Where Futures Lies
Daily Futures Trading Strategy 15 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 ended sharply higher on Monday as signs of progress in developing a COVID-19 vaccine and a spurt of multibillion-dollar deals lifted investor optimism.
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Plan A : Attempt short if market surges but trades below 28079. Targets are 27950 and 27868.
Plan B : Cut above 28159.
Plan C : Consider long if market stays firm above 27868. Targets are 27950 and 28079.
Plan D : Cut below 27818.
E-Mini S&P 500
The Dow closed 327.69 points higher, or 1.18%, at 27,993.33. The S&P 500 rallied 1.27% to 3,383.54. The Nasdaq Composite advanced 1.87% to 11,056.65. A flurry of corporate deals and renewed hope around a coronavirus vaccine led to a broad market rally on Monday.
Nvidia said it was buying chipmaker Arm Holdings from SoftBank for $40 billion. Nvidia will finance the deal through a combination of cash and common stock. ByteDance rejected Microsoft’s bid to buy TikTok's U.S. operations. Instead, ByteDance has chosen Oracle to be TikTok’s U.S. technology partner, and Oracle will take a significant stake in the business. Gilead said it will acquire Immunomedics to expand its cancer treatments for $21 billion, leading Immunomedics stock to double in value.
Apple shares climbed 3%, leading the 30-stock Dow higher. Tesla popped 12% as the broader tech sector rallied. The stock also got a boost from comments made by a Goldman Sachs analyst. Chipmakers also rallied, with Nvidia surging 5.8%. Micron, Skyworks Solutions and AMD also advanced.
The Federal Reserve is set to kick off a two-day policy meeting on Tuesday. Industrial production numbers along with import and export data are scheduled for release.
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Plan A : Long if market supported firm above 3396. Targets are 3412, 3423 and 3440.
Plan B : Short if market failed to support above 3396. Targets are 3370, 3340 and 3318.
E-Mini Nasdaq
U.S. stock futures ticked slightly higher early Tuesday morning after the market kicked off the week with a broad-based rally.
The move in futures follows a bounce-back session for Wall Street on Monday. Fresh off its worst week since March, the Nasdaq Composite led the way with a 1.9% gain as major tech stocks found their footing. The Dow and S&P 500 both gained more than 1% as well, with advancing stocks outnumbering declining ones nearly 5-to-1 on the New York Stock Exchange.
Sentiment was boosted on Monday by positive news on the vaccine front, with AstraZeneca resuming its phase three trial in the United Kingdom and Pfizer CEO Albert Bourla saying over the weekend the company should be able to present key data from its trial to regulators by the end of October.
The tech sector could generate more market-moving headlines on Wednesday, with Apple expected to announce new products at a digital-only event. The company is not expected to release a new iPhone, however.
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Plan A : Long if market supported firm above 11368. Targets are 11398, 11420 and 11460.
Plan B : Short if market failed to support above 11368. Targets are 11321, 11275 and 11227.
HSI
Hong Kong stocks ended higher on Monday tracking a global rally on fresh coronavirus vaccine hopes, while investors also awaited the U.S. Federal Reserve's policy meeting later this week for monetary policy outlook cues in the world's largest economy.
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Plan A : Attempt short if market trades below 24761. Targets are 24635 and 24538.
Plan B : Cut above 24875.
Plan C : Consider long if market stays firm above 24518. Targets are 24635 and 24761.
Plan D : Cut below 24460.
WTI Crude
Oil prices slipped slightly on Monday amid concerns about a stalled global economic recovery and with Libya poised to resume production, and failed to get support from an impending storm which has disrupted U.S. oil output.
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Plan A : Consider buy if oil price holds resiliently above 36.7
Plan B : Exit below 36.1
Plan C : Attempt selling if oil price recovers but fails to breach above 37.6
Plan D : Cut above 38.7
Plan D : Cut above 38.7
Gold
Gold jumped about 1% on Monday as the dollar weakened, while expectations around the U.S. Federal Reserve maintaining its dovish monetary policy this week further boosted the safe haven metal's allure.
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Plan A : Attempt buy if gold price trades firmly above 1935.2
Plan B : Cut below 1930
Plan C : Consider selling if gold price surges but fails to breach above 1955
Plan D : Cut above 1966
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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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....
