FUTURESCOIN IS GOING GLOBAL
The S&P 500 is forming a “double top” going into the U.S. election, which is a worrying sign for investors, according to veteran investor Mark Mobius.
Wall Street also pored through the latest batch of corporate earnings for the previous quarter, including those of tech giant Microsoft.
Microsoft reported better-than-expected earnings and revenue for the previous quarter as sales from its cloud business grew sharply. However, the stock dipped 0.3% in after-hours trading.
First Solar also posted quarterly numbers that beat analyst expectations, sending its shares up about 10% after the bell. Boeing, General Electric, UPS and Fiat Chrysler are among the companies set to report Wednesday before the bell.
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Plan A : Long if market doesn't retrace much and supported firm above 3369. Targets are 3384, 3400 and 3418.
Plan B : Short if market failed to support above 3369. Targets are 3340, 3321 and 3294.
U.S. stock futures fell early Wednesday morning following a mixed session in which traders weighed a recent uptick in coronavirus infections.
The Dow fell more than 200 points during regular trading and the S&P 500 slipped 0.3%. The Nasdaq Composite, meanwhile, advanced 0.6%. Tuesday’s divergent market action came as names that would benefit from people staying at home — such as Amazon and Zoom Video — rose broadly while stocks dependent on the economy reopening declined.
Daily U.S. coronavirus cases have risen by a record average of 69,967 over the past week, data compiled by Johns Hopkins University showed. Meanwhile, coronavirus-related hospitalizations are up 5% or more in 36 states, according to data from the Covid Tracking Project.
This uptick has led some countries to reinstate certain lockdown measures. In the U.S., the state of Illinois has ordered Chicago to shut down indoor dining.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for November subscription.
Plan A : Long if market doesn't retrace much and supported firm above 11452. Targets are 11480, 11512 and 11540.
Plan B : Short if market failed to support above 11452. Targets are 11418, 11379 and 11335.
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