Where Futures Lies
Daily Futures Trading Strategy 16 October 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 index futures rose on Tuesday, as the third-quarter earnings season got off to an upbeat start with robust reports from JPMorgan Chase, UnitedHealth and Johnson & Johnson.
The earnings reports will indicate the fallout from a prolonged U.S.-China trade war on U.S. companies. The tit-for-tat tariff moves have already hit domestic manufacturing, dented business sentiment and rankled financial markets.
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Plan A : Continue to hold long as long as market stays firm above 27018
Plan B : Cut below 26985
Plan C : Attempt to short if market falls below 27018
Plan D : Cut above 27050
E-Mini S&P 500
Stocks closed sharply higher on Tuesday as the corporate earnings season got off to a strong start.
The S&P 500 gained 1% or +29.53 points to close at 2,995.68. The S&P 500 was about 1% away from reaching an all-time high. The S&P 500 topped 3,000 on an intraday basis for the first time in three weeks.
Through Tuesday morning, 34 of the S&P 500 components had reported third-quarter numbers. Of those companies 29 have topped analyst expectations, data from The Earnings Scout shows.
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Plan A : Sell if market failed to support above 2986.25. Targets are 2971.50, 2960.75 and 2949.50.
Plan B : Buy if market retraced but supported firm above 2962.50. Targets are 2977.50, 2988.75 and 2996.25.
E-Mini Nasdaq
U.S. stocks touched four-week highs, led by health care and financial shares, as earnings season began in earnest. The pound strengthened as the U.K. and European Union moved closer to a Brexit deal.
The Nasdaq Composite Index jumped more than 1.24% or +100.06 points to end at 8,148.71. Treasury yields rose amid the risk-on backdrop.
Wall Street’s focus will largely remain on corporate earnings. Bank of America, Abbot Laboratories, Netflix and IBM are among the companies scheduled to report on Wednesday. Retail sales data is also set for release Wednesday morning.
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Plan A : Sell if market failed to support above 7916.50. Targets are 7877.50, 7847.50 and 7818.25.
Plan B : Buy if market retraced but supported firm above 7841.25. Targets are 7881.25, 7911.25 and 7941.50.
HSI
Hong Kong stocks slipped on Tuesday amid worries over China’s economic health and uncertainties around Sino-U.S. trade talks, but losses were limited as the city’s central bank cut banks’ capital buffer to support the economy.
The Hang Seng index fell 0.1%, to 26,503.93.
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Plan A : Above 26760, do nothing
Plan B : Below 26296, do nothing
Plan C : Attempt to buy if market stays firm above 26508
Plan D : Cut below 26436
Plan E : Consider to sell if market still does not break above 26760
Plan F : Cut above 26850
WTI Crude
Oil prices fell further on Tuesday, after heavy losses in the previous session following two days of weak Chinese data and as investors continued to fret over prospects for a U.S.-China trade deal despite signs of a truce last week.
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Plan A : Attempt selling if oil price stays trading below 53.0
Plan B : Cut above 53.6
Plan C : Consider buying if oil price supports firmly above 53.0
Plan D : Cut below 52.70
Gold
Gold fell 1% on Tuesday as growing risk appetite boosted investor demand for equities.
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Plan A : Attempt buy if gold price trades firmly above 1479.2
Plan B : Cut below 1477
Plan C : Consider selling if gold price recovers but fails to breach above 1486
Plan D : Cut above 1490
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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