Where Futures Lies
Daily Futures Trading Strategy 13 March 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 hit a down trading limit for the second time this week on Thursday, after President Donald Trump suspended travel from Europe, but failed to convince markets he could contain the economic damage from the coronavirus pandemic.
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Plan A : Remain short as long as market stays below 21225. Targets are 21190, 21150 and 21105.
Plan B : Cut above 21260.
Plan C : Attempt to long only if market stays firm above 21005. Targets are 21040, 21080 and 21125.
Plan D : Cut below 20970.
E-Mini S&P 500
U.S. stock futures were volatile in early morning trading, after the major averages on Thursday suffered their worst sessions since the “Black Monday” market crash in 1987.
As of 3:19 a.m. ET Friday, futures on the Dow were up 580 points, implying an opening gain of 467.38. points for the index. S&P 500 futures and Nasdaq-100 futures also turned around, pointing to opening gains for the indexes.
Earlier in the session, Dow futures had indicated an opening loss of 700 points at the lows.
The overnight action followed the official end of the record-long bull market run. The S&P 500 plummeted 9.5% in its worst day in more than three decades Thursday, joining the Dow in a bear market, or more than 20% from its recent peak. The Dow also suffered its worst point drop ever and the biggest percentage decline since 1987.
The market’s historic drop on Thursday indicated that investors believe the government’s fiscal plans and the Federal Reserve’s ramped-up funding actions wouldn’t be sufficient to offset the economic impact from the coronavirus.
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Plan A : Long if market supported firm above 2547.25. Targets are 2565.25, 2578.50, 2590.25.
Plan B : Short if market failed to support above 2547.25. Targets are 2525.25, 2510.50 and 2497.25.
E-Mini Nasdaq
President Donald Trump’s Europe travel ban, announced late on Wednesday, sent all three major US stock indexes into a tailspin, with the S&P 500 and the Nasdaq confirming their first bear market since the financial crisis.
The Dow Jones Industrial Average fell 2,352.6 points, or 9.99 percent, to 21,200.62, the S&P 500 lost 260.74 points, or 9.51 percent, to 2,480.64 and the Nasdaq Composite dropped 750.25 points, or 9.43 per cent, to 7,201.80. The S&P 500 Energy index lost 12.3 percent.
All 11 major sectors of the S&P 500 closed sharply lower. The blue chip Dow suffered its worst one-day loss since Oct 1987’s “Black Monday.”
The benchmark S&P 500 and the Nasdaq have lost over a quarter of their value since reaching record closing highs just 16 sessions ago, as nations around the world grapple with how to contain the fast-moving coronavirus and its economic effects.
A bear market is confirmed when an index sinks 20 percent or more below its most recent closing high.
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Plan A : Long if market supported firm above 7538.25. Targets are 7578.25, 7602.25 and 7630.25.
Plan B : Short if market failed to support above 7538.25. Targets are 7498.25, 7469.25 and 7439.75.
HSI
Hong Kong stocks on Thursday plunged to close at a near three-year low, tracking a global selloff as worries deepened over the economic impact of the coronavirus after the U.S. suspended travel from Europe.
The Hang Seng index fell 3.7%, to 24,309.07, its lowest close since April 2017.
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Plan A : Remain short if market stays below 22785. Targets are 22710 and 22625. Cut above 22876.Plan B : Long only if market tested and rebounds from 21990. Targets are 22065 and 22150. Cut below 21915.
WTI Crude
Oil prices dropped as much as 8% on Thursday as crude continue to take a hit on both the supply and demand side. U.S. West Texas Intermediate crude is now down more than 25% this week, putting it on track for its worst week since December 2008, and its third largest weekly decline on record.
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Plan A : Remain sell as long as oil price stays below 32.1
Plan B : Exit above 32.5
Plan C : Consider buying if oil price tumbles but holds firm above 30.1
Plan D : Cut below 29.5
Gold
Gold prices plunged 4% as investors rushed to cover margin calls in other assets. Palladium slumped as much as 28% on Thursday as panic selling driven by intensifying fears over coronavirus pandemic seeped into precious metals.
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Plan A : Attempt sell if gold price stays below 1593.7
Plan B : Cut above 1601
Plan C : Consider buying only if gold price able to hold resiliently above 1573
Plan D : Cut below 1567.8
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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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....
