The Hang Seng index fell 1.8%, to 26,820.88. Investor confidence took a hit after South Korea put the country on high alert as the number of infections jumped to over 700 and deaths rose to seven.

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WTI Crude

Oil slid more than 5% at its session low on Monday, falling into bear market territory as the number of coronavirus cases outside of China surged.

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Plan A : Attempt buy if oil price stays firm above 51.4

Plan B : Cut below 51.0

Plan C : Consider selling if oil price rebounds but fails to stay firm above 51.64

Plan D : Cut above 51.80

Gold

Gold soared as much as 2.8% on Monday to its highest level in seven years, as investors worried about global economic growth in the face of sharply rising coronavirus spread outside China.

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Plan A : Attempt sell if gold price trades below 1667.8

Plan B : Cut above 1670

Plan C : Consider buying if gold price holds firm above 1642

Plan D : Cut below 1638

Stocks fell sharply on Monday as the number of coronavirus cases outside China surged, stoking fears of a prolonged global economic slowdown from the virus spreading.

The Dow closed -1,029.63 points lower, or 3.55%, at 27,962.78. The S&P 500 slid 3.35% to 3,225.89 while the Nasdaq Composite closed 3.71% lower at 9,221.28. It was the Dow’s biggest point and percentage-point drop since February 2018. The Dow also gave up its gain for 2020 and is now down 2% for the year. The S&P 500 also had its worst day in two years and wiped out its year-to-date gain as well.

Coronavirus-impacted names led the way lower. Airline stocks Delta and American were both down more than 6% while United closed 5.4% lower. Shares of casino operators Las Vegas Sands and Wynn Resorts dropped at least 5.2% each. MGM Resorts slid 5.4%.

Chipmakers, which are highly leveraged to the global economy, were also down broadly. Nvidia shares were down 7.1% while Dow-component Intel ended the day down 4%. AMD dipped 7.8%. The VanEck Vectors Semiconductor ETF (SMH) was down by 4.5%.

Plan A : Long if market supported firm above 3246.25. Targets are 3261.50, 3272.25 and 3279.75.

Plan B : Short if market failed to support above 3246.25. Targets are 3231.50, 3219.50 and 3209.75.

Stock futures bounced a bit on Monday evening following the market’s worst decline in two years on coronavirus fears.

As of 1:46 a.m. ET Tuesday, futures on the Dow Jones Industrial Average were up by 247 points, implying an opening gain of 269.2 points for the index on Tuesday. S&P 500 and Nasdaq futures also pointed to gains for the two indexes at the Tuesday open.

The projected gains came even as United Airlines and Mastercard warned about the potential impact the coronavirus will have on 2020 results after the bell. The shares added to their Monday regular session declines with United losing 0.6% and Mastercard dropping nearly 3% after hours.

Investors fled the stock market rapidly in Monday’s session as a surge in coronavirus cases outside of China intensified fears of a prolonged global economic slowdown. The Dow sank more than 1,000 points, suffering its biggest point and percentage drop since Feb. 2018. The S&P 500 plunged 3.3%, also the worst drop in two years. With Monday’s declines, the S&P 500 and the Dow both wiped out all of their 2020 gains.

Plan A : Long if market supported firm above 9149.25. Targets are 9171.25, 9193.25 and 9215.75.

Plan B : Short if market rebounded but failed to support above 9203.25. Targets are 9168.25, 9139.50 and 9100.50.  

HSI

Hong Kong stocks fell the most in four weeks on Monday, as a spike in coronavirus infections and deaths beyond mainland China eclipsed Beijing’s assurance to step up efforts to help cushion the blow to its economy.

Plan A : Long only if market does not break below 26125 and rebounds. Targets are 26200 & 26285.
Plan B : Continue to short if market stays below 26265. Targets are 26190 and 26105.