Where Futures Lies
Daily Futures Trading Strategy 8 January 2020
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 signaled small gains for Wall Street at the open on Tuesday, as investors took comfort from the absence of fresh escalation in the standoff between the United States and Iran.
Iran has launched multiple missiles against at least two U.S. air bases in Iraq, Pentagon officials said Tuesday.
U.S. stock futures plunged on reports that rockets were fired at the Iraqi airbase. Dow Jones Industrial Average futures dropped 256 points and indicated a loss of 282 points at Wednesday’s open.
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Plan A : Attempt to long if market declines but still supported above 28397. Targets are 28435, 28480 and 28525.
Plan B : Cut below 28365.
Plan C : Continue to short if market falls below 28405. Targets are 28370, 28325 and 28280.
Plan D : Cut above 28440.
E-Mini S&P 500
Stocks wavered on Tuesday as Wall Street assessed the growing geopolitical risks stemming from U.S.-Iran tensions along with better-than-expected data on the economy.
The S&P 500 pulled back 0.28% to 3,237.18. The major averages briefly pared earlier losses after the Institute for Supply Management said its non-manufacturing index rose to 55 in December from 53.9 in November. That print is also above economist expectations.
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Plan A : Long if market supported firm above 3229.25. Targets are 3244.50, 3253.25 and 3262.25.
Plan B : Short if market failed to support above 3229.25. Targets are 3214.50, 3201.25 and 3193.25.
E-Mini Nasdaq
U.S. stock futures dropped early Wednesday morning on news that rockets were fired at an Iraqi airbase that hosts American troops.
Dow Jones Industrial Average futures dropped 162 points and indicated a loss of 184.68 points at Wednesday’s open. S&P 500 and Nasdaq 100 futures pointed to losses. Dow futures briefly fell more than 400 points earlier.
U.S. military officials told NBC News the Al Asad airbase, which is located in western Iraq, has come under attack, with multiple projectiles hitting it.
The Pentagon later confirmed the report, saying in a statement: “Iran launched more than a dozen ballistic missiles against U.S. military and coalition forces in Iraq. It is clear that these missiles were launched from Iran and targeted at least two Iraqi military bases hosting U.S. military and coalition personnel at Al-Assad and Irbil.”
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Plan A : Long if market support firm above 8822.25. Targets are 8858.25, 8882.50 and 8915.575
Plan B : Short if market failed to support above 8822.25. Targets are 8788.25, 8763.75 and 8730.50.
HSI
Hong Kong’s main Hang Seng index finished firmer on Tuesday, lifted by tech firms as global investors took a breather from concerns over Middle East tensions, with new data pointing towards a stabilising global economy.
At the close of trade, the Hang Seng index was up 95.87 points or 0.34% at 28,322.06.
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Plan A : Above 28402, do nothing.
Plan B : Below 28053, do nothing.
Plan C : Attempt to long if market tested and rebounds from 28053.
Plan D : Cut below 27977.
Plan E : Consider to short if market breaks below 28240.
Plan F : Cut above 28315.
WTI Crude
Oil prices surged more than 4% in early trading on Tuesday night after Pentagon officials said that Iran launched more than a dozen ballistic missiles against multiple bases in Iraq housing U.S. troops.
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Plan A : Remain buy as long as oil price trades above 63.9
Plan B : Exit below 63.5
Plan C : Consider selling if oil price falls below 65.2
Plan D : Cut above 65.7
Gold
Gold surged on Monday to a near seven-year high as the U.S. killing of a top Iranian commander stirred fears of a wider conflict in the Middle East.
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Plan A : Remain buy as long as gold price trades above 1591
Plan B : Exit below 1588
Plan C : Consider selling only if gold price surges but fails to breach above 1625.3
Plan D : Cut above 1627
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....
