Monday, August 24, 2020

25 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 S&P 500 and the Nasdaq reached new record closing highs on Monday as optimism over potential medical advances in the war against the coronavirus pandemic pushed all three major U.S. stock indexes higher. The blue-chip Dow, while leading Monday's gains, remains nearly 4.2% below its all-time high, and own 0.8% year-to-date.

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Plan A : Remain long as long as market trades firmly above 28200. Targets are 28330 and 28418.
Plan B : Exit below 28160.
Plan C : Attempt short if market surges but stays below 28418. Targets are 28330 and 28220.



E-Mini S&P 500

The Dow climbed 378.13 points, or 1.35%, to close at 28,308.46. The S&P 500 advanced 1% to 3431.28, closing above 3400 for the first time. The Nasdaq Composite rose 0.6% to end the day at 11,379.72. A combination of optimism around coronavirus treatments and vaccines and even more gains in Apple drove the S&P 500 and Nasdaq to fresh record levels.

Since spiking to more than 64,000 cases earlier this month, the number of new daily infections in the U.S. has not topped 49,000, according to Johns Hopkins University. On Sunday, there were less than 37,000 new confirmed cases, the data showed. “The US is soon becoming one of the safest places in the World. And if this is true, capital will also want to seek the US,” which means “stocks rise further,” said Tom Lee, head of research at Fundstrat Global Advisors.

Apple shares rose 1.2% to hit an all-time high. Shares of Delta and American Airlines rose by 9% and 10%, respectively. Cruise operators Carnival and Norwegian Cruise Line were both up by more than 7%.

Consumer confidence data and new home sales numbers are set for release Tuesday.

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Plan A : Short if market failed to support above 3421.25. Targets are 3398.25, 3380.50 and 3350.25.

Plan B : Long if market retraced but supported firm above 3394.25. Targets are 3412.25, 3433.50 and 3454.25.



E-Mini Nasdaq

U.S. stock futures rose slightly on Monday night after another record-setting session on Wall Street.

During regular trading, the S&P 500 climbed 1% and closed above 3,400 for the first time. Apple also hit an all-time high, leading other tech names higher, while airline and cruise operator stocks jumped amid enthusiasm on the coronavirus front.

Data compiled by Johns Hopkins University showed new cases fell to under 37,000 and have been below 50,000 since mid-August.

Meanwhile, the Food and Drug Administration approved the use of convalescent plasma as a treatment for coronavirus patients. The Trump administration is also reportedly considering fast-tracking an experimental vaccine from the U.K.

Traders also looked ahead to key data releases, including the latest figures on consumer confidence and new home sales, which were both set for release on Tuesday.

Later this week, the Federal Reserve will hold its annual symposium on monetary policy. Wall Street will look for clues on further stimulus and where the economy is headed out of the event.

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Plan A : Short if market failed to support above 11616.25. Targets are 11580.25, 11548.50 and 11510.25.

Plan B : Long if market retraced but supported firm above 11471.25. Targets are 11499.25, 11530.50 and 11562.25.



HSI

Hong Kong stocks rose to a one-month closing high on Monday, led by tech firms as investors cheered Beijing's continued efforts to foster tech strength.

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Plan A : Attempt short if market surges but does not breach above 25780. Targets are 25580 and 25470. Cut above 25840.

Plan B : Consider long if market trades firmly above 25470. Targets are 25580 and 25780. Cut below 25390.


WTI Crude

Two storms are barreling toward the Gulf Coast forcing a shutdown in oil operations, but the muted reaction in oil prices demonstrates just how closely the market is tied to a global recovery from COVID-19.

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Plan A : Attempt buy as long as oil price stays above 42.3
Plan B : Exit below 41.6
Plan C : Consider selling if oil price surges but fails to breach above 42.6
Plan D : Cut above 43.0

Gold

Gold prices fell on Monday as optimism over a U.S. health regulator's authorization of a COVID-19 treatment lifted Wall Street stocks to record highs.

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Plan A : Attempt buy if gold price trades firmly above 1922
Plan B : Cut below 1906.2
Plan C : Consider selling if gold price trades below 1967
Plan D : Cut above 1980

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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