Where Futures Lies
Daily Futures Trading Strategy 5 February 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 jumped 1% on Tuesday, signaling a recovery for Wall Street from a sharp coronavirus-led pullback last week, with fresh intervention by China’s central bank calming investor nerves.
In a bid to cushion the economic blow of the epidemic, China injected 1.7 trillion yuan ($242.74 billion) via reverse repos on Monday and Tuesday, helping Chinese stocks reverse some losses and lifting the world equity index.
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Plan A : Attempt to short if market falls below 28765. Targets are 28730, 28685 and 28640.
Plan B : Cut above 28800.
Plan C : Consider to long if market stays firm above 28785. Targets are 28815, 28860 and 28905.
Plan D : Cut below 28750.
E-Mini S&P 500
The Dow jumped 407.82 points, or 1.44% to 28,807.63. The S&P 500 gained 1.50% to end the day at 3,297.59. The Nasdaq Composite advanced 2.10% to a record close of 9,467.97. Stocks surged for a second day, making up even more ground from last week’s steep sell-off.
The number of confirmed coronavirus cases kept rising, but the prospects of more monetary stimulus out of China helped soothe worries about the virus’ effect on the global economy. Reuters reported the People’s Bank of China is mulling over lowering reserve requirement ratios for banks as well as cutting a key lending rate. At the same time, the economic data released this week has given some investors optimism that the economy remains stable. However, if the virus is not contained and it puts pressure on the economic data, stocks could slide once again.
Tesla shares ended the day up 13.7% after soaring as much as 23% at one point Tuesday. Stocks impacted by coronavirus fears recovered, with American and Delta Air Lines climbing 5% and 3.3%, respectively. Micron gained 3.2% while Apple advanced 3.3%.
ADP and Moody’s Analytics will release their latest private payrolls data on Wednesday morning. The ISM non-manufacturing index is also set for release along with Merck earnings.
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Plan A : Long if market retraced but supported firm above 3298.25. Targets are 3313.50, 3321.50 and 3332.75.
Plan B : Short if market failed to support above 3308.25. Targets are 3293.25, 3280.75 and 3272.50.
E-Mini Nasdaq
The Nasdaq hit a record high on Tuesday and the S&P 500 posted its biggest one-day gain in nearly six months as fears of a heavy economic impact from the coronavirus outbreak waned after China's central bank intervened.
It's an abrupt turnaround for markets. Stocks had sold off sharply last week amid worries about the economic impact of the virus. But they began to retrace their sharp losses on Monday.
Stocks in the U.S. received a boost as overseas markets stabilized overnight. The Shanghai Composite closed 1.3% higher, after plunging 8% a day earlier as the People’s Bank of China reportedly put another $57 billion in funds into the markets. That followed an injection of a net 150 billion yuan ($21 billion) on Monday.
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Plan A : Long if market retraced but supported firm above 9386.25. Targets are 9410.25, 9432.25 and 9443.75.
Plan B : Short only if market failed to support above 9386.25. Targets are 9356.50, 9330.25 and 9308.75.
HSI
Hong Kong stocks climbed for a second straight session on Tuesday, as measures by China’s central bank calmed investors concerned about the rapidly spreading coronavirus outbreak.
At the close of trade, the Hang Seng index was up 1.2% at 26,675.98.
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Plan A : Above 27109, do nothing.
Plan B : Below 26456, do nothing.
Plan C : Consider to short if market recovers but does not surge above 27030.
Plan D : Cut above 27109.
Plan E : Attempt to long if market stays firm above 26600.
Plan F : Cut below 26525.
WTI Crude
Oil prices moved lower Tuesday as fears that energy demand would take a long-term hit from the coronavirus outbreak offset prospects for more cuts in crude production from OPEC and its allies.
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Plan A : Remain sell as long as oil price trades below 50.3
Plan B : Cut above 50.7
Plan C : Consider buying only if oil price able to hold firm above 49.2
Plan D : Cut below 48.5
Gold
Gold more than 1% on Tuesday as Chinese steps to mitigate the economic impact from coronavirus epidemic drove some investors away from safe havens and back into riskier assets.
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Plan A : Attempt sell if gold price stays below 1556.7
Plan B : Cut above 1559.2
Plan C : Consider buying only if gold price able to regain footings above 1556.7
Plan D : Cut below 1551
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....
