Where Futures Lies
Daily Futures Trading Strategy 21 August 2019
FUTURESCOIN IS GOING GLOBAL TODAY
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street looked set to open little changed on Tuesday after three days of gains, with a mixed bag of retail earnings keeping investors guessing about the health of U.S. consumer demand.
All eyes this week will be on Wednesday’s release of minutes from the Federal Reserve’s July policy meeting and Chair Jerome Powell’s speech on Friday at the Jackson Hole central bankers’ conference.
At 8:45 a.m. ET, Dow e-minis were up 14 points, or 0.05%
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Plan A : Attempt to go long if market does not break below 25930
Plan B : Cut below 25899. Targets seen at 25965 & 25999.
Plan C : Consider selling if market stays trading below 25983
Plan D : Cut above 26018. Targets seen at 25948, 25913 & 25870.
E-Mini S&P 500
The Dow fell for the first time in four days on Tuesday as the market digested its recent swings, with the S&P 500 and Nasdaq Composite also ticking lower.
The move leaves investors and experts broadly uncertain about what 's next for global markets, with key Federal Reserve announcements set for this week and U.S.-China trade talks still ahead.
U.S. stock index futures moved higher on Wednesday morning. At around 3.30am ET, Dow futures rose 91 points, indicating a positive open of more than 63 points. Futures on the S&P and Nasdaq were also higher.
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Plan A : Buy if market retraced but supported above 2902.25. Targets are 2917.75, 2928.25 and 2936.75.
Entry : Above 2910.50, do not enter.
Plan B : Sell if market failed to support above 2902.25. Targets are 2887.75, 2876.50 and 2865.25.
Entry : Below 2894.25, do not enter.
E-Mini Nasdaq
Tuesday's session closed with the Nasdaq Composite Index at 7948.56. Total shares traded for the Nasdaq was over 1.67 billion. Declining stocks led advancers by 1.71 to 1 ratio. There were 1165 advancers and 1989 decliners for the day.
The Nasdaq 100 Index closed down -0.71% for the day; a total of -54.85 points. NetEase Inc. had the largest percent change down, -5.01% while Baidu Inc. had the largest percent change gain rising 4.32%.
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Plan A : Buy if market retraced but supported firm above 7637.25. Targets are 7677.50, 7705.25 and 7735.50.
Entry : Above 7652.25, do not enter.
Plan B : Sell if market failed to support above 7710.25. Targets are 7670.25, 7642.50 and 7611.50.
Entry : Below 7695.25, do not enter.
HSI
Hong Kong stocks ended lower on Tuesday as investors locked in profit after a four-day winning streak following Beijing’s interest rate reform, which boosted riskier assets and tempered recession fears.
The Hang Seng index ended down 0.2% at 26,231.54.
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Plan A : Above 26206, do nothing
Plan B : Below 25729, do nothing
Plan C : Attempt buying if market does not fall below 25888
Plan D : Cut below 25801
Plan E : Consider selling if market still fails to breach above 26206
Plan F : Cut above 26300
WTI Crude
Oil prices steadied on Tuesday on optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown, after falling earlier on concerns over future demand.
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Plan A : Remain buy as long as oil price stays firm above 55.7
Plan B : Cut below 55.3
Plan C : Consider selling if oil price surges but fails to breach above 56.4
Plan D : Cut above 56.85
Gold
Gold rose on Tuesday to above $1,500, recovering from a more than 1% slide in the previous session, as U.S. yields fell on increasing expectations for looser monetary policy to address fears of a global downturn.
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Plan A : Remain buy as long as gold price trades resiliently above 1500
Plan B : Cut below 1492.2
Plan C : Consider selling only if gold price surges but fails to breach above 1510
Plan D : Cut above 1513
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 correctaysion, 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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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....
