• MTS Futures News_PM_20200218

    18 Feb 2020 | SET News

· SP 500 Price Forecast – Stock Markets Continue To Grind Higher

The S&P 500 has rallied a bit during the trading session on Monday, although it was in limited electronic trading in the Globex markets. Ultimately, the stock markets in America look very healthy and they do look like they are going to go to the upside. Pullbacks at this point should be a buying opportunity as there are plenty of support underneath, especially near the 335 level, and then possibly the 3300 level. The uptrend line underneath should continue to offer an opportunity to cause support as well, but at this point the 50 day EMA is reaching towards the upside and I think it’s likely to continue to cause reactions as well.

All things being equal, the market is likely to continue to see a lot of volatility and we are a bit overextended but at the end of the day the central banks continue to inflate the markets, as they keep the markets liquefied with cheap monetary policy. All things being equal, this is a market that you should be looking for value in and not thinking about shorting. The 3500 level above is what I had as a target for this year, but quite frankly it looks as if we are going to get there rather rapidly. This could be yet another explosive year in the S&P 500, which is a bit surprising, but at the end of the day you can’t fight the market, and you certainly can’t fight the Fed. Look for value and take advantage of it.

· Asian shares fell and Wall Street was poised to retreat from record highs on Tuesday after Apple Inc (AAPL.O) said it would miss its March quarter revenue guidance as the coronavirus slowed production and weakened demand in China.

The warning from the most valuable U.S. company sobered investor optimism that stimulus from China and other countries would protect the global economy from the effects of the epidemic.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 1.0%, while Tokyo's Nikkei .N225 slid 1.4%, dragged down by tech stocks.

· Japanese shares fell on Tuesday, with the broad Topix index finishing at its weakest in nearly four months, as investors sold tech firms after Apple Inc warned it will likely miss quarterly revenue targets due to the coronavirus outbreak.

The benchmark Nikkei average fell 1.4% to a two-week low of 23,193.80, while the Topix index dropped 1.3% to 1,665.71, its lowest close since late October.

· China’s blue-chip stocks ended lower on Tuesday as Apple warned that it was unlikely to meet its March quarter sales forecast as the coronavirus slowed production and weakened demand in China.

The blue-chip CSI300 index closed 0.5% lower, with its financial sector sub-index shedding 1%. The Shanghai Composite index was flat at 2,984.97.

Manufacturing facilities in China that produce Apple’s iPhone and other electronics have begun to reopen, but they are ramping up more slowly than expected, Apple said. That will mean fewer iPhones available for sale around the world.

· European stocks tumbled on Tuesday morning following a weak handover from Asia, as Apple’s revenue guidance warning rocks electronics supplier shares and coronavirus fears persist.

The pan-European Stoxx 600 fell by 0.8% in early trade, with tech stocks shedding 1.6% to lead losses as all sectors entered negative territory.

Reference: CNBC,Reuters, Yahoo Finance

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