Daily Futures Trading Strategy 15 November 2019

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Daily Futures Trading Strategy 15 November 2019

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Publish date: Fri, 15 Nov 2019, 05:07 AM

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 slipped slightly on Thursday, a day after the Dow closed at record highs, as weak Chinese economic data and a dour forecast from Cisco rekindled fears of a global slowdown.

Hopes of a resolution to the dispute spurred Wall Street to record highs this month, but President Donald Trump recently tempered expectations with the threat of more tariffs if China failed to reach a deal.

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Plan A : Continue to hold long as long as market stays above 27758. Targets are 27785 and 27810.

Plan B : Cut below 27725

Plan C : Attempt to sell if market falls below 27755. Targets are 27725, 27690 and 27655.

Plan D : Cut above 27785.

E-Mini S&P 500

The S&P 500 inched higher on Thursday to a record close, but persisting worries around U.S-China trade relations and declines in Cisco Systems and Walmart tempered the excitement around Wall Street.

The broad index closed just 0.08% higher at 3,096.63 as the real estate and material sectors outperformed.

Equities have been on a tear lately amid renewed hope that both sides will strike some sort of trade deal. The Dow and S&P 500 are up 3.7% and 4.4%, respectively, over the past month. The Nasdaq Composite is up more than 5% in that time.

Asia markets were mostly higher during trade on Friday afternoon, as investors digested recent developments on U.S.-China trade.

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Plan A : Short if market failed to support above 3098.25. Targets are 3083.25, 3072.25 and 3064.25.

Plan B : Long if market retraced but supported firm above 3086.50. Targets are 3101.25, 3112.50 and 3120.75.

E-Mini Nasdaq

Investors continue to monitor U.S.-China trade developments. White House economic adviser Larry Kudlow said Thursday that Washington is “getting close” to a trade deal with Beijing, Reuters reported.

The Nasdaq Composite dipped 0.04% to 8,479.02.

December E-mini NASDAQ-100 Index futures are trading slightly lower late Wednesday, bucking the bullish tone set by the benchmark S&P 500 Index and the blue chip Dow Jones Industrial Average.

Traders are saying the technology sector is being pressured by the lack of clarity on U.S.-China trade relations from President Donald Trump and escalating tensions in Hong Kong dampened risk appetite.

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Plan A : Long if market retraced but supported firm above 8210.50. Targets are 8239.25, 8268.75 and 8300.50.
Plan B : Short if market failed to support above 8259.25. Targets are 8219.25, 8192.75 and 8160.25.

HSI

Hong Kong shares fell to their lowest close in more than a month on Thursday as parts of the city remained paralysed by a fourth consecutive weekday of protests, and as a drop in index heavyweight Tencent dragged on the broader index.

At the close of trade, the Hang Seng index was down 247.77 points, or 0.93%, at 26,323.69, its lowest close since Oct. 11.

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Plan A : Above 26539, do nothing
Plan B : Below 26069, do nothing
Plan C : Attempt to long if market tested and rebounds from 26116
Plan D : Cut below 26035
Plan E : Consider to short if market does not breach above 26493
Plan F : Cut above 26567

WTI Crude

Oil prices fell on Thursday as U.S. crude futures were pressured by a build in domestic inventories and record production, while forecasts from the Organization of the Petroleum Exporting Countries for a lower-than-expected oil surplus supported Brent.

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Plan A : Attempt sell if oil price stays below 57.0

Plan B : Cut above 57.4

Plan C : Consider buying if oil price breach and stays firm above 57.0

Plan D : Cut below 56.6

Gold

Gold prices rose on Thursday as investors remained concerned about the imminence of a trade deal between the United States and China, while a slip in riskier assets and the U.S. currency further supported the metal.

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Plan A : Attempt buying only if gold price stays firm above 1468.9

Plan B : Cut below 1461

Plan C : Consider selling if gold price fails to gain footing above 1468.9

Plan D : Cut above 1474.6

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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