Where Futures Lies
Daily Futures Trading Strategy 18 July 2019
FUTURESCOIN IS GOING GLOBAL TODAY
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Worries about the balance of monetary policy and growth kept U.S. stock futures flat on Wednesday, subduing the impact of solid results from Bank of America and a boost for chipmakers from Dutch company ASML.
U.S. stock markets have been trending higher since a sharp fall in May that cast doubt on the fate of a decade-long bull market. Expectations of monetary easing have powered those gains, but a fall in markets last week reflected concerns that global growth outlook may not justify forecasts of several rate cuts by the end of this year.
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Plan A : Continue to hold short as long as market stays below 27229
Plan B : Cut above 27259. Targets at 27150 & 27105
Plan C : Consider to long if rebounds from 27135
Plan D : Cut below 27101. Targets at 27170 & 27220
E-Mini S&P 500
Stocks finished lower on Wednesday, ending in the red for the second day in a row after trade worries bubbled back to the surface. The S&P 500 closed down 0.7% to 2984.42. It was the worst one-day percentage drop in more than three weeks for the S&P, according to Refinitiv.
The S&P 500 has soared in 2019, with the index up nearly 20% since the start of the year. It hit an all-time intraday high at 3017.80, and record close of 3014.30 on Monday.
The S&P 500's performance so far this year has an "uncanny" resemblance to the index's showing in 1998, and if history is any guide, the rest of the year could be a roller coaster for stocks.
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Plan A : Buy if market supported firm above 2983.50. Targets are 2998.75 and 3013.25.
Entry tips : Above 1990.5, do not enter.
Plan B : Sell if market failed to support above 2983.50. Targets are 2969.25 and 2950.75.
Entry tips : Below 2976.00, d not enter.
E-Mini Nasdaq
It was another mixed trading session on Wednesday, as investors digest a bevy of bank earnings before turning their eyes to different industries and sectors in the coming days and weeks. The tech-heavy Nasdaq Composite was down 37.6 points at 8185.21.
The Nasdaq 100 closed Wednesday trading -0.48% lower after mixed results from a few large corporations like Bank of America and United Airlines weighed on earnings season sentiment.
On top of the varied reports, President Trump warned tariff hikes are on the table-rattling investor confidence. Heading into Thursday's session, the Nasdaq 100 is likely due for a continuation lower after disappointing earnings from Netflix.
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Plan A : Buy if market supported firm above 7829.00. Targets are 7869.25 and 7899.75.
Entry tips : Above 7845.00, do not enter.
Plan B : Sell if market failed to support above 7829.00. Targets are 7789.25 and 7759.00.
Entry tips : Below 7814.25, do not enter.
Hang Seng / HSI Warrant
Shares in Hong Kong slipped on Wednesday, echoing the subdued mood of regional markets, as global investors waited for more U.S. corporate results and as worries over trade and slowing growth continued to drag on sentiment.
At the close of trade, the Hang Seng index was down 26.45 points, or 0.09%, at 28,593.17. The Hang Seng China Enterprises index fell 0.16% to 10,847.91.
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Plan A : Above 28597, do nothing
Plan B : Below 28223, do nothing
Plan C : Attempt selling if market trades resiliently below 28505
Plan D : Cut above 28597
Plan E : Consider buying if market tested and rebounds from 28422
Plan F : Cut below 28342
WTI Crude
Oil futures fell on Wednesday, extending a more than 3% drop in prices the previous session, after U.S. government data showed large builds in refined product stockpiles.
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Plan A : Attempt selling if oil price remain trading below 58.1
Plan B : Cut above 58.6
Plan C : Consider buying if oil price holds firm above 56.3
Plan D : Cut below 55.5
Gold
Hedge fund kingpin Ray Dalio is seeing a case for gold as central banks get more aggressive with policies that devalue currencies and are about to cause a "paradigm shift" in investing. The price of gold jumped higher on Wednesday amid Dalio's publishing of post.
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Plan A : Remain buying as long as gold price stays above 1416.8
Plan B : Cut below 1410
Plan C : Consider selling only if gold price surges but fails to breach above 1430
Plan D : Cut above 1437
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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Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
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....
