Where Futures Lies
Daily Futures Trading Strategy 10 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 futures fell on Tuesday as investors worried over a hit to earnings from the prolonged U.S.-China trade war and receding hopes of a sharp rate cut by the Federal Reserve later this month.
Focus this week will be on the Fed chief Jerome Powell’s remarks at his two-day testimony before the Congress, starting Wednesday. Also due on Wednesday is the central bank’s June policy meeting minutes.
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Plan A : Attempt to short as long as market stays below 26809
Plan B : Cut above 26840. Targets at 26775 & 26720
Plan C : Consider to long if market stays firm above 26735
Plan D : Cut below 26700. Targets at 26775 & 26810
E-Mini S&P 500
The Nasdaq Composite and S&P 500 rose as Facebook and Amazon shares gained more than 1% each. Netflix shares also added to the indexes gains. S&P rose 0.1% to 2,979.63.
The U.S. and China resumed trade talks over the phone. Fed Chair Jerome Powell is scheduled to testify in front of the House Financial Services Committee on Wednesday. This comes just after a stronger-than-expected jobs report raised questions about the central bank's rate policy.
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Plan A : Buy if market supported firm above 2979.50. Targets are 2991.75 and 3012.25.
Entry : Above 2984.50, do not enter.
Plan B : Sell if market failed to support above 2979.50. Targets are 2971.50 and 2960.25.
Entry : 2975.50, do not enter.
E-Mini Nasdaq
The Dow Jones Industrial Average closed lower for a third day, while the S&P 500 and Nasdaq Composite finished in a positive territory on Tuesday.
The Nasdaq Composite and S&P 500 rose as Facebook and Amazon shares gained more than 1% each. Netflix shares also added to the indexes gains. The Nasdaq gained 0.5% to close at 8,141.73.
Stocks in Asia mostly edged up on Wednesday afternoon trade as investors await comments from U.S. Federal Reserve Chairman Jerome Powell for possible clues on the central bank's next move on interest rates.
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Plan A : Sell if market failed to support above 7827.00. Targets are 7797.25 and 7767.75.
Entry : Below 7812, do not enter.
Plan B : Buy if market supported firm above 7827.00. Targets are 7857.25 and 7887.75.
Entry : Above 7842, do not enter.
HSI/HSI Warrants
Hong Kong stocks fell for the fourth day in a row on Tuesday, tracking weakness in global markets, as hopes of a deep rate cut by the Federal Reserve faded.
The Hang Seng index fell 0.8%, to 28,116.28, while the China Enterprises Index lost 0.7%, to 10,650.63.
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Plan A : Above 28375, do nothing
Plan B : Below 27749, do nothing
Plan C : Consider selling if market does not breach above 28375
Plan D : Cut above 28450
Plan E : Attempt buying if market declines but still supported above 28142
Plan F : Cut below 28060
WTI Crude
Oil futures edged up on Tuesday as OPEC supply cuts and Middle East tensions kept global benchmark Brent crude above $64 a barrel, while gains were limited by the U.S.-China trade dispute that has dragged on the global economy and crimped oil demand.
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Plan A : Remain buy as long as oil price stays firm above 57.8
Plan B : Cut below 56.3
Plan C : Consider selling if oil price surges but fails to breach above 59.1
Plan D : Cut above 59.9
Gold
Gold fell to a one-week low on Tuesday as the U.S. dollar rallied on expectations of a less aggressive interest rate cut by the Federal Reserve this month, while investors awaited Fed Chair Jerome Powell's testimony on monetary policy.
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Plan A : Attempt selling if gold price remain trading below 1400
Plan B : Cut above 1407.6
Plan C : Consider buying only if gold price tested support at 1381.3 and rebound
Plan D : Cut below 1378
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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