Where Futures Lies

Daily Futures Trading Strategy 29 August 2019 (Foreign Market)

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Publish date: Thu, 29 Aug 2019, 05:16 PM
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FUTURESCOIN IS GOING GLOBAL TODAY

 

WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

 

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E-Mini Dow

 

U.S. stock index futures fell on Wednesday after moves in the U.S. bond market returned investors to worrying about the risk of recession as a bruising U.S.-China trade war drags on. The U.S. yield curve inverted on Tuesday to levels not seen since 2007, triggering a selloff on Wall Street.

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Plan A : Attempt to short if market stays below 25975.
Plan B : Cut above 26010. Targets seen at 25930 & 25865.
Plan C : Attempt to buy if market stays firm above 26010.
Plan D : Cut below 25975. Targets seen at 26065, 26110 & 26200.

 

 


E-Mini S&P 500


Stock rose on Wednesday as the energy sector got a lift from higher oil prices, but sentiment was kept in check with a key part of the U.S. yield curve inverting even further, exacerbating fears of an impending recession.


The S&P 500 climbed 0.65% to 2887.94. The S&P 500 energy sector jumped 1.4%, led by a 10.6% surge in Cimarex Energy, as U.S. crude prices surged more than 1%. Oil jumped after the Energy Information Administration said U.S. crude inventories plummeted by 10 million barrels last week. Crude gained settled at $55.78 per barrel.


The S&P 500 stock index will see limited gains in the remaining months of 2019 as anxiety over slowing global growth and the U.S.-China trade war weigh against expectations of monetary policy easing, according to a Reuters poll of strategists.


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Plan A : Buy if market supported firm above 2896.25. Targets are 2912.50, 2923.25 and 2934.50.

Plan B : Sell if market failed to support above 2896.25. Targets are 2881.75, 2870.50 and 2859.25.

Plan C : Buy if market retraced but supported firm above 2874.50. Targets are 2889.50, 2900.75 and 2910.25.

 

 

 

E-Mini Nasdaq

 

Wednesday's session closed with the Nasdaq Composite Index at 7856.88, advanced 0.38% or 29.93 points. The total shares traded for the Nasdaq was over 1.59 billion. Advancers stocks led declining by 2.28 to 1 ratio.

 

The Nasdaq 100 Index closed up 0.29% for the day; a total of 21.87 points. Autodesk Inc. had the largest percent change down, -6.74% while American Airlines Group Inc. had the largest percent change gain rising 3.6%.

 

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Plan A : Buy if market supported firm above 7639.50. Targets are 7679.50, 7710.75 and 7738.50.

Plan B : Sell if market failed to support above 7639.50. Targets are 7599.75, 7569.75 and 7538.50.

 

 

HSI

Hong Kong shares extended losses to a third session on Wednesday as uncertainty over the Sino-U.S. trade dispute and the city’s deepening political crisis continued to sap risk appetite.

 

The Hang Seng index ended down 0.2% at 25,615.48.
 

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Plan A : Above 25909, do nothing
Plan B : Below 25249, do nothing
Plan C : Attempt buying if market stays firm above 25625
Plan D : Cut below 25540
Plan E : Consider selling if market does not break above 25871
Plan F : Cut above 25955

 


WTI Crude


Oil prices were up more than 1% on Wednesday after data showing a steep fall in U.S. crude stockpiles helped ease worries about weakening oil demand caused by the trade war between Washington and Beijing.


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Plan A : Remain buy as long as oil price stays above 55.5

Plan B : Cut below 55.0

Plan C : Consider selling if oil price fails to hold above 55.5

Plan D : Cut above 56.0
 


Gold


Gold eased on Wednesday on a stronger dollar and as investors locked profits following the more than 1% jump in the last session, but uncertainty over U.S.-China trade and the global economy kept safe-haven bullion near a multi-year peak.


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Plan A : Remain buy for long term holder as long as gold price stays firm above 1523.9

Plan B : Exit below 1520

Plan C : Consider selling if gold price fails to regain footing above 1543.6

Plan D : Cut above 1550



 

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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