Where Futures Lies
Daily Futures Trading Strategy 12 September 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 were largely flat on Wednesday as easing trade tensions with China did little to sway investors, who are refraining from making heavy bets ahead of the Federal Reserve’s decision on interest rates next week.
Earlier in the day, China’s finance ministry said 16 types of U.S. goods would be exempted from additional retaliatory tariffs, ahead of a planned meeting between trade negotiators from the two countries.
At 7:05 a.m. ET, Dow e-minis were up 26 points, or 0.1%.
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Plan A : Continue to hold long if market stays above 27067.
Plan B : Cut below 27033. Targets seen at 27100, 27145 & 27180.
Plan C : Attempt to short if market falls below 27003.
Plan D : Cut above 27038. Targets seen at 26968 & 26915.
E-Mini S&P 500
Wall Street was pushed higher on Wednesday by tariff-sensitive technology and industrial shares after China extended an olive branch ahead of next month’s trade negotiations with the United States.
Apple Inc led the charge, buoying all three major stock averages the day after it unveiled its latest iPhone upgrade and announced the launch date of its Apple TV+ streaming service. Its shares gained 2.6%, lifting the company’s value above the $1 trillion mark.
The S&P 500 gained 0.7% to close at 3,000.93 its highest level since late July. The broad index also ended the day less than 1% from a record high set on July 26.
China announced tariff exemptions for a basket of U.S. goods, a move viewed by many investors as a show of good faith just days ahead of planned talks aimed at resolving the long-running trade war, which has rattled markets and bruised world economies.
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Plan A : Sell if market failed to support above 2997.25. Targets are 2982.25, 2971.75 and 2960.25.
Plan B : Buy only if market retraced later supported above 2977.25. Targets are 2992.75, 3004.25 and 3015.25.
E-Mini Nasdaq
Wednesday's session closes with the NASDAQ Composite Index at 8,169.68. The total shares traded for the NASDAQ was over 2.33 billion. Advancers stocks led declining by 2.92 to 1 ratio.
The NASDAQ 100 Index closed up 0.93% for the day; a total of 72.84 points. Take-Two Interactive Software Inc. had the largest percent change down of 4.5% while Ctrip.com International Ltd. had the largest percent change gain rising 5.71%.
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Plan A : Sell if market failed to support above 7885.25. Targets are 7845.25, 7818.50 and 7790.50.
Plan B : Buy only if market retraced later supported firm above 7775.25. Targets are 7815.50, 7848.25 and 7872.50.
HSI
Hong Kong stocks closed at their highest since early August on Wednesday, boosted by property and financial firms, while China’s move to exempt some U.S. goods from retaliatory tariffs boosted market sentiment.
The Hang Seng index rose 1.8%, to 27,159.06.
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Plan A : Above 27605, do nothing
Plan B : Below 26715, do nothing
Plan C : Attempt buying if market stays firm above 26923
Plan D : Cut below 26838
Plan E : Consider selling if market surge but does not break above 27380
Plan F : Cut above 27465
WTI Crude Oil
WTI prices were jittery on Wednesday morning, rising initially, but falling back below yesterday's lows, after headlines suggesting Bolton was fired after disagreeing with Trump's desire to ease Iran sanctions to get a meeting with Rouhani.
WTI Crude Oil futures fell 2.9% to $55.75 a barrel, while Brent Oil fell 2.28% to $60.96 a barrel.As Bloomberg reports, President Trump discussed easing sanctions on Iran to help secure a meeting with Iranian President Hassan Rouhani later this month, prompting now former National Security Advisor John Bolton to erupt, and "argue forcefully" against such a step, according to the report.
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Plan A : Buy if market supported firm above 55.93. Targets are 56.23 and 56.55.
Plan B : Sell if market failed to support above 55.93. Targets are 55.62 and 55.40.
Gold
Gold rose on Wednesday on expectations of monetary policy easing by top central banks while global growth risks continue to linger, although improved appetite for riskier assets capped bullion’s gains and kept it near a four-week low.
Spot gold was up 0.7% to $1,496.01 per ounce. Prices fell to their lowest since Aug. 13 at $1,483.90 in the previous session. U.S. gold futures edged 0.3% higher to settle at $1,503.20 an ounce.
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Plan A : Buy if market supported firm above 1505.10. Targets are 1513.50 and 1521.60.
Plan B : Sell if market failed to support above 1505.10. Targets are 1497.50 and 1489.20.
Plan C : Buy only if market doesn't retrace much but supported firm above 1516.10. Targets are 1524.20 and 1532.50.
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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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....
