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E-Mini Dow

Wall Street was set to open lower on Friday after a sharp escalation in U.S.-China trade tensions and tepid job growth in July reinforced fears of a global economic slowdown. 

The sudden escalation in the trade rhetoric comes after the Federal Reserve on Wednesday played down expectations of further aggressive monetary policy actions after cutting interest rates for the first time in a decade.

At 8:43 a.m. ET, Dow e-minis were down 87 points, or 0.33%.
 

Plan A : Continue to short if market stays below 26574
Plan B : Cut above 26604. Targets at 26535 & 26501
Plan C : Attempt to long if market stays firm and rebounds from 26436
Plan D : Cut below 26406.Targets at 26470 & 26500

E-Mini S&P 500

Stocks fell on Friday as President Donald Trump stoked U.S.-China trade fears with the announcement of more tariffs while investors digested U.S. employment data. The S&P 500 lost 0.7% to end the day at 2932.05. The latest losses marked the fifth straight drop for the S&P 500 and the worst week of the year for the market just seven days after the benchmark index hit an all-time high.

China on Friday struck back, saying that it would take "necessary countermeasures" if Trump follows through on the new tariffs, which would kick in next month. 

The re-escalation in tensions between the world's largest economies has raised worries about a global recession. Investors have responded by selling stocks and buying gold and government bonds.

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Plan A : Buy if market retraced but supported well above 2879.50. Targets are 2894.25, 2904.50 and 2912.25.

Entry tip : Above 2887, do not enter.

Plan B : Sell if market failed to support above 2879.50. Targets are 2864.25, 2853.75 and 2845.00.

Entry tip : Below 2871.25, do not enter.

Plan C : Sell if market rebounded but failed to support above 2929.50. Targets are 2914.50, 2903.75 and 2893.25.
Entry tip : Below 2921.25, do not enter.

E-Mini Nasdaq

Investors rattled by US President Donald Trump's latest escalation in his trade war with China on Friday drove another round of selling on Wall Street. The major indexes dipped below their 50-day moving averages, key technical levels watched by investors. 

The Nasdaq dived 1.32%, -107 pts which brings the prices to 8004.07 for Friday close. The total shares traded was over 2.25 billion. Declining stocks led advancers by 2.2 to 1 ratio. 

Futures on Sunday evening pointed to a lower open for stocks stateside when they open on Monday. The moves came amid market turmoil in the Asian trading session on Monday, with Hang Seng dropping nearly 3% and Japan's Nikkei 225 falling more than 2.5%.

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Plan A : Buy if market supported firm above 7603.25. Targets are 7640.50, 7670.75 and 7800.25.

Entry tip : Above 7618.25, do not enter.

Plan B : Sell if market failed to support above 7603.25. Targets are 7565.25, 7535.25 and 7509.75.

Entry tip : Below 7588.25, do not enter.

Plan C : Sell if market rebounded but resisted around 7706.75. Targets are 7667.25, 7636.50 and 7610.25.

Entry tip : Below 7691.25, do not enter.