Where Futures Lies
Daily Futures Trading Strategy 8 July 2019
FUTURESCOIN IS GOING GLOBAL TODAY
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street’s main indexes were set to open lower on Friday after a strong rebound in U.S. job growth in June dashed hopes of an aggressive interest rate cut by the Federal Reserve this month.
The closely watched employment report led investors to scale back bets of a 50 basis point rate cut by the central bank at its policy meeting on July 30-31.
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Plan A : Continue to long as long as market stays above 26922
Plan B : Cut below 26892. Targets at 26955 & 26985
Plan C : Consider to short if market breaks below 26922
Plan D : Cut above 26950. Targets at 26888 and 26840
E-Mini S&P 500
Last Friday, the U.S. jobs report showed the economy stateside adding 224,000 jobs in June, well above the forecast number of 165,000 jobs by economists in a Dow Jones survey. That came following a dismal jobs print in May.
However, the market didn't seem impressed. The S&P 500 Index was down 0.35% at 2,985 at 12:45 PM ET.
Stocks in Asia were lower on Monday morning trade after a strong jobs report last Friday stateside moderated expectations that the U.S. Federal Reserve could soon be making a move on interest rates.
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Plan A : Buy if market supported firm above 2975.50. Targets are 2990.50 and 3005.5.
Entry tips : Above 2980.00, do not enter.
Plan B : Sell if market rebounded but failed to support above 2992.75. Targets are 2980.50 and 2960.25.
Entry tips : Below 2987.75, do not enter.
E-Mini Nasdaq
Friday's session closes with the Nasdaq Composite Index at 8,161.79. The total shares traded for the Nasdaq was over 1.61 billion.
The Nasdaq 100 Index closed down -0.21% for the day; a total of -16.39 points. The current value is 7,841.3. Electronic Arts Inc. (EA) had the largest percent change down (-4.6%) while Western Digital Corporation (WDC) had the largest percent change gain rising 1.21%.
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Plan A : Buy only if market supported firm above 7825.50. Targets are 7853.00 and 7872.25.
Entry tips : Above 7835.50, do not enter.
Plan B : Sell if market rebounded but failed to support above 7872.25. Targets are 7852.50 and 7825.50.
Entry tips : Below 7862.75, do not enter.
HSI/HSI Warrants
The Hong Kong stock market fell slightly on Friday, amid thin trade, ahead of the release of U.S. non-farm payrolls data, which could stoke or temper market expectations about an aggressive policy easing by the Federal Reserve.
At the close of trade, the Hang Seng index was down by less than 0.1% at 28,774.83, and up 0.8% week-on-week. The Hang Seng China Enterprises index, which fell 0.2% on the day, posted weekly gains of 0.1%.
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Plan A : Above 28901, do nothing
Plan B : Below 28563, do nothing
Plan C : Attempt buying if market trades firmly above 28684
Plan D : Cut below 28616
Plan E : Consider selling if market does not breach above 28834
Plan F : Cut above 28901
WTI Crude
Oil prices climbed on Friday, supported by tensions over Iran and a decision by OPEC and its allies to extend an output supply line cut deal until next year, but mixed economic data limited the rally.
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Plan A : Attempt buying if oil price trades firmly above 57.1
Plan B : Cut below 56.3
Plan C : Consider selling if oil price surges but fails to breach above 58.8
Plan D : Cut above 59.9
Gold
Gold slid as much as 2% on Friday and was set for its first weekly fall in seven weeks after data showed U.S. jobs growth rebounded strongly in June, which lowered the likelihood of an interest rate cut by the Federal Reserve this month.
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Plan A : Attempt buying if gold price manage to hold firm above 1392
Plan B : Cut below 1386
Plan C : Consider selling if gold price rebounds but fails to breach above 1402
Plan D : Cut above 1409
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....
