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We are expanding to global markets
FUTURESCOIN IS GOING GLOBAL
Stocks fell on Monday as traders booked some profits given the historically strong gains logged in November.
The Dow dropped 271.73 points, or 0.9%, to close at 29,638.64. The S&P 500 slid 0.5% to 3,621.63, and the Nasdaq Composite closed lower by 0.1% at 12,198.74.
Energy led the way lower in the S&P 500, losing 5.4% for its worst day since June 24.
As promising vaccine developments boosted confidence of a smooth economic re-opening, the S&P 500 and the Nasdaq climbed 10.8% and 11.8%, respectively, in November, their biggest monthly advances since April.
Plan A : Short if market failed to support above 3637. Targets are 3612, 3586 and 3560.
Plan B : Long if market retraced but supported firm above 3637. Targets are 3652, 3670 and 3685.
U.S. stock futures rose on Monday night after the major averages notched sharp monthly gains for November.
November’s rally came amid a slew of positive coronavirus vaccine news, which lifted hope of a strong economic recovery and sparked a surge in beaten-down value names.
“Vaccine news has further buoyed spirits with several therapeutic/preventative lights now at the end of the pandemic tunnel being another set of positive data points,” wrote Tobias Levkovich, chief U.S. equity strategist at Citi. However, he added investors may be getting too complacent about the risks the market still faces.
Meanwhile, Federal Reserve Chairman Jerome Powell called the U.S. economic outlook “extraordinarily uncertain.”
“The rise in new COVID-19 cases, both here and abroad, is concerning and could prove challenging for the next few months,” Powell said in prepared remarks. “A full economic recovery is unlikely until people are confident that it is safe to reengage in a broad range of activities.”
Plan A : Long if market doesn't retrace much and supported firm above 12292. Targets are 12320, 12355 and 12387.
Plan B : Short if market failed to support above 12292. Targets are 12250, 12213 and 12168.
We are expanding to global markets
FUTURESCOIN IS GOING GLOBAL
Stock rose on Friday as traders wrapped up a strong week amid decreasing political uncertainty and positive vaccine news.
The S&P 500 gained 0.3% to end the day at 3,638.35, notching a record closing high. The Nasdaq Composite advanced 0.9% to 12,205.85 and also closed at an all-time high. The Dow closed higher by 37.90 points, or 0.1%, at 29,910.37. Friday’s session ended at 1 p.m. ET.
Retailers led the early gains as investors bet on a strong holiday shopping season. The SPDR S&P Retail ETF (XRT) rose 0.9% and hit an all-time high. Etsy shares popped 10.7%, and Gamestop advanced 9%. Amazon shares gained 0.3%, and Shopify climbed 1.5% after Adobe Analytics said Thanksgiving Day online sales rose to a record $5.1 billion.
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Plan A : Short if market failed to support above 3600. Targets are 3572, 3549 and 3527.
Plan B : Long if market retraced but supported firm above 3600. Targets are 3617, 3631 and 3648.
Stock futures dipped in overnight trading on Sunday as the market looks set to finish November with historically strong gains.
Futures took a leg down after Reuters reported that the Trump administration is weighing blacklisting Chinese leading chipmaker SMIC as well as national offshore oil and gas producer CNOOC. The move would limit their access to American investors and escalate tensions with China before President-elect Joe Biden takes over.
Despite the overnight weakness, major equity averages are poised to wrap up a strong month. The blue-chip Dow has risen 12.9% so far this month, on pace for its best monthly performance since January 1987, as promising vaccine developments boosted confidence of a smooth economic reopening. The S&P 500 and the Nasdaq have climbed 11.3% and 11.9%, respectively, in November, both on track to post their biggest monthly advance since April.
Still, investors continue to monitor the coronavirus pandemic which has killed more than 266,000 people in the U.S. Dr. Anthony Fauci, the nation’s top infectious disease expert, said on Sunday that the U.S. is heading into a tough period of the pandemic in which restrictions and travel advisories will be necessary.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for December subscription.
Plan A : Short if market failed to support above 12141. Targets are 12100, 12059 and 12022.
Plan B : Long if market supported firm above 12141. Targets are 12168, 12203 and 12241.
We are expanding to global markets
HAPPY SHOPPING !!!
FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq If you like what we are doing, kindly like and share our page on FB. Foll...