FUTURESCOIN IS GOING GLOBAL
E-Mini Dow
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Stocks closed slightly higher on Thursday as traders increased their exposure to major tech names amid a rising number of coronavirus cases.
The Dow gained 44.81 points, or 0.2%, to close at 29,483.23. Earlier in the day, the Dow fell more than 200 points. The S&P 500 climbed 0.4% to 3,581.87 and the Nasdaq Composite advanced 0.9% to 11,904.71. It was the first gain for the major averages in three sessions.
Stocks also got a boost after Senate Minority Leader Chuck Schumer, D-NY, said Majority Leader Mitch McConnell, R-KY, had agreed to resume negotiations on new fiscal stimulus.
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Plan A : Short if market failed to support above 3557. Targets are 3532, 3505 and 3479.
Plan B : Long if market doesn't retrace much but supported firm above 3557. Targets are 3572, 3589 and 3605.
Stocks futures fell in overnight trading on Thursday as rising new coronavirus cases cast doubt on a swift economic recovery.
Netflix and Amazon gained 0.6% and 0.4%, respectively. Alphabet rose 1%, and Microsoft closed higher by 0.6%. Apple rose 0.5% and Facebook ended the day up 0.4%.
Also weighing on sentiment was a disagreement between the Treasury Department and the Federal Reserve over the continuation of funding for some of the emergency programs implemented during the recession.
The market’s rally to records slowed down in recent days as more immediate concerns about the worsening pandemic overshadowed optimism toward a viable vaccine.
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Plan A : Long if market doesn't retrace much and supported firm above 11959. Targets are 11989, 12021 and 12055.
Plan B : Short if market failed to support above 11959. Targets are 11918, 11875 and 11831.
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Plan A : Remain buy as long as market stays firm above 26238 . Targets are 26449 and 26509.
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Plan A : Remain buy as long as oil price trades firmly above 40.9. Targets are 41.5 and 42.2
Plan A : Remain sell as long as gold price stays below 1885. Targets are 1876 and 1854.
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