Where Futures Lies
Daily Futures Trading Strategy 23 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 rose slightly on Monday as investors geared up for a busy week of corporate earnings, with results from major companies including Facebook and Amazon on tap.
Second-quarter earnings started off on a dour note last week as major banks reported results, which raised concerns about their profit growth in a low interest rate environment.
The main indexes ended the week lower for the first time in three weeks as hopes of a steep 50 basis points rate cut at the Federal Reserve’s policy-setting meeting on July 30-31 were scaled down following a Wall Street Journal report.
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Plan A : Consider long if market sustain firm above 27166
Plan B : Cut below 27130. Targets at 27201 & 27245
Plan C : Consider to short if market falls below 27163
Plan D : Cut above 27201. Targets at 27115 & 27080
E-Mini S&P 500
The S&P 500 climbed toward a record high on Monday, gained 0.28% to 2985.02, supported by expectations of lower interest rates, while investors awaited quarterly earnings from marquee companies Facebook, Alphabet and Amazon later this week.
About 30% of S&P 500 companies are set to report second-quarter results this week, with overall profits now estimated to rise about 1%, according to Refinitiv IBES data.
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Plan A : Buy if market supported above 2987.50. Targets are 3005.25 and 3013.50.
Entry tips : Above 2995.00, do not enter.
Plan B : Sell if market failed to support above 2987.50. Targets are 2975.50 and 2962.50.
Entry tips : Above 2979.25, do not enter.
E-Mini Nasdaq
Monday's session closed with the Nasdaq Composite Index at 8204.14. The total shares traded for the Nasdaq was over 1.92 billion. Declining stocks led advancers by 1.17 to 1 ratio.
Semiconductor component Intel (INTC) gave the Nasdaq Component Index the biggest upside result in today's stock market. The tech-centered composite rallied 0.7%, at one point rising nearly 0.9%.
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Plan A : Buy if market supported above 7939.25. Targets are 7976.50 and 8009.25.Entry tips : Above 7954.25, do not enter.
Plan B : Sell if market failed to support above 7939.25. Targets are 7900.75 and 7875.25.
Entry tips : Below 7924.75, do not enter.
Hang Seng / HSI Warrant
Hong Kong stocks ended lower on Monday, tracking a global retreat as expectations for an aggressive interest rate cut by the U.S. Federal Reserve at its next meeting were dialled back.
The Hang Seng index closed 1.4% lower at 28,371.26, while the China Enterprises Index ended down 1.3% at 10,770.31 points.
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Plan A : Above 28591, do nothing
Plan B : Below 28150, do nothing
Plan C : Attempt selling if market trades resiliently below 28468
Plan D : Cut above 28591
Plan E : Consider buying if market declines but still stands firm above 28225
Plan F : Cut below 28150
WTI Crude
Oil prices rose more than 1% on Monday, as investors worried about possible supply disruptions in the energy-rich Middle East after Iran's seizure of British tanker last week.
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Plan A : Attempt buying if oil price trades firmly above 56.06
Plan B : Cut below 55.8
Plan C : Consider selling if oil price stays below 56.06
Plan D : Cut above 57.04
Gold
Gold prices steadied on Monday, after a sharp fall in the previous session, as investors waited for a decision from U.S. Federal Reserve on interest rates at its month-end meeting.
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Plan A : Remain buy as long as gold price stays firm above 1416.8
Plan B : Cut below 1414.2
Plan C : Consider selling if gold price fails to breach above 1430
Plan D : Cut above 1434
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....
