Where Futures Lies
Daily Futures Trading Strategy 9 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 turned higher on Wednesday after Iran signaled no further escalation in military strikes following its attack on U.S.-led forces in Iraq, allaying investor worries of a wider war in the Middle East. However, Iranian officials later said the strikes “concluded” its response to Soleimani’s killing and U.S. President Donald Trump tweeted “All is well!”.
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Plan A : Attempt to long if market stays firm above 28674. Targets are 28710, 28755 and 28800.
Plan B : Cut below 28645.
Plan C : Continue to short if market breaks below 28630. Targets are 28595, 28550 and 28510.
Plan D : Cut above 28675.
E-Mini S&P 500
Stocks finished the first five trading days of 2020 higher, setting up for potentially strong performance in the full year, based on an old Wall Street indicator.
Stock Trader’s Almanac, which studied the market phenomenon going back to 1950, found that the first five days have a good track record of predicting the whole year. When stocks finish that period higher, the S&P 500 has been positive 82% of the time at year-end with an average gain of 13.6%, according to Stock Trader’s Almanac and CNBC calculations.
The S&P 500 rose nearly 0.5% on Wednesday, notching a new intraday record high and bringing the gains of the first five days to about 0.7%. It wasn’t all smooth sailing, however, as an escalation in U.S.-Iran tensions during the period spooked investors.
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Plan A : Long if market supported firm above 3259.25. Targets are 3274.25, 3283.50 and 3292.75.
Plan B : Short if market failed to support above 3259.25. Targets are 3244.50, 3232.25 and 3220.75.
E-Mini Nasdaq
The Nasdaq Composite advanced 0.67% to 9,129.24. The gains came as fears of a full-blown escalation between Iran and the U.S. dissipated.
The market moves between Tuesday night and Wednesday’s close could have given any investor whiplash. Stock futures tanked overnight before recovering into the morning. Wall Street then followed up with a broad rally after President Donald Trump’s remarks eased concerns about intensifying U.S.-Iran relations. Trump said Iran appears to be “standing down” after attacking Iraqi airbases housing U.S. troops. Bottom line, the market could resume its upward trajectory from 2019 if tensions between the two countries remain in check.
Weekly jobless claims data are set for release on Thursday along with KB Home earnings.
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Plan A : Short if market failed to support above 8969.25. Targets are 8933.75, 8901.25 and 8873.50.
Plan B : Long if market supported firm above 8949.25. Targets are 8985.50, 9005.25 and 9030.50.
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 rebounds from 28123.
Plan D : Cut below 28050.
Plan E : Consider to short if market recovers but does not breach above 28330.
Plan F : Cut above 28402.
WTI Crude
Oil prices sank on Wednesday after President Donald Trump said Iran "appears to be standing down" in the Middle East and that Washington would impose sanctions on Tehran instead of another military strike as feared by some investors.
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Plan A : Attempt sell if oil price stays below 60.8
Plan B : Cut above 61.1
Plan C : Consider buying if oil price trades resiliently above 60.0
Plan D : Cut below 59.6
Gold
Gold retreated after vaulting above $1,600 level for the first time in nearly seven years on Wednesday as fears of a larger conflict in the Middle East abated on milder rhetoric between Iran and the United States.
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Plan A : Attempt buy if gold price holds firmly above 1556.7
Plan B : Cut below 1552
Plan C : Consider selling if gold price fails to regain footings above 1560
Plan D : Cut above 1562
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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Ride The Bull Short The Bear
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....
