Plan B : Long if market doesn't retrace much but supported firm above 9498.25. Targets are 9525.25, 9548.75 and 9563.25

Hong Kong shares extended losses on Monday, as the rising severity of the coronavirus outbreak in mainland China, where it has killed more than 900 people, fanned fears of a slowdown in global economic growth.

At the close of trade, the Hang Seng index was down 0.6% at 27,241.34, falling for a second straight session.

Plan A : Above 27417, do nothing.
Plan B : Below 26795, do nothing.
Plan C : Consider to short if market does not breach above 27323.
Plan D : Cut above 27417.
Plan E : Attempt to long if market supported firm above 26941.
Plan F : Cut below 26865.

Stocks rose on Monday, rebounding from a decline earlier in the day, led by solid gains in tech shares such as Amazon.

The Dow Jones Industrial Average gained 174.31 points, or 0.6%, to close at 29,276.82 after dropping more than 100 points to start off the session. The S&P 500 advanced 0.73% to 3,352.09 while the Nasdaq Composite gained 1.13% to end the day at 9,628.39. Both the S&P 500 and Nasdaq reached all-time highs, boosted by a 2.6% jump in Amazon shares, as investors looked past the potential economic impact from the deadly coronavirus. Monday’s climb brought the S&P 500 and Nasdaq’s year-to-date gains to 3.7% and 7.3%, respectively.

Amazon rose 2.6% to a record high, breaking above $2,100 per share for the first time. Netflix and Alphabet both closed more than 1% higher while Facebook eked out a gain. Tesla, meanwhile gained more than 3% in another volatile session for the electric car maker. Boeing was the best-performing Dow stock, closing 2% higher. Microsoft, Visa and Cisco Systems added to the 30-stock average’s gains, advancing more than 1% each. 

The major averages were coming off their first loss in five sessions, with the Dow falling more than 200 points on Friday. Mounting concerns over how  the coronavirus would impact China’s economy, the second-largest in the world, pressured stocks. Despite Friday’s losses, Wall Street logged in its biggest weekly gain since June as the S&P 500 jumped 3.2%. Strong economic data along with solid corporate earnings reports fueled the market’s weekly surge.

Plan A : Short if market failed to support above 3343.25. Targets are 3328.25, 3315.50 and 3304.75.
Plan B : Long if market retraced but supported firm above 3323.50. Targets are 3335.25, 3346.50 and 3358.75.

U.S. stock index futures are pointing to a higher open on Wall Street Tuesday as stocks look to continue Monday’s rally.
 

At around 2:30 a.m. ET, Dow futures were up 57 points and indicated an implied positive open of more than 70 points, while futures on the S&P 500 and Nasdaq were also higher.

Investors continue to monitor news on the coronavirus outbreak, after China’s National Health Commission on Monday night said the death toll had risen to 1,016 people with 42,638 confirmed cases.

President Donald Trump unveiled his $4.8 trillion budget plan for the coming fiscal year on Monday, drawing rebukes from congressional Democrats over its plan to cut Medicare, Medicaid and Social Security despite the president’s repeated promises to protect them.

The budget proposed $150 million to create a U.S. uranium reserve in order to aid ailing producers, along with a $25.2 billion budget for NASA, the agency’s largest in decades.

Fourth-quarter and full-year earnings remain in focus, with Hasbro and Under Armour among those reporting before the bell on Tuesday, while numbers are due out of Lyft and Western Union after the close of trading.

On the data front, January NFIB business optimism figures are expected at 6:00 a.m. ET and JOLTS job openings for December are due at 10:00 a.m. ET.

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Plan A : Short if market failed to support above 9514.25. Targets are 9478.25, 9447.25 and 9418.50.

HSI