Where Futures Lies
Daily Futures Trading Strategy 4 July 2019
FUTURESCOIN IS GOING GLOBAL TODAY
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stock index futures edged higher on Wednesday, as benchmark bond yields tumbled on fears of a global recession and expectations of interest rate cuts by central banks.
Bond yields around the world slid as trade tensions continued to simmer despite the recent truce between the United States and China, with the nomination of IMF chief Christine Lagarde to head the European Central Bank adding to bets of monetary easing.
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Plan A : Continue to long as long as market stays above 26923
Plan B : Cut below 26893. Targets at 26960 & 26990
Plan C : Consider to short if market does not breach above 27000
Plan D : Cut above 27020. Targets at 26970 and 26930
E-Mini S&P 500
The Dow, S&P 500 and the Nasdaq all finished at a record high on Wednesday.
The S&P 500 rose 0.7% to 2,995.82 as the real estate and the consumer sectors powered the broad index to record levels. Tech also boosted the index, rising 0.7% to a record high. The S&P 500 closed just 0.1% below 3000.
The stock market closed at 1pm ET on Wednesday ahead of the Independence Day holiday on Thursday. Market will be closed on July 4.
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Plan A : Sell if market failed to support above 2993.75. Targets are 2985.75 and 2977.75.
Entry tips : Below 2988.25, do not enter.
Plan B : Buy if market supported firm above 2993.75. Targets are 3001.25 and 3009.75.
Entry tips : Above 2998.75, do not enter.
E-Mini Nasdaq
The stocks closed at record highs on Wednesday as investors bet on a potential rate cut from the
Federal Reserve later this month after the release of the weaker-then-expected economic data. Nasdaq advanced 0.7% to 8170.23.
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Plan A : Sell if market failed to support above 7879.75. Targets are 7859.25 and 7839.00.
Entry tips : Below 2569.75, do not enter.
Plan B : Buy if market supported firm above 7879.75. Targets are 7899 and 7919.
Entry tips : Above 7889.75, do not enter.
HSI/HSI Warrants
Hong Kong shares ended weaker on Wednesday as investors reconsidered their initial enthusiasm over a truce in trade dispute between Washington and Beijing, while fresh data pointed to further weakness in the Chinese economy.
At the close of trade, the Hang Seng index was down 20.42 points or 0.07% at 28,855.14.
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Plan A : Above 29111, do nothing
Plan B : Below 28676, do nothing
Plan C : Attempt buying if market trades firmly above 28841
Plan D : Cut below 28766
Plan E : Consider selling if market does not breach above 29111
Plan F : Cut above 29200
WTI Crude
Oil prices edged higher on Wednesday ahead of a U.S. holiday, after falling steeply a day earlier as worries about a slowing global economy outweighed a decision by OPEC and allies to extend crude output cuts.
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Plan A : Attempt buying if oil price stays above 56.3
Plan B : Cut below 55.7
Plan C : Consider selling if oil price fails to breach and stays firm above 57.7
Plan D : Cut above 58.2
Gold
Gold steadied on Wednesday, paring gains from earlier in the session as a rally in equities took some shine off the non-yielding metal, while global growth concerns and bets for dovish monetary policy kept bullion supported.
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Plan A : Attempt long if gold price trades firmly above 1416.8
Plan B : Cut below 1411.9
Plan C : Consider selling if gold price fails to hold above 1416.8
Plan D : Cut above 1424.6
Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, CNN, Market Watch and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
