FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
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Plan A : Long if market retraced and supported firm above 27389. Targets are 27425, 27470 and 27511.
Plan B : Short if market failed to support above 27389. Targets are 27345, 27310 and 27269.
E-Mini S&P 500
Tuesday’s sell-off after a three-day bounce signals continued stock market volatility, and the possibility that the correction is not yet over.
The S&P 500 was up, down, sideways and down again Tuesday, finishing the day at 3,335. It had declined amid new concerns about the coronavirus spreading in New York and then ended the day a half percent lower ahead of Tuesday evening’s potentially pivotal presidential debate.
Among 11 major sectors in the S&P 500, all but communication services closed in the red, with energy and financials suffering the largest percentage losses.
Despite September’s expected loss, the S&P and the Nasdaq were on course for their best two-quarter winning streaks since 2009 and 2000, respectively.
Tuesday’s sell-off after a three-day bounce signals continued stock market volatility, and the possibility that the correction is not yet over.
The S&P 500 was up, down, sideways and down again Tuesday, finishing the day at 3,335. It had declined amid new concerns about the coronavirus spreading in New York and then ended the day a half percent lower ahead of Tuesday evening’s potentially pivotal presidential debate.
Among 11 major sectors in the S&P 500, all but communication services closed in the red, with energy and financials suffering the largest percentage losses.
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Plan A : Short if market failed to support above 3327. Targets are 3305, 3274 and 3250.
Plan B : Long if market doesn't retrace much and supported firm above 3327. Targets are 3345, 3358 and 3375.
E-Mini Nasdaq
U.S. stock futures declined on Tuesday night as traders digested the first U.S. presidential debate.
Positive data regarding a potential coronavirus treatment from Regeneron Pharmaceuticals kept the losses in check.
Futures rose slightly during the debate, but quickly gave up that ground as the debate ended. It wasn’t clear whether the gyrations were related to the contentious comments being traded back and forth by the candidates. Traders are hoping that the start of the debate process will lead to a clear winner on Election Day and not a drawn-out electoral process that could hit the market.
The major averages snapped a three-day winning streak earlier in the day, with the Dow falling more than 100 points, or 0.5%. The S&P 500 also closed 0.5% lower and the Nasdaq Composite slid 0.3%. Those losses came amid concerns over a virus resurgence. New York City Mayor Bill de Blasio said the city’s daily positive rate of coronavirus tests is back above 3% for the first time in months.
“Coronavirus infection rates are rising in Europe and the United States as children return to school,” Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, wrote in a note. “We expect the United States to continue its modest pace of economic improvement, though virus growth and a softer labor market are threats.”
U.S. stock futures declined on Tuesday night as traders digested the first U.S. presidential debate.
Positive data regarding a potential coronavirus treatment from Regeneron Pharmaceuticals kept the losses in check.
Futures rose slightly during the debate, but quickly gave up that ground as the debate ended. It wasn’t clear whether the gyrations were related to the contentious comments being traded back and forth by the candidates. Traders are hoping that the start of the debate process will lead to a clear winner on Election Day and not a drawn-out electoral process that could hit the market.
The major averages snapped a three-day winning streak earlier in the day, with the Dow falling more than 100 points, or 0.5%. The S&P 500 also closed 0.5% lower and the Nasdaq Composite slid 0.3%. Those losses came amid concerns over a virus resurgence. New York City Mayor Bill de Blasio said the city’s daily positive rate of coronavirus tests is back above 3% for the first time in months.
“Coronavirus infection rates are rising in Europe and the United States as children return to school,” Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, wrote in a note. “We expect the United States to continue its modest pace of economic improvement, though virus growth and a softer labor market are threats.”
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for October subscription.
Plan A : Long if market doesn't retrace much and supported firm above 11259. Targets are 11287, 11320 and 11351.
Plan B : Short if market failed to support above 11259. Targets are 11210, 11180 and 11120.
HSI
Hong Kong stocks fell on Tuesday as growing concerns over the coronavirus pandemic outweighed China recovery optimism.
The Hang Seng index fell 0.9% to 23,275.53, while the China Enterprises Index dropped 1.1% to 9,281.52 points.
The market rose in early trading on China recovery hopes. China’s factory activity likely expanded at a slightly faster pace in September, a Reuters poll showed.
But stocks erased gains as investors weighed China growth optimism against pandemic threats. Compared with mainland China, Hong Kong is more open, thus more vulnerable to global resurgence.
Plan A : Long if market doesn't retrace much and supported firm above 11259. Targets are 11287, 11320 and 11351.
Plan B : Short if market failed to support above 11259. Targets are 11210, 11180 and 11120.
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