FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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U.S. stock index futures gained on Tuesday ahead of the release of manufacturing data as investors looked for fresh signs of domestic demand in the world’s largest economy amid softening global growth.
A crucial jobs report on Friday is expected to shed further light on U.S. economic growth. The Federal Reserve is also looking at these data to determine whether it should cut interest rates again this year.
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Plan A : Continue to sell if market if market stays below 26607
Plan B : Cut above 26639
Plan C : Consider buying if market rebounds firmly from 26607
Plan D : Cut below 26575
Stocks dropped on Tuesday, the first trading day of the fourth quarter, as disappointing manufacturing data stoked worries over the U.S. economy.
The S&P 500 slid -36.49 points or 1.23% closed at 2,940.25. Tuesday marked the worst one-day performance for the S&P 500 since Aug. 23.
The Institute for Supply Management said U.S. manufacturing activity contracted to its worst level since June 2009. The ISM report follows the release of weak manufacturing data from Europe.
Treasury yields reversed earlier gains as investors dumped equities in favor of the traditionally safer U.S. bonds. The 10-year yield was down at 1.64% after rising to around 1.75%. The 2-year rate dropped to 1.54% from about 1.68%. Yields around the world initially rose after an sovereign debt auction in Japan saw weak demand.
Plan A : Sell if market rebounded but resisted around 2943.25. Targets are 2928.50, 2915.25 and 2907.75.
Plan B : Buy if market supported firm above 2916.25. Targets are 2931.50, 2940.75 and 2948.75.
Plan C : Sell if market failed to support above 2916.25. Targets are 2901.50, 2890.25 and 2881.75.
The Nasdaq composite forfeited a solid early gain of as much as 0.8% amid a broad initial advance in stock today. But another month of weak manufacturing data torpedoed the rally. The tech-weighted index slipped around 0.7%.
The Nasdaq ended -90.65 points or -1.13% to close at 7908.69 on Monday close. The Nasdaq improved around 0.5% in September even with all the ups and downs over the past several weeks (including trade shenanigans, inverting yield curves and now impeachment); the major indices were still in the green for September.
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Plan A : Sell if market failed to support above 7667.25. Targets are 7627.25, 7598.50 and 7565.75.
Plan B : Sell if market rebounded but resisted around 7700.50. Targets are 7660.25, 7629.75 and 7598.25.
Plan C : Buy only if market supported firm above 7667.25. Targets 7707.50, 7738.25 and 7765.75.
WTI Crude
Oil prices slipped on Tuesday, pressured as weak U.S. economic data dimmed crude's demand outlook, while reports of an output decline from the world's large oil producers in the third quarter kept prices from falling further.
Plan A : Remain sell if oil price remain trading below 54.9
Plan B : Exit above 55.4
Plan C : Consider buying only if oil price manage to stabilize above 53.9
Plan D : Cut below 53.0
Gold
Gold rose on Tuesday, reversing course from earlier in the session, when it touched a near two-month low, as the dollar pared gains after weak U.S. manufacturing data bolstered bets for another interest rate cut by the U.S. Federal Reserve.
Plan A : Attempt buy if gold price able to stay firm above 1479.2
Plan B : Cut below 1472
Plan C : Consider selling if gold price fails to hold above 1479.2
Plan D : Cut above 1487
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.