Where Futures Lies
Daily Futures Trading Strategy 8 September 2020
FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stocks futures climbed in overnight trading on Monday after technology shares suffered their worst sell-off in more than five months.
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Plan A : Attempt short if market recovers but trades below 28343. Targets are 28244 and 28085.
Plan B : Cut above 28394.
Plan C : Consider long if market stays firm above 28084. Targets are 28240 and 28340.
Plan D : Cut below 27985.
E-Mini S&P 500
U.S. stock futures and Asian shares regained some footing on Tuesday following a small bounce in European shares as investors looked to whether high-flying U.S. tech shares could recover from their recent rout.
Globally traded U.S. S&P500 futures erased their Monday losses to trade 0.6% higher. Tech shares remained more fragile, however, with Nasdaq futures standing flat after having lost more than 6% late last week.
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Plan A : Long if market doesn't retrace much and supported firm above 3427. Targets are 3445, 3459 and 3480.
Plan B : Short if market failed to support above 3427. Targets are 3400, 3372 and 3350.
E-Mini Nasdaq
Stocks just snapped a five-week winning streak after a big reversal in major technology stocks last week. Steep losses in Amazon, Apple, Microsoft and Facebook — 2020′s market leaders — drove the tech-heavy Nasdaq Composite down 3.3% to suffer its worst week since March 20. The Dow and the S&P 500 fell 1.8% and 2.3% last week, respectively, posting their biggest weekly losses since June.
Many on Wall Street believe the weakness derived from worries that the massive tech run-up pushed valuations to unsustainable levels. The aggressive buying of growth stocks has also been spilling into the options markets. Even with last week’s pullback, the Nasdaq is up more than 70% from its March bottom.
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Plan A : Short if market failed to support above 11456. Targets are 11400, 11360 and 11301.
Plan B : Long if market doesn't retrace much and supported firm above 11456. Targets are 11490, 11509 and 11541.
HSI
Hong Kong shares fell on Monday as global investors stepped back from sectors seen as over-valued, and as the possible blacklisting of China's largest chipmaker by the Trump administration weighed on tech names.
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Plan A : Attempt short if market stays below 24700. Targets are 24518 and 24368. Cut above 24800.
Plan B : Consider long if market trades firmly above 24518. Targets are 24610 and 24720. Cut below 24460.
WTI Crude
Oil prices dropped more than 1% on Monday after earlier hitting their lowest since July as Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months while optimism about demand recovery cooled amid the coronavirus pandemic.
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Plan A : Consider buy if oil price tumbles but holds resiliently above 38.7
Plan B : Exit below 38.0
Plan C : Attempt selling if oil price trades below 39.9
Plan D : Cut above 40.7
Gold
Gold was flat on Friday, reversing course as better-than-expected U.S. employment data bolstered the dollar, putting bullion on course for a weekly decline of more than 2%.
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Plan A : Attempt buy if gold price trades firmly above 1910.1
Plan B : Cut below 1901
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.
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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....
