Where Futures Lies
Daily Futures Trading Strategy 28 August 2020
FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
If you like what we are doing, kindly like and share our page at FB. Follow us at FB for more updates.
Click here to contact us : https://goo.gl/B6Dccf
E-Mini Dow
The S&P 500 and the Dow advanced but the Nasdaq closed lower on Thursday as investors digested the U.S. Federal Reserve's new strategy to adopt an average inflation target and restore the United States to full employment, as well as promising development in the fight to contain the coronavirus pandemic.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for September subscription.
Plan A : Remain long as long as market trades firmly above 28418. Targets are 28540 and 28590.
Plan B : Exit below 28340.
Plan C : Attempt short if market fails to stay above 28418. Targets are 28330 and 28220.
Plan D : Cut above 28480.
E-Mini S&P 500
The Dow gained 160.35 points, or 0.6%, to close at 28,492.27. The Dow also briefly erased its losses for 2020 at one point. The S&P 500 advanced 0.2% to 3,484.55. The Nasdaq Composite fell 0.3% to 11,625.34. Stocks gyrated throughout Thursday's session after the Federal Reserve unveiled a new framework that could keep interest rates lower for a longer period of time.
Fed Chairman Jerome Powell said the central bank formally agreed to a policy of "average inflation targeting.” In other words, the central bank will let inflation run “moderately” above its 2% goal for “some time.” Powell also hinted that unemployment data can stay lower for longer before the Fed starts thinking about raising rates. This led to a decline in short-term yields and gains along the long end of the yield curve.
JPMorgan Chase advanced 3% and Citigroup rose 1.7%. Wells Fargo and Bank of America were up 2.3% and 1.9%, respectively. Facebook, meanwhile, dropped 3.5% and Amazon slid 1.2%. Netflix dropped 3.9% and Alphabet pulled back by 1%.
Data on consumer sentiment and personal income is set for release Friday.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for September subscription.
Plan A : Short if market failed to support above 3486.25. Targets are 3461.25, 3435.25 and 3400.50.
Plan B : Long if market retraced but supported firm above 3465.50. Targets are 3482.25, 3495.75 and 3515.25.
E-Mini Nasdaq
Futures tied to major U.S. equity benchmarks rose in overnight trading on Thursday as Wall Street attempts to build on its record-breaking rally.
The S&P 500 reached a new all-time high for a fifth day in a row on Thursday, and briefly topped 3,500 for the first time ever. The Dow gained 160 points for its fifth positive day in six. The Nasdaq underperformed with a 0.3% loss, led by declines in Apple and Amazon.
Stocks got a boost Thursday amid volatile trading after the Federal Reserve unveiled a major policy shift, allowing inflation and employment to run higher to continue to support the economy.
The move indicates that interest rates are likely to stay near zero for a long period of time. The central bank previously hiked rates pre-emptively to head off higher levels of inflation.
So far this week, the S&P 500 is up 2.5%, on pace for its best week since July 2 and its fifth straight week of gains for the first time this year. The Dow and the Nasdaq also have gained more than 2% each week to date.
Investors will monitor fresh economic data on Friday, including consumer spending, personal consumption expenditures as well as consumer sentiment.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for September subscription.
Plan A : Long if market retraced but supported firm above 11905.50. Targets are 11932.25, 11965.50 and 12010.25.
Plan B : Short if market failed to support above 11905.50. Targets are 11865.25, 11820.25 and 11785.50.
HSI
Hong Kong's benchmark share index ended lower on Thursday as tensions between the United States and China weighed on sentiment, and as global investors awaited the outlook on monetary policy from U.S. Federal Reserve Chair Jerome Powell.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for September subscription.
Plan A : Attempt short if market stays below 25470. Targets are 25330 and 25160. Cut above 25580.
Plan B : Consider long if market trades firmly above 25330. Targets are 25470 and 25510. Cut below 25260.
WTI Crude
Oil prices fell on Thursday as a massive hurricane in the Gulf of Mexico made landfall in the heart of the U.S. oil industry, forcing oil rigs and refineries to shut down.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for September subscription.
Plan A : Attempt buy as long as oil price stays above 42.6
Plan B : Exit below 41.9
Plan C : Consider selling if oil price surges but fails to breach above 43.4
Plan D : Cut above 43.8
Gold
Gold slumped over 2% in volatile trading on Thursday as the U.S. dollar and Treasury yields rose after Federal Reserve Chair Jerome Powell shifted the central bank's inflation target in a widely expected move.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for September subscription.
Plan A : Attempt buy if gold price trades firmly above 1920
Plan B : Cut below 1910
Plan C : Consider selling if gold price surges but fails to breach above 1935
Plan D : Cut above 1939
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 correction, 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.
More articles on Where Futures Lies
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Latest Videos
Apps
Top Articles
1
2
3
CEO Morning Brief
Goldman Sachs Economists See Fed Skipping a Rate Cut in January
4
CEO Morning Brief
Cocoa Soars to Fresh Record in Blow to World’s Chocolate Supply
5
CEO Morning Brief
Booking CFO Says Inflation Impact Still Curbing US Travel Demand
#
Stock
Score
Daily Stocks
Stock
Last
Change
Volume
Stock
Last
Change
Volume
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....
