Where Futures Lies
Daily Futures Trading Strategy 24 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 treaded water on Monday, as investors remained cautious about progress in U.S.-China trade talks and waited for a slew of economic reports to gauge the health of the domestic economy.
The index recorded the worst session in about two weeks on Friday - ending a three-week run of gains - after a Chinese agriculture delegation cancelled a visit to Montana, dampening optimism about the trade talks.
Stock markets had been buoyed earlier in the week by the Federal Reserve’s decision to cut interest rates for the second time in 2019, joining other central banks around the world in easing monetary policy.
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Plan A : Continue to hold short if market does not breach above 27023
Plan B : Cut above 27063
Plan C : Consider buying if market rebounds from 26979
Plan D : Cut below 26948
E-Mini S&P 500
Stocks have been grinding sideways, the S&P 500 has been edging closer to 3,028, its high from July 26, but it has backed off a number of times, creating a jagged seesaw pattern on August’s chart.
On Monday, the S&P was slightly higher but still trading below the psychological 3,000 level. But the stock market has not made much upside progress and the S&P 500 is only up 2.2% in the past 12 months, despite a December selloff and a recovery that began in January.
There has also been tension between stocks and bonds, which have been reflecting fear of a weakening economy. The market has been shrugging off some of that concern more recently, and yields have moved off early September lows.
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Plan A : Sell if market failed to support above 2990.25. Targets are 2975.25, 2964.75 and 2656.75.
Plan B : Buy only if market retraced but supported firm above 2990.25. Targets are 3005.50, 3016.75 and 3023.25.
E-Mini Nasdaq
U.S. stock index futures were higher on Tuesday morning. At around 04:00 a.m. ET, the Nasdaq 100 Index is marginally higher.
The moves in pre-market trade come after U.S. Treasury Secretary Steven Mnuchin confirmed trade talks between the world’s two largest economies would resume next month.
The upcoming trade talks provided a boost to market sentiment, but lingering concerns about slowing global growth remained front and center for financial markets.
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Plan A : Sell if market failed to support above 7844.25. Targets 7805.50, 7775.50 and 7746.25.
Plan B : Buy if market retraced but supported firm above 7772.50. Targets are 7812.25, 7840.75 and 7869.50.
HSI
Hong Kong stocks ended lower on Monday, posting their sixth straight session of losses, as U.S.-China trade uncertainties and concerns over political protests weighed on risk appetite.
The Hang Seng index fell 0.8% to 26,222.40.
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Plan A : Above 26770, do nothing
Plan B : Below 26135, do nothing
Plan C : Continue to short if market does not breach above 26297
Plan D : Cut above 26392
Plan E : Consider buying if market rebounds firmly from 26229
Plan F : Cut below 26135
Gold
Gold prices were steady on Tuesday, having risen to a more than two-week peak in the previous session on global slowdown fears and tensions in the Middle East, while an improved Sino-U.S. trade tone weighed on the yellow metal.
Spot gold was little changed at $1,521.16 per ounce, as of 0339 GMT, after climbing to its highest since Sept. 6 at $1,526.80 in the previous session.
U.S. gold futures were down 0.2% at $1,528.50 per ounce.
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Plan A : Buy if market retraced but supported firm above 1519.30. Targets are 1527.10 and 1535.20.
Plan B : Sell if market failed to support above 1519.30. Targets are 1511.20 and 1503.50.
WTI Crude
Oil rose slightly on Monday, after gaining nearly 7% last week, as lingering concerns over global supplies following the Sept 14 attack on Saudi oil facilities offset prospects for a faster-than-expected restoration of the kingdom's output and on signs of European economic weakness.
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Plan A : Remain buy only if oil price manage to hold firm above 58.4
Plan B : Cut below 58.0
Plan C : Consider selling if oil price fails to hold above 58.4
Plan D : Cut above 59.1
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....
