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 : Attempt short if market trades below 28084. Targets are 27826 and 27666.Plan B : Cut above 28244.Plan C : Consider long if market recovers and stays firm above 28084. Targets are 28240 and 28340.Plan D : Cut below 27985.
E-Mini S&P 500
The Dow fell 159.42 points, or 0.6%, to 28,133.31. The S&P 500 dipped 0.81% to 3,426.96. The Nasdaq Composite slid 1.3%. Stocks gyrated wildly throughout Friday's session as tech shares tried to recover from a massive sell-off in the previous session. The Dow was down more than 600 points at one point. All the major benchmarks fell for the week as tech shares declined.The U.S. unemployment rate fell to 8.4% last month from 10.2% in July, the Labor Department said. Economists polled by Dow Jones expected the rate to decline to 9.8%. As for overall jobs creation, employment in the U.S. grew by 1.37 million in August, topping an estimate of 1.32 million. “The jobs data today were solid,” said Jamie Cox, managing partner at Harris Financial Group. “However, now the real work begins. The next 2-3% of employment gains are going to be very tough because there is no total reopening in sight.”
The report was not enough to push the markets into the green, however.
JPMorgan Chase and Citigroup both gained 2% as traders rotated into more beaten-down names. Boeing also climbed 1.4%. Apple, meanwhile, closed slightly higher after a late-day rally. Tesla ended the session 2.8% higher after dropping as much as 8.6%.
It will be a shortened trading week as U.S. markets are closed on Monday for Labor Day.
The U.S. unemployment rate fell to 8.4% last month from 10.2% in July, the Labor Department said. Economists polled by Dow Jones expected the rate to decline to 9.8%. As for overall jobs creation, employment in the U.S. grew by 1.37 million in August, topping an estimate of 1.32 million. “The jobs data today were solid,” said Jamie Cox, managing partner at Harris Financial Group. “However, now the real work begins. The next 2-3% of employment gains are going to be very tough because there is no total reopening in sight.”
The report was not enough to push the markets into the green, however.
JPMorgan Chase and Citigroup both gained 2% as traders rotated into more beaten-down names. Boeing also climbed 1.4%. Apple, meanwhile, closed slightly higher after a late-day rally. Tesla ended the session 2.8% higher after dropping as much as 8.6%.
It will be a shortened trading week as U.S. markets are closed on Monday for Labor Day.
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Plan A : Short if market failed to support above 3392. Targets are 3365, 3342 and 3314.
Plan B : Long if market supported firm above 3392. Targets are 3410, 3425 and 3441.
Plan A : Short if market failed to support above 3392. Targets are 3365, 3342 and 3314.
Plan B : Long if market supported firm above 3392. Targets are 3410, 3425 and 3441.
E-Mini Nasdaq
The Nasdaq was on track for its worst two-day fall since March on Friday as investors dumped heavyweight technology stocks, while concerns around a patchy economic recovery also hit the S&P 500 and the blue-chip Dow.
The tech-heavy Nasdaq fell as much as 9.9% from Wednesday’s all-time record high and the S&P 500 dipped briefly below its February peak.
Mega-cap companies Apple Inc, Microsoft Inc, Amazon.com Inc and Facebook Inc, were down between 1.9% and 3.6%.
Losses were more pronounced in the Nasdaq, which have powered the stock market’s stellar recovery from the coronavirus-led crash, climbing as much as 82% from March lows. The benchmark S&P 500 and Dow have surged about 60% from their troughs.
Earlier in the day, the Labor Department’s closely watched employment report showed jobless rate fell to 8.4% from 10.2% in July, steeper than economists’ forecast of 9.8%. Non-farm payrolls, however, increased less than expected last month.
The data added pressure on the White House and Congress to restart stalled negotiations over the next coronavirus relief package to lift the economy out of the worst recession since the Great Depression.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for September subscription.
The Nasdaq was on track for its worst two-day fall since March on Friday as investors dumped heavyweight technology stocks, while concerns around a patchy economic recovery also hit the S&P 500 and the blue-chip Dow.
The tech-heavy Nasdaq fell as much as 9.9% from Wednesday’s all-time record high and the S&P 500 dipped briefly below its February peak.
Mega-cap companies Apple Inc, Microsoft Inc, Amazon.com Inc and Facebook Inc, were down between 1.9% and 3.6%.
Losses were more pronounced in the Nasdaq, which have powered the stock market’s stellar recovery from the coronavirus-led crash, climbing as much as 82% from March lows. The benchmark S&P 500 and Dow have surged about 60% from their troughs.
Earlier in the day, the Labor Department’s closely watched employment report showed jobless rate fell to 8.4% from 10.2% in July, steeper than economists’ forecast of 9.8%. Non-farm payrolls, however, increased less than expected last month.
The data added pressure on the White House and Congress to restart stalled negotiations over the next coronavirus relief package to lift the economy out of the worst recession since the Great Depression.
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Plan A : Short if market failed to support above 11375. Targets are 11331, 11294 and 11230.
Plan B : Long if market supported firm above 11375. Targets are 11400, 11432 and 11469.
HSI
Plan A : Short if market failed to support above 11375. Targets are 11331, 11294 and 11230.
Plan B : Long if market supported firm above 11375. Targets are 11400, 11432 and 11469.
HSI
Hong Kong stocks dropped on Friday, following Wall Street's overnight selloff, and posted their steepest weekly fall in more than three months.
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Plan A : Attempt short if market stays below 24700. Targets are 24518 and 24368. Cut above 24800.
Plan B : Consider long if market gaps down but trades firmly above 24388. Targets are 24518 and 24610. Cut below 24300.
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Plan A : Consider buy if oil price tumbles but holds resiliently above 38.7
Plan B : Exit below 38.0
Plan C : Attempt selling if oil price trades below 39.9
Plan D : Cut above 40.7
Plan D : Cut above 40.7
Gold
Gold was flat on Friday, reversing course as better-than-expected U.S. employment data bolstered the dollar, putting bullion on course for a weekly decline of more than 2%.
Gold
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