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Futurescoin

Author: Futurescoin   |   Latest post: Fri, 3 Apr 2020, 6:16 PM

 

Daily Futures Trading Strategy 21 February 2020 (Foreign Market)

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FUTURESCOIN IS GOING GLOBAL

 

WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

 

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E-Mini Dow

U.S. stocks fell on Thursday, led by declines in technology heavyweights, after reports of new coronavirus cases in China and other countries intensified fears over the virus’s spread and impact on the global economy.

The Dow Jones Industrial Average fell 130.79 points, or 0.45%, to 29,217.24, the S&P 500 lost 13.15 points, or 0.39%, to 3,373 and the Nasdaq Composite dropped 66.22 points, or 0.67%, to 9,750.97.

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Plan A : Long only if market supported firm above 29033. Targets are 29065, 29089 and 29113. 
Plan B : Short if market rebounded and resisted around 29033. Targets are 29000, 28977 and 28950.

 

 

E-Mini S&P 500

 

U.S. stocks finished lower Thursday, after clawing back from steep late-morning losses, as investors struggled to find their footing amid uncertainty about the impact of China’s coronavirus epidemic.

Although investors have been heartened by daily reports of a slowing rate of the spread of the COVID-19 disease, the spread of virus outside China is sparking some anxiety, analysts said.

“We now have Q4 results from 411 S&P 500 members that combined account for 88.6% of the index’s total market capitalization. Total earnings for these 411 index members are up +1.1% from the same period last year on +4.6% higher revenues,” wrote Sheraz Mian, research director at Zacks, in a note.

Even so, Thursday’s action comes as a reminder of how quickly sentiment can shift to pressure stocks lower, with the uncertainty of epidemic injecting some volatility into markets, even as China attempts to pre-empt the pain.


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Plan A : Long only if market supported firm above 3358. Targets are 3372, 3385 and 3393.  

Plan B : Short if market failed to support above 3358. Targets are 3343, 3330 and 3321.


 

E-Mini Nasdaq 

 

Stock markets settled lower after partially recovering from a midday pullback as investors found few reasons to drive equity benchmarks to fresh highs, with the declines being attributed to lingering jitters about the impact of epidemic in China.


Earlier in the session, U.S. equity benchmarks briefly punched into positive territory, amid a burst of corporate deal activity that pointed to optimism about the domestic economy. Meanwhile, U.S. corporate earnings for the fourth quarter also have quelled some fears that stock gains have come purely on the back of momentum and speculation rather than fundamentals, like earnings.


U.S. stock futures were pointing to a lower open Thursday after the S&P 500 and Nasdaq closed at record highs Wednesday. The Dow broke a three-session losing streak with a 115-point advance but still remains nearly 1% away from a new high as investors continue to gauge the impact of the coronavirus on global economic growth. Wall Street investment bank Morgan Stanley has agreed to buy E-Trade for $13 billion, the latest in a consolidation wave for the retail brokerage industry. Before-the-bell, the Labor Department issued its weekly report on first-time filings for unemployment benefits. Claims last week came in as expected at 210,000.

 

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Plan A : Long if market supported firm above 9546. Targets are 9570, 9595 and 9614.

Plan B : Short if market failed to support above 9546. Targets are 9510, 9493 and 9472.



 

HSI

Hong Kong stocks ticked lower on Thursday, as a rapid rise in new coronavirus cases outside mainland China outweighed optimism over Beijing’s widely-anticipated interest rate cut. 

At the close of trade, the Hang Seng index was down 0.2% at 27,609.16. The Hang Seng China Enterprises index rose 0.1%. The sub-index of the Hang Seng tracking energy shares rose 0.5%, the IT sector gained 0.4% and the financial sector was flat. 

China’s stock market hit fresh one-month highs on Thursday as the central bank vowed support for the economy, which has been hurt by the coronavirus outbreak. 

Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.5%, while Japan’s Nikkei index closed up 0.3%. The onshore yuan finished domestic trading at its weakest level since Feb. 3 at 7.0153 per dollar. About 1.58 billion Hang Seng index shares were traded. The volume traded in the previous trading session was 1.47 billion.

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for March subscription.

Afternoon Plan
Plan A : Long if market supported firm above 27283. Targets are 27352 and 27483.
Plan B : Short if market failed to support above 27283. Targets are 27223 and 27105.


 

WTI Crude

 

Oil prices fell on Friday with fears for fuel demand growing as the coronavirus epidemic that originated in China spread further beyond the country, while major crude producers stood pat on taking early action to cut output to support the market.

 

Brent crude was down 24 cents, or 0.4%, at $59.07 a barrel by 0155 GMT, while WTI crude was off by 25 cents, or 0.5%, at $53.63 a barrel.

 

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for March subscription. 

 

Plan A : Long if market supported firm above 53.48. Targets are 53.90, 54.21 and 54.55.

Plan B : Short if market failed to support above 53.48. Targets are 52.95, 52.70 and 52.42.

 

 

Gold

 

Gold prices held steady at a near seven-year high on Friday as nervous investors opted for safe haven assets amid fears about the economic damage from China’s coronavirus epidemic that eclipsed Beijing’s stimulus efforts.

 

Spot gold was little changed at $1,619.33 per ounce by 0108 GMT. In the previous session, bullion prices had hit a seven-year high at $1,623.45.

 

U.S. gold futures were up 0.1% to $1,622.60.

 

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for March subscription. 

 

Plan A : Long if market supported firm above 1634.60. Targets are 1642.10, 1648.20 and 1652.80.

Plan B : Short if market failed to support above 1634.60. Targets are 1626.90, 1622.20 and 1616.80.

 

 

 

 

 

 

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 and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, 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.

 

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