Where Futures Lies
Daily Futures Trading Strategy 1 August 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. stocks were set to open higher on Wednesday, as concerns over the impact of the U.S.-China trade war eased after Apple’s upbeat earnings report, while investors awaited an almost certain cut in interest rates by the Federal Reserve.
Wall Street’s main indexes have had a strong run since a steep selloff in May, with the S&P 500 index now up 20% for the year on hopes that a modest rate cut would help combat slowing growth and boost tame inflation.
At 8:38 a.m. ET, Dow e-minis were up 79 points, or 0.29%.
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Plan A : Continue to short if market stays below 26916
Plan B : Cut above 26930. Targets at 26882, 26851 & 26822
Plan C : Attempt to long if market tested and rebounds from 26790
Plan D : Cut above 26760.Targets at 26820 & 26850
E-Mini S&P 500
The S&P 500 chalked up its biggest one-day drop in two months after Federal Reserve chairman Jerome Powell warned the rate cut the central bank delivered today would not be the start of a prolonged rate-cutting cycle. After a somewhat muted response to the Fed's first rate cut since the financial crisis, stocks unambiguously turned south and shorter-term Treasuries sold off as investors tried to make sense of the Fed's chairman's message.
The S&P 500 finished 1.1% lower at 2980.38, its biggest one-day drop since May 31 and a slight recovery from a fall of as much as 1.6% during the afternoon session.
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Plan A : Sell if market failed to support above 2993.25. Targets are 2978.50, 2966.75 and 2957.25.
Entry tip : Below 2986.75, do not enter.
Plan B : Buy only if market supported firm above 2993.25. Targets are 3006.75, 3015.25 and 3024.25.
Entry tip : Above 3003.25, do not enter.
E-Mini Nasdaq
Stocks dropped on Wednesday as Federal Reserve Chairman Jerome Powell dampened hopes for further rate cuts later this year.
The Nasdaq Composite fell 1.2% to 8175.42. The Nasdaq had its biggest one-day drop since late June.
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Plan A : Sell if market failed to support above 7910.25. Targets are 7870.75, 7838.75 and 7812.25.
Entry tip : Below 7895.75, do not enter.
Plan B : Buy only if market supported above 7910.25. Targets are 7951.75, 7980.25 and 8005.75.
Entry tip : Above 7925.75, do not enter.
Hang Seng / HSI Warrant
Hong Kong’s private home prices fell for the first time in six months in June as consumer confidence was shaken by prolonged Sino-U.S. trade tensions and growing social unrest at home.
China stock market dropped on Wednesday after a warning from U.S. President Donald Trump to China as bilateral trade talks were underway, while Beijing’s less accommodative tone on the property market dented sentiment, sending real estate shares down.
The Hang Seng Index was down 1.1% at 27,833.04, its lowest level since June 11.
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Plan A : Above 27990, do nothing
Plan B : Below 27544, do nothing
Plan C : Attempt selling if market resisted around 27910
Plan D : Cut above 27990
Plan E : Consider buying only if market tested and rebounds from 27586
Plan F : Cut below 27501
WTI Crude
Oil prices rose for a fifth day on Wednesday following a larger-than-expected drop in U.S. inventories and after the Federal Reserve cut U.S. interest rates for the first time in more than a decade.
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Plan A : Remain buy as long as oil price stays above 57.4
Plan B : Cut below 56.3
Plan C : Consider selling if oil price fails to hold above 57.4
Plan D : Cut above 58.0
Gold
Gold prices fell on Wednesday after the U.S. Federal Reserve cut interest rates for the first time since 2008, as market priced in the move and a lack of dovish outlook failed to cheer investors.
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Plan A : Attempt selling if gold price stays below 1416.8
Plan B : Cut above 1424.7
Plan C : Consider buying only if gold price tested support at 1402 and rebound
Plan D : Cut below 1400
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
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....
