Where Futures Lies
Daily Futures Trading Strategy 30 September 2019
FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stock markets were set to gain on Friday but still looked on course to end the week in negative territory as the shock of the launch of an impeachment investigation into President Trump was countered by hopes for progress with China on trade.
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Plan A : Continue to sell if market stays below 26865
Plan B : Cut above 26895
Plan C : Consider buying if market rebounds firmly from 26895
Plan D : Cut below 26865
E-Mini S&P 500
U.S. equity markets reversed early gains and sank after reports that the White House is now considering limits to U.S. investment in China. Stocks with exposure to China including Boeing and Apple fell following the news of the administration’s considerations, which if pursued could endanger billions of dollars in investments tied to major indexes and escalate the trade war. Chinese stocks trading on U.S. exchanges dropped on fears they could be de-listed, with shares of Alibaba losing 5%.
The S&P 500 slid 0.53% or -15.83 points to close at 2961.79. The S&P 500 ended the week down 1%, its second straight weekly decline.
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Plan A : Sell if market failed to support above 2971.50. Targets are 2956.25, 2945.75 and 2936.25.
Plan B : Buy if market retraced but supported firm above 2952.50. Targets are 2967.50, 2978.25 and 2987.50.
E-Mini Nasadq
The Nasdaq Composite Index shed -1.13%, -91.03 points at 7939.63. Declining issues outnumbered advancers for a 1.04-to-1 ratio. The Nasdaq recorded 24 new highs and 71 new lows.
Chipmaker stocks sank on the week’s final day of trading and contributed to a slump in the broader technology industry. Nvidia and Applied Materials both fell more than 3% while Micron, which announced weaker guidance on Thursday, dove 11%. Friday was Micron’s worst day on Wall Street since June 2015.
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Plan A : Sell if market failed to support firm above 7722.50. Targets are 7682.50, 7651.25 and 7623.25.
Plan B : Buy if market retraced but supported firm above 7722.50. Targets are 7761.25, 7790.25 and 7823.50.
HSI
Hong Kong stocks dipped on Friday, weighed down by the persisting political crisis in the city and caution over U.S.-China trade relations.
Political uncertainty in the island is likely to continue, with the island bracing for a weekend of unrest as pro-democracy protests are likely to mount in the China-ruled territory ahead of the 70th anniversary of the founding of the People’s Republic on Tuesday.
The Hang Seng index closed down 0.3% at 25,954.81 points.
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Plan A : Above 26078, do nothing
Plan B : Below 25777, do nothing
Plan C : Continue to short if market does not breach above 26078
Plan D : Cut above 26149
Plan E : Consider buying if market tested and rebounds from 25865
Plan F : Cut below 25777
WTI Crude
Oil slid after Iranian President Hassan Rouhani claimed Friday that the U.S. offered to remove all sanctions on Iran in exchange for negotiations. President Donald Trump and the State Department later denied those claims, causing oil to rebound from the lows.
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Plan A : Attempt sell if oil price remain below 56.45
Plan B : Cut above 56.9
Plan C : Consider buying if oil price trades resiliently above 55.9
Plan D : Cut below 55.4
Gold
Gold prices fell on Friday and was on track for its third weekly fall for the month, restrained as a slew of U.S. economic data beat expectations and the dollar held near multi-week highs against major currencies.
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Plan A : Attempt sell if gold price remain trading below 1501.5
Plan B : Cut above 1507.4
Plan C : Consider buying only if gold price able to recover and stays firm above 1501.5
Plan D : Cut below 1494.4
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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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....
