Nearly one in five S&P 500 companies have said China’s virulent coronavirus will impact their revenues or profits, underscoring the far-reaching toll the disease is expected to take on businesses around the world.

A CNBC analysis of more than 180 earnings transcripts and other corporate releases since the beginning of 2020 showed a high level of concern.

While most management teams that have warned of a revenue hit said they don’t expect any impact to full-year figures, many expect a drag in the first quarter.

Plan A : Short if market failed to support above 3362.50. Targets are 3345.25, 3336.50 and 3325.50.

Plan B : Long if market doesn't retrace much but supported firm above 3362.50. Targets are 3375.25, 3386.25 and 3398.50.

Stocks are likely to remain hostage to developments involving the coronavirus in the week ahead, and even so, the market could continue to hit new highs.

Economists have been reducing China’s growth outlook for the quarter, with some seeing little or no growth and then a bounce back in the high single digits next quarter. The U.S. economy is not expected to take a big hit, but the question for the stock market is how will corporate earnings be impacted.

Plan A : Short if market failed to support above 9568.25. Targets are 9528.50, 9498.25 and 9468.25.

Plan B : Long if market doesn't retrace much and supported firm above 9568.25. Targets are 9595.25, 9614.50 and 9628.25.

HSI

Hong Kong stocks rose to the highest level in almost four weeks on Monday as Beijing stepped up policy stimulus to cushion the economic impact from the corona-virus outbreak. 

The Hang Seng index closed up 0.5% at 27,959.60, after touching its highest level since Jan. 22.

Plan A : Above 28034, do nothing.
Plan B : Below 27650, do nothing.
Plan C : Consider to short if market does not breach above 28034.
Plan D : Cut above 28110.
Plan E : Attempt to long if market supported firm above 27775.
Plan F : Cut below 27650.