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E-Mini Dow

U.S. stock index futures stabilized on Thursday as strong results from retailers bolstered confidence in consumer demand, while investors look ahead to Fed Chief Jerome Powell’s speech for more clues on future interest rate moves.

The release of the minutes from the U.S. central bank’s meeting on July 30-31 offered little clarity on Fed’s next move. The policymakers were deeply divided over their quarter-point cut in rates but united in wanting to signal the move was not on a preset path to further cuts.

At 8:40 a.m. ET, Dow e-minis were up 36 points, or 0.14%.

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Plan A : Attempt to go long if market stays firm above 26249.
Plan B : Cut below 26214. Targets seen at 26270, 26305 & 26355.
Plan C : Consider selling if market does not break above 26310.
Plan D : Cut above 26340. Targets seen at 26255, 26230 & 26200.

E-Mini S&P 500

The benchmark S&P 500 and the Nasdaq  fell on Thursday after weak U.S. manufacturing data raised concerns about the health of the economy, with comments from Fed officials dampening hopes of futures interest rate cuts.

The S&P 500 lost 1.44 points, or 0.05% to 2922.99. Six of the 11 major S&P sectors were lower with a 0.55% decline in technology weighing the most on the benchmark Index.

A private survey showed U.S. manufacturing activity in August contracted for the first time in almost a decade, signs that factories are suffering from a global slowdown amid an escalating U.S.-China trade war.

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Plan A : Buy if market retraced but supported above 2908.25. Targets are 2923.50, 2934.50 and 2942.25.

Plan B : Sell if market failed to support above 2923.50. Targets are 2908.25, 2897.25 and 2890.50.

Plan C : Buy only if market could not retrace much but supported firm above 2944.25. Targets are 2959.25, 2968.25 and 2975.50.
 

Thursday's session closed with the Nasdaq Composite Index at 7991.39, -28.82 points or -0.36%. The total shares traded for the Nasdaq was over 1.8 billion. Declining stocks led advancers by 1.52 to 1 ratio.

The Nasdaq 100 index closed down -0.33% for the day; a total of -25.79 points. JD.com Inc. had the largest percent change down, -4.07% while Alexion Pharmaceuticals Inc. had the largest percent change gain rising 7.53%.

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Plan A : Sell if market failed to support above 7738.25. Targets are 7698.50, 7670.25 and 7640.75.

Plan B : Buy if market retraced later supported firm above 7650.25. Targets are 7689.50, 7719.25 and 7752.25.

Plan C : Buy if market could not retrace much and supported firm above 7775.25. Targets are 7815.25, 7843.50 and 7874.75.

HSI