Where Futures Lies
Daily Futures Trading Strategy 1 April 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 were steady on Tuesday at the end of one of Wall Street’s worst first quarters on record, with evidence growing of the scale of damage caused by the collapse in oil prices and business activity due to the coronavirus.
Sliding from the record highs of mid February, the Dow Jones index is now set to end the quarter more than 18% lower from the start of the year as the health crisis deepens in the United States and disrupts supply chains.
The blue-chip Dow is set for its biggest quarterly percentage decline since 1987 and the tech-heavy Nasdaq is set to close out its worst first three months of the year since 2008.
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Plan A : Continue to hold short if market does not breach above 22125. Targets are 22090, 22050 and 22005.
Plan B : Cut above 22160.
Plan C : Long only if market rebounds from 22125. Targets are 22160, 22200 and 22245.
Plan D : Cut below 22090.
E-Mini S&P 500
Wall Street's three major indexes tumbled on Tuesday, with the Dow registering its biggest quarterly decline since 1987 and the S&P 500 suffering its deepest quarterly drop since the financial crisis on growing evidence of massive economic damage from the coronavirus pandemic.
The Dow Jones Industrial Average fell 410.32 points, or 1.84%, to 21,917.16, the S&P 500 lost 42.06 points, or 1.60%, to 2,584.59 and the Nasdaq Composite dropped 74.05 points, or 0.95%, to 7,700.10.
The technology-heavy Nasdaq registered its biggest quarterly decline since the end of 2018. It was also the S&P's biggest first-quarter decline on record as consumers were advised to stay at home, leading businesses to announce temporary closures and massive staff furloughs.
As a result, economists have slashed 2020 growth expectations and investors, eying dismal quarterly financial reports, fear corporate defaults and mass layoffs would lead to a deep recession.
Many investors were also likely being cautious ahead of the release of jobless claims data on Thursday and the March non-farm payroll report on Friday, said Steven DeSanctis, a strategist at Jefferies.
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Plan A : Long if market supported firm above 2508.25. Targets are 2533.75, 2550.25 and 2571.25.
Plan B : Short if market failed to support above 2508.25. Targets are 2483.25, 2460.25 and 2445.25.
E-Mini Nasdaq
U.S. stock futures dropped early Wednesday morning and pointed to sizable declines at the open, following the end of the worst first quarter on record for the Dow and S&P 500 spurred by the coronavirus sell-off.
At around 3:50 a.m. ET, Dow futures fell 651 points, indicating a Wednesday opening loss of about 689 points. S&P 500 futures and Nasdaq-100 futures also pointed to losses at the open.
President Donald Trump said Tuesday evening the U.S. should prepare for a "very, very painful two weeks" from the rampant coronavirus. White House officials are projecting between 100,000 and 240,000 virus deaths in the U.S.
“This is going to be a rough two-week period,” Trump said at a White House press conference. “When you look at night the kind of death that has been caused by this invisible enemy, it’s incredible.”
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Plan A : Long if market supported firm above 7539.25. Targets are 7569.25, 7597.25 and 7625.25.
Plan B : Short if market failed to support above 7539.25. Targets are 7500.75, 7468.25 and 7440.25.
HSI
Hong Kong shares rose on Tuesday on signs that China’s economy may be recovering from the coronavirus shock, but deepening fears of a global recession sent them to their worst quarter since 2015.
At the close of trade, the Hang Seng index was up 1.9% at 23,603.48. But the Hang Seng fell 9.7% in March, marking its worst month since October 2018. It dropped 16.3% in the first quarter, its largest quarterly decline since the third quarter of 2015.
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Plan A : Consider to short if market stays below 23365. Targets are 23280 and 23155. Cut above 23450.
Plan B : Long if market tested and rebounds from 22950. Targets are 23035 and 23125. Cut below 22865.
WTI Crude
Oil prices rose on Tuesday after U.S. President Donald Trump and Russian President Vladimir Putin agreed to talk aimed at stabilizing energy markets, with benchmarks climbing off 18-year lows hit as the coronavirus outbreak cut fuel demand worldwide.
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Plan A : Attempt buying if oil price able to hold firm above 20.0
Plan B : Cut below 19.2
Plan C : Consider selling if oil price recovers but fails to breach above 21.2
Plan D : Cut above 22.0
Gold
Gold prices dipped over 2% to their lowest in a week on Tuesday as the dollar firmed, but the metal was on track for a sixth straight quarterly rise on concerns of global economic damage due to the coronavirus pandemic.
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Plan A : Attempt selling if gold price trades below 1591.3
Plan B : Cut above 1594
Plan C : Consider buying only gold price holds resiliently above 1568
Plan D : Cut below 1558.2
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
4.9 / 5.0
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....
