Sunday, September 20, 2020

21 September 2020 Foreign

         FUTURESCOIN IS GOING                      GLOBAL


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

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E-Mini Dow


U.S. stocks fell on Friday as technology shares sold off for a third day in a row, while all three major U.S. indexes posted a third straight week of declines.

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Plan A : Attempt short if market trades below 27868. Targets are 27610 and 27440.
Plan B : Cut above 27933.
Plan C : Consider long if market stays firm above 27607. Targets are 27760 and 27868.
Plan D : Cut below 27550.



E-Mini S&P 500

The Dow slid 244.56 points, or 0.9%, to 27,657.42. The S&P 500 closed 1.1% lower at 3,319.42. The Nasdaq Composite dropped 1.1% to 10,793.28. Stocks were under pressure once again by steep declines in major tech names.

Apple dropped 3.2% and Amazon pulled back by 1.8%. Microsoft ended the day down 1.2%. At the S&P 500 sector level, tech fell more than 1% on Friday. Those losses drove major benchmarks to their first three-week losing streaks since last year. 

Tensions between China and the U.S. also dampened sentiment on Friday after the U.S. government said it will block all TikTok and WeChat downloads in the country on Sunday. Oracle, which is trying to take a minority stake in TikTok-parent ByteDance, fell 0.7%.

Nike and Costco are among the companies set to report earnings next week. The latest look at existing U.S. home sales is also scheduled for next week. 

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Plan A : Long if market doesn't retrace much and supported firm above 3276. Targets are 3290, 3307 and 3323.

Plan B : Short if market rebounded and resisted around 3276. Targets are 3251, 3220 and 3198.



E-Mini Nasdaq

U.S. stock futures were lower early Monday morning as the market tried to bounce back from its longest weekly losing streak in about a year.

The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all fell for a third straight week. That marks the market’s longest weekly slide since 2019.

Those declines came as tech shares — which led the broader market off its coronavirus lows and into record territory — struggled. Facebook, Amazon, Apple, Netflix, Google-parent Alphabet and Microsoft all posted steep weekly losses. The S&P 500 tech sector pulled back by 1%.

Tech was under pressure last week in part because of valuation concerns within the space as well as options of individual stocks, ETFs and indexes expired.

President Donald Trump hinted last week he would back a bigger relief package. White House chief of staff Mark Meadows also said he was “probably more optimistic about the potential for a deal.”

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Plan A : Long if market doesn't retrace much and supported firm above 10857. Targets are 10885, 10912 and 10950.

Plan B : Short if market rebounded and resisted around 10857. Targets are 10810, 10759 and 10709.


HSI

Hong Kong stocks ended higher on Friday but posted third straight weekly drop on worries over ongoing Sino-U.S. tensions and lingering disappointment that central banks merely affirmed their monetary support this week.

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Plan A : Attempt short if market trades below 24518. Targets are 24335 and 24250.
Plan B : Cut above 24540.
Plan C : Consider long if market stays firm above 24300. Targets are 24440 and 24530.
Plan D : Cut below 24250.



WTI Crude

Oil prices were mixed on Friday after a Libyan commander said a blockade on the country's oil exports would be lifted for a month, while a declining U.S. equities market also weighed on futures.

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Plan A : Remain buy as long as oil price holds resiliently above 40.6

Plan B : Exit below 39.9
Plan C : Consider sell if oil price surges but fails to breach above 41.2
Plan D : Cut above 41.9


Gold

Gold prices rose on Friday, en route to a second straight weekly gain, as the dollar weakened and on concerns about economic recovery from the coronavirus crisis.

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Plan A : Remain buy if gold price trades firmly above 1935.2
Plan B : Cut below 1930
Plan C : Consider selling if gold price surges but fails to breach above 1955
Plan D : Cut above 1966


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 correction, 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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