WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Having jumped at the opening bell on Wall Street to a new record high, the Dow Jones Industrial Average quickly drifted into negative territory and kept on falling. At its lowest point in the session, the 30-share index was down more than 700 points. But it managed to pair those losses by the session’s end to close down more than 382 points at 30,223.89.
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Plan A : Long if market doesn't retrace much and supported firm above 30004. Targets are 30039, 30068 and 30101.
Plan B : Short if remain failed to support above 30004. Targets are 29965, 29928 and 29883.
E-Mini S&P 500
Wall Street's main indexes fell nearly 2% on the first trading day of the year on Monday, as nerves over the outcome of runoff elections in Georgia this week countered optimism over a vaccine-driven recovery in the global economy.
Before dipping in the red, the S&P 500 and the Dow notched record levels within the first few minutes of trading, attempting to extend a rally from 2020 fueled by monetary stimulus and the start of vaccine roll-outs.
All major S&P sectors dropped with real estate, utilities and industrials posting the sharpest percentage declines. Consumer discretionary and materials hit all-time highs in early trading.
Wall Street's main indexes fell nearly 2% on the first trading day of the year on Monday, as nerves over the outcome of runoff elections in Georgia this week countered optimism over a vaccine-driven recovery in the global economy.
Before dipping in the red, the S&P 500 and the Dow notched record levels within the first few minutes of trading, attempting to extend a rally from 2020 fueled by monetary stimulus and the start of vaccine roll-outs.
All major S&P sectors dropped with real estate, utilities and industrials posting the sharpest percentage declines. Consumer discretionary and materials hit all-time highs in early trading.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for December subscription.
Plan A : Long if market doesn't retrace much and supported firm above 3684. Targets are 3700 and 3716.
Plan B : Short if market failed to support above 3684. Targets are 3656 and 3638.
E-Mini Nasdaq
U.S. stock futures held steady in overnight trading on Monday after the S&P 500 suffered its first decline to start a year since 2016.
The Nasdaq Composite declined 1.4% as the FAANG block all slumped to start the new year.
The broad market sell-off occurred ahead of Tuesday’s Georgia runoff elections, which will determine whether Republicans can hold on to control in the Senate. Meanwhile, rising Covid-19 cases globally and new lockdown restrictions continued to keep investors on edge.
Many fear that increased tax rates and more progressive policies could become reality if Democrats gain control of the Senate. However, such an outcome could create an opportunity for a bigger and faster spending package, which will help support the market.
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 12627. Targets are 12589, 12550 and 12501.
Plan B : Long if market doesn't retrace much and supported firm above 12627. Targets are 12658, 12689 and 12721.
Plan A : Long if market doesn't retrace much and supported firm above 3684. Targets are 3700 and 3716.
Plan B : Short if market failed to support above 3684. Targets are 3656 and 3638.
U.S. stock futures held steady in overnight trading on Monday after the S&P 500 suffered its first decline to start a year since 2016.
The Nasdaq Composite declined 1.4% as the FAANG block all slumped to start the new year.
The broad market sell-off occurred ahead of Tuesday’s Georgia runoff elections, which will determine whether Republicans can hold on to control in the Senate. Meanwhile, rising Covid-19 cases globally and new lockdown restrictions continued to keep investors on edge.
Many fear that increased tax rates and more progressive policies could become reality if Democrats gain control of the Senate. However, such an outcome could create an opportunity for a bigger and faster spending package, which will help support the market.
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 12627. Targets are 12589, 12550 and 12501.
Plan B : Long if market doesn't retrace much and supported firm above 12627. Targets are 12658, 12689 and 12721.
HSI
Hong Kong stocks tracked gains in other Asian markets to kick off the new year on an upbeat note, although the gains were capped by Sino-U.S. tensions.
The Hang Seng index rose 0.9% to 27,472.81, its highest since Feb. 20, 2020, while the China Enterprises Index lost 0.1% to 10,722.99.
Leading the gains, the Hang Seng materials index and the Hang Seng industrials index climbed 4.7% and 3.3%, respectively.
Money would flow back to traditional stocks, thanks to expectations of a global economic recovery on vaccine progress, while consumer firms are expected to benefit from China’s continued measures to stimulate the country’s consumption, KGI Securities noted in a report.
Activity in China’s factory sector rose in December as the economy sustained its recovery to pre-pandemic levels, a business survey showed on Monday.
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 firm above 27600. Targets are 27535 and 27468.
Plan B : Long if market doesn't retrace much and supported firm above 27468. Targets are 27520 and 27592.
WTI Crude
Oil prices slipped from multi-month highs in volatile trade on Monday as U.S. stocks fell near 2% on concerns over the outcome of runoff elections in Georgia.The oil market pared earlier losses after the Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, could not decide on Monday whether or not to increase output in February and will meet again on Tuesday.
U.S. WTI settled 1.85%, or 90 cents, lower at $47.62 per barrel.
OPEC+ increased output by 500,000 barrels per day (bpd) this month but some members have questioned the need to increase more from February due to an upsurge in the COVID-19 pandemic.
The oil market pared earlier losses after the Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, could not decide on Monday whether or not to increase output in February and will meet again on Tuesday.
U.S. WTI settled 1.85%, or 90 cents, lower at $47.62 per barrel.
OPEC+ increased output by 500,000 barrels per day (bpd) this month but some members have questioned the need to increase more from February due to an upsurge in the COVID-19 pandemic.
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 47.38. Targets are 47.11 and 46.76.
Plan B : Long if market doesn't retrace much and supported firm above 47.38. Targets are 47.71 and 47.97
Gold prices inched lower on Tuesday after hitting an eight-week high, as the U.S. dollar halted its slide ahead of Senate runoff elections in Georgia that will decide the future path of fiscal stimulus in the world’s largest economy.
Spot gold was down 0.2% to $1,938.11 per ounce by 0235 GMT, after hitting its highest since Nov. 9 at $1,945.26 earlier in the session, while U.S. gold futures shed 0.3% to $1,941.40.
Bullion jumped as much as 2.5% on Monday after the dollar slipped to its lowest since April 2018, but since then the U.S. currency has bounced back.
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