Where Futures Lies
Daily Futures Trading Strategy 26 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 struggled for direction on Thursday as a clutch of earnings reports again pointed to a slowing global economy, while holding up in the face of already reduced expectations.
At 6:59 a.m. ET, Dow e-minis were up 57 points, or 0.21%.
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Plan A : Attempt to long if market rebounds from 27122
Plan B : Cut below 27098.Targets at 27150 & 27188
Plan C : Consider to short if market stays below 27152
Plan D : Cut above 27188.Targets at 27121 & 27090
E-Mini S&P 500
Stocks fell on Thursday as investors worried that the Federal Reserve will not be as dovish as expected in its monetary policy announcement next week following strong economic data and remarks from the top European Central Bank official. The S&P 500 pulled back 0.5% to close at 3003.67.
The second-quarter earnings season has continued to get worse as more companies report results, increasing the likelihood of the first earnings recession in three years. After 185 of the 505 companies in the S&P 500 reported second-quarter results, the aggregate year-over-year decline for earnings per share is now 3.49%, according to FactSet, compared with a 3.11% decline on Wednesday after 26.5% of S&P 500 companies reported.
GDP for the quarter ended June 30 is scheduled to be released at 8:30 a.m. ET Friday, and is expected to come in at 1.8%, according to economists surveyed in CNBC/Moody's Analytics Rapid Update. Economists surveyed by Refinitiv also expect 1.8% growth, but the Dow Jones consensus forecast is 2%.
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Plan A : Sell if market failed to support above 3012.75. Targets are 2996.5 and 2989.75.
Entry tips : Below 3007.50, do not enter.
Plan B : Buy only if market retraced but supported firm above 2998.50. Targets are 3008.00 and 3015.50.
Entry tips : Above 3003.75, do not enter.
E-Mini Nasdaq
Wall Street ended Thursday's session lower. The Nasdaq Composite lagged, sliding 1% to 8238.54. The total shares traded for the Nasdaq was over 2 billion. Align Technology Inc. had the largest percent change down, -26.99% while Netflix Inc., (NFLX) had the largest percent change gain rising 2.68%
U.S. stock index futures moved higher on Friday morning as traders digested corporate earnings, looked ahead to fresh data and weighed the possibility of a less dovish tone from the Federal Reserve next week.
Asian shares were lower on Friday as investors continued to watch the brewing trade conflict between China and the U.S., and any signs of what's in store from central banks.
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Plan A : Sell if market failed to support above 8007.75. Targets are 7969.75, 7939.25 and 7895.50.
Entry tips : Below 7992.50, do not enter.
Plan B : Buy if market retraced but supported firm above 7959.25. Targets are 8001.25, 8029.75 and 8055.25.
Entry tips : Above 7974.25, do not enter.
Hang Seng / HSI Warrant
Hong Kong stocks ended higher, led by information technology firms tracking a tech rally on the Wall Street, even as investors cheered some headway in Sino-U.S. trade negotiations.
The Hang Seng index rose 0.3% to 28,594.30, while the China Enterprises Index gained 0.7% to 10,930.36.
Top U.S. and Chinese negotiators will meet face-to-face next week for the first time since Presidents Donald Trump and Xi Jinping agreed to revive talks to end their year-long trade war.
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Plan A : Above 28644, do nothing
Plan B : Below 28277, do nothing
Plan C : Attempt selling if market stays below 28580
Plan D : Cut above 28644
Plan E : Consider buying if market trades firmly above 28326
Plan F : Cut below 28251
WTI Crude
Oil prices rose on Thursday amid Middle East tensions and a big fall in U.S. crude stocks, but gains were capped as weak Western manufacturing data indicated slowing economic growth and in turn the potential for reduced fuel demand.
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Plan A : Attempt selling if oil price stays below 56.3
Plan B : Cut above 57.0
Plan C : Consider buying if oil price breach and stays firm above 56.3
Plan D : Cut below 55.8
Gold
Gold eased off a one-week peak on Thursday as robust U.S. economic data outweighed the European Central Bank's decision to hew to an accommodative monetary policy, with investors focus on next week's Federal Reserve meeting.
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Plan A : Remain buy as long as gold price stays above 1416.8
Plan B : Cut below 1414.1
Plan C : Consider selling only if gold price surges but fails to breach above 1426.6
Plan D : Cut above 1430
Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com 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
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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....
