Where Futures Lies
Daily Futures Trading Strategy 4 September 2020
FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street's main indexes closed sharply lower on Thursday, ,marking their deepest one-day declines since June as investors dumped the high-flying technology sector, while economic data highlighted concerns about a long and difficult recovery.
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Plan A : Consider long if market trades firmly above 28084. Targets are 28245 and 28343.
Plan B : Exit below 28000.
Plan C : Attempt short if market recovers but stays below 28343. Targets are 28240 and 28110.
Plan D : Cut above 28380.
E-Mini S&P 500
The Dow closed 807.77 points lower, or 2.8%, at 28,292.73. The S&P 500 slid 3.5% to 3,455.06. The Nasdaq Composite dropped 5% to 11,458.10. A massive sell-off in tech dragged down the broader market from record levels.
The S&P 500 tech sector dropped 5.83% for its first losing session in 11. “Someone hit the ‘sell tech, buy dreck’ button and this is creating a bid beneath beleaguered groups, while [tech] gets pummeled,” said one trader. Apple slid 8% to lead tech lower. Facebook, Amazon, Alphabet, Netflix and Microsoft also fell sharply.
To be sure, shares of companies that would benefit from the economy reopening rose broadly. Cruise operator Carnival rose 5.2% and Macy's popped 8%. United Airlines advanced 1.4%.
Traders are bracing for the Friday release of the U.S. jobs for August. Economists polled by Dow Jones expect more than 1 million jobs were added last month.
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Plan A : Short if market failed to support above 3425. Targets are 3399, 3370 and 3345.
Plan B : Long if market doesn't retrace much and supported firm above 3425. Targets are 3442, 3468 and 3483.
E-Mini Nasdaq
U.S. stock futures fell on Thursday night, building on the downside momentum from the regular trading session as Big Tech was primed for another steep decline.
The Dow slid more than 800 points, or 2.8%, during the cash session for its biggest one-day decline since June. The S&P 500 plunged 3.5% and the Nasdaq Composite dropped 5%. Thursday’s declines also wiped out the major averages’ gains for the week and knocked both the S&P 500 and Nasdaq off record levels.
As a sector, tech had its worst day since March, falling 5.83%. Apple contributed a big portion of those losses, falling 8%. Facebook, Amazon, Netflix, Alphabet and Microsoft also closed Thursday’s session sharply lower.
Those steep declines in tech shares come after the space drove the lion’s share of the broader market’s comeback off the coronavirus sell-off lows. Since March 23, the S&P 500 tech sector is up about 70%. For the year, tech has rallied more than 30%.
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Plan A : Short if market failed to support above 11655. Targets are 11600, 11547 and 11480.
Plan B : Long if market doesn't retrace much and supported firm above 11655. Targets are 11684, 11720 and 11742.
HSI
Hong Kong stocks ended lower on Thursday, weighed by technology companies after India banned Chinese apps following a standoff with Beijing at the border.
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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 24920. Targets are 24761 and 24555. Cut above 24990.
Plan B : Consider long if market gaps down but trades firmly above 24518. Targets are 24600 and 24760. Cut below 24440.
WTI Crude
Oil prices fell on Thursday, at one point touching their lowest since early August as U.S. unemployment data fed fears of a slow recovery for the economy and fuel demand a day after weak U.S. gasoline demand data.
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Plan A : Attempt buy if oil price holds resiliently above 40.7
Plan B : Exit below 39.9
Plan C : Consider selling if oil price trades below 41.6
Plan D : Cut above 42.6
Plan D : Cut above 42.6
Gold
Gold prices fell to a near one-week low on Thursday, as positive economic data from the United States elevated hopes for a quick economic recovery, denting the safe-haven metal's appeal.
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Plan A : Attempt buy if gold price trades firmly above 1935
Plan B : Cut below 1931
Plan C : Consider selling if gold price surges but fails to breach above 1966
Plan D : Cut above 1972
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.
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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....
