets are 3362.25, 3384.25 and 3409.25.
 


E-Mini Nasdaq

U.S. stock futures rose early Monday morning after Wall Street logged its third consecutive weekly gain, but fell short of breaking the all-time high set on Feb. 19.

Wall Street also grappled with lingering concerns over stalled coronavirus stimulus negotiations and simmering U.S.-China tensions.

Both Democrats and Republicans have indicated they are at a stalemate over a new stimulus package. Democrats have proposed to send more than $900 billion to states and municipalities in one bill. A counteroffer from the GOP did not include any additional aid for states and local governments.

On the U.S.-China front, Trump issued an executive order on Friday forcing ByteDance to sell or spin off its U.S. TikTok business in 90 days. Trump cited “credible evidence” that ByteDance “might take action that threatens to impair the national security of the United States.”

Trump’s order came as the relationship between both countries continues to deteriorate. The U.S. has criticized China over its initial handling of the coronavirus outbreak.

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Plan A : Short if market failed to support above 11055.25. Targets are 11012.25, 10963.25 and 10918.50.

Plan B : Long if market retraced but supported firm above 11055.25. Targets are 11088.25, 11116.50 and 11150.75.




HSI

Hong Kong stocks were little changed on Friday, but posted weekly gains of more than 2% thanks to a rally in consumer players, as investors looked for more stimulus measures to counter the economic damage done by the COVID-19 pandemic.

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Plan A : Attempt short if market does not breach above 25280. Targets are 25130 and 25030. Cut above 25330.

Plan B : Consider long if market trades firmly above 25030. Targets are 25130 and 25280. Cut below 24980.




WTI Crude

Oil prices edged lower on Friday on worries that demand would recover more slowly than expected from COVID-19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories.

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Plan A : Remain buy as long as oil price stays above 41.6
Plan B : Exit below 41.0
Plan C : Consider selling if oil price surges but fails to breach above 42.6
Plan D : Cut above 43.0



Gold

Gold fell on Friday, on track for its worst week since March, as an uptick in U.S. Treasury yields and a logjam over a U.S. stimulus bill to help the coronavirus-hit economy dented the metal's allure.

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Plan A : Remain sell as long as gold price stays below 1967
Plan B : Exit above 1974
Plan C : Consider buying if gold price firm its price above 1906
Plan D : Cut below 1899

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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