FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stocks indexes closed lower on Friday to cap Wall Street's biggest weekly sell-off since March, as losses in richly priced tech heavyweights, a record rise in coronavirus cases and jitters over the presidential election snuffed investor sentiment.
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Plan A : Consider buy only if market supported firmly above 26073. Targets are 26500 and 26727.
Plan B : Remain sell as long as market trades below 26727. Targets are 26500 and 26073.
E-Mini S&P 500
Stock futures were flat in overnight trading on Sunday amid rising concerns that coronavirus cases could slow the global economy.
The move came as England adopted a stay-at-home order and as traders braced for Tuesday’s U.S. presidential election, where a contested fight for president or the Senate could delay a much-needed fiscal stimulus for the U.S. economy.
The U.S. is also grappling with rising new coronavirus infections. The nation reported 99,321 new Covid-19 cases on Friday, beating its previous record set only a day prior, according to Johns Hopkins University. The top five records in daily cases have all been reported within the last eight days.
The major averages are coming off their worst week since March 20 as coronavirus cases surged, fiscal stimulus negotiations fell apart and as shares of megacap tech companies including Apple and Amazon slumped following their quarterly earnings reports.
Apart from the election, investors are faced with other key events later this week, including a Federal Reserve policy meeting and October’s jobs report.
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Plan A : Long if market supported firm above 3278. Targets are 3295, 3309 and 3330.
Plan B : Short if market failed to support above 3278. Targets are 3254, 3225 and 3203.
E-Mini Nasdaq
Stocks fell on Friday, led by major tech shares, as Wall Street wrapped up a difficult week in which coronavirus cases rose, U.S. fiscal stimulus talks broke down and traders braced for next week’s presidential election.
The Dow closed 157.51 points lower, or 0.6%, at 26,501.60. At one point, the Dow was down more than 500 points. The S&P 500 dropped 1.2% to 3,269.96 and the Nasdaq Composite pulled back 2.5% to 10,911.59.
Those weekly losses came as the seven-day average of new coronavirus cases in the U.S. hit an all-time high this week, according to data from Johns Hopkins University. In Europe, Germany and France announced new lockdown measures to curb the virus’ spread.
Traders had been betting on both sides reaching a stimulus deal before Tuesday’s vote as some recent data shows the economic recovery could stall without new aid. This is all taking place as traders prepare for choppy market moves next week amid the U.S. presidential election.
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Plan A : Long if market supported firm above 11112. Targets are 11140, 11175 and 11199.
Plan B : Short if market failed to support above 11112. Targets are 11079, 11030 and 10991.
Hong Kong stocks fell on Friday, tracking other Asian markets' declines on worries over next week's U.S. presidential election and a shaky global economic outlook, but strengths in tech companies led to monthly gains.
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Plan A : Attempt buy if market supported firmly above 23898 and rebound. Targets are 24102 and 24245.
Plan B : Remain selling as long as market stays below 24245. Targets are 24102 and 23898.
WTI Crude
Oil prices fell more than 1% on Friday, extending losses and on track for a second monthly fall, on growing concerns that the rise in COVID-19 cases in Europe and the United States could hurt fuel consumption.
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Plan A : Remain sell as long as oil price trades below 37.0. Targets are 35.9 and 35.2
Plan B : Consider long only if oil price test support at 35.2 and rebound. Targets are 35.9 and 37.0
Gold
Gold prices rose on Friday as the dollar rally paused, with worries over rising COVID-19 cases and uncertainty surrounding next week's U.S. presidential election offering support to the safe-haven metal.
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Plan A : Remain short as long gold price trades below 1910. Targets are 1885 and 1878.
Plan B : Consider buy only if gold price holds resiliently above 1854 and rebound. Targets are 1878 and 1885.
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, mining.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.
