Where Futures Lies
Daily Futures Trading Strategy 3 December 2019
FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street stepped back from last week's record highs on Monday, with disappointing U.S. manufacturing data and fresh trade worries keeping buyers on the sidelines.
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Plan A : Attempt to long if market stays firm above 27712. Targets are 27800, 27826 and 27897.
Plan B : Cut below 27700.
Plan C : Attempt to sell if market fails to climb above 27826. Targets are 27740, 27712 and 27700.
Plan D : Cut above 27897.
E-Mini S&P 500
Stocks dropped on Monday, the first trading day of December, as investors digested disappointing manufacturing data along with the latest trade news after capping a month that featured blistering gains.
The S&P 500 pulled back 0.86% to 3,113.87 — its biggest one-day loss since Oct. 8. The major averages had their biggest monthly gains since June, rallying to record highs. The S&P 500 climbed 3.4% last month while the Dow advanced 3.7% and the Nasdaq rallied 4.5%.
Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said. The ISM Manufacturing PMI dipped to 48.1 in November. That’s below an estimate of 49.4. Stocks hit their session lows after the data was released.
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Plan A : Short if market failed to support above 3112.25. Targets are 3097.50, 3085.25 and 3076.75.
Plan B : Long only if market supported firm above 3112.25. Targets are 3127.50, 3135.25 and 3146.75.
E-Mini Nasdaq
Wall Street stepped back from last week’s record highs on Monday, with weak U.S. manufacturing data and fresh trade worries keeping buyers on the sidelines.
The Nasdaq Composite closed 1.12% lower at 8,567.99.
Declining issues outnumbered advancing ones on the NYSE by a 2.66-to-1 ratio; on Nasdaq, a 2.48-to-1 ratio favored decliners. The Nasdaq Composite recorded 65 new highs and 39 new lows.
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Plan A : Short if market failed to support above 8306.25. Targets are 8266.25, 8238.50 and 8208.25.
Plan B : Long only if market supported firm above 8306.25. Targets are 8344.25, 8372.50 and 8403.25.
HSI
Stocks in Hong Kong ended higher on Monday, boosted by upbeat factory data on mainland, while cloudy outlook over a Sino-U.S. interim trade deal and pro-democracy protests in the Asian financial hub kept gains in check.
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Plan A : Above 26525, do nothing
Plan B : Below 26300, do nothing
Plan C : Continue to short if market stays below 26471
Plan D : Cut above 26525
Plan E : Consider to long if market tested and rebounds from 26300
Plan F : Cut below 26270
WTI Crude
Oil futures gained more than 1% on Monday on hints OPEC and its allies may agree to deepen output cuts at a meeting this week and as rising manufacturing activity in China suggested stronger demand.
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Plan A : Attempt buying only if oil price able to trade firmly above 55.9
Plan B : Cut below 55.4
Plan C : Consider selling if oil price recovers but fails to hold firm above 55.9
Plan D : Cut above 56.2
Gold
Gold steadied on Monday after paring losses as weak U.S. manufacturing data rekindled worries about a slowing economy.
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Plan A : Attempt buying if gold price stays firm above 1457.3
Plan B : Cut below 1452.8
Plan C : Consider selling if gold price recovers but fails to breach above 1464.2
Plan D : Cut above 1468.9
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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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....
