WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
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Plan A : Attempt sell if market trades below 30864. Targets are 30746 and 30473.
Plan B : Consider long only if market supports firmly above 30746 and rebound. Targets are 30860 and 31000.
E-Mini S&P 500
The S&P 500 slipped slightly from a record high on Tuesday as Wall Street geared up for the heart of corporate earnings season including reports from a slew of blue-chip companies and major tech players.
The broad equity benchmark dipped 0.2% to 3,849.57 after hitting a new intraday record earlier in the session.
General Electric shares jumped 2.7% on its better-than-expected industrial free cash flow for the fourth quarter and a rosy outlook for the year. Johnson & Johnson popped more than 2% after the drugmaker’s earnings topped expectations. 3M also jumped 3.3% after strong results.
Companies started the earnings season with a high beat rate. Of the S&P 500 components that have already reported earnings, over 70% have topped Wall Street’s expectations on both sales and earnings, according to data from Bank of America.
The S&P 500 slipped slightly from a record high on Tuesday as Wall Street geared up for the heart of corporate earnings season including reports from a slew of blue-chip companies and major tech players.
The broad equity benchmark dipped 0.2% to 3,849.57 after hitting a new intraday record earlier in the session.
General Electric shares jumped 2.7% on its better-than-expected industrial free cash flow for the fourth quarter and a rosy outlook for the year. Johnson & Johnson popped more than 2% after the drugmaker’s earnings topped expectations. 3M also jumped 3.3% after strong results.
Companies started the earnings season with a high beat rate. Of the S&P 500 components that have already reported earnings, over 70% have topped Wall Street’s expectations on both sales and earnings, according to data from Bank of America.
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Plan A : Long if market supported firm above 3835. Targets are 3850, 3867 and 3882.
Plan B : Short if market failed to support above 3835. Targets are 3810, 3782 and 3757.
E-Mini Nasdaq
The Nasdaq Composite fell 0.1% from a record high to 13,626.06.
Tech giant Microsoft will announce its fiscal second-quarter earnings after the bell. Shares of Microsoft climbed more than 1%. Apple, Facebook, Caterpillar and Tesla are all set to report later this week.
Wild swings resumed in heavily shorted stocks, including GameStop and AMC Entertainment, as enthusiastic retail investors active in chat rooms continued to bet against short-selling hedge funds. The volatility has some investors concerned about stocks becoming detached from fundamentals as speculation runs rampant.
GameStop popped another 92.7% at a record on Tuesday. AMC gained more than 12%.
The Biden administration signaled Tuesday that it could be open to tweaking eligibility for future stimulus checks. President Joe Biden’s $1.9 trillion proposal calls for $1,400 direct deposits, but the plan has drawn critiques from a bipartisan group of lawmakers because of its lofty price tag.
Investors were also waiting for a new policy statement from the Federal Reserve as the central bank began its two-day meeting on Tuesday.
Plan A : Long if market supported firm above 3835. Targets are 3850, 3867 and 3882.
Plan B : Short if market failed to support above 3835. Targets are 3810, 3782 and 3757.
The Nasdaq Composite fell 0.1% from a record high to 13,626.06.
Tech giant Microsoft will announce its fiscal second-quarter earnings after the bell. Shares of Microsoft climbed more than 1%. Apple, Facebook, Caterpillar and Tesla are all set to report later this week.
Wild swings resumed in heavily shorted stocks, including GameStop and AMC Entertainment, as enthusiastic retail investors active in chat rooms continued to bet against short-selling hedge funds. The volatility has some investors concerned about stocks becoming detached from fundamentals as speculation runs rampant.
GameStop popped another 92.7% at a record on Tuesday. AMC gained more than 12%.
The Biden administration signaled Tuesday that it could be open to tweaking eligibility for future stimulus checks. President Joe Biden’s $1.9 trillion proposal calls for $1,400 direct deposits, but the plan has drawn critiques from a bipartisan group of lawmakers because of its lofty price tag.
Investors were also waiting for a new policy statement from the Federal Reserve as the central bank began its two-day meeting on Tuesday.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for February subscription.
Plan A : Long if market doesn't retrace much and supported firm above 13489. Targets are 13519, 13545 and 13583.
Plan B : Short if market failed to support above 13489. Targets are 13450, 13411 and 13365.
HSI
Hong Kong shares slumped 2.5% on Tuesday, pulling back sharply from the previous session's rally, as global investor concerns over the timing of aggressive U.S. stimulus and rising Sino-U.S. tensions whacked risk appetite.
Plan A : Long if market doesn't retrace much and supported firm above 13489. Targets are 13519, 13545 and 13583.
Plan B : Short if market failed to support above 13489. Targets are 13450, 13411 and 13365.
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