Where Futures Lies

Daily Futures Trading Strategy 28 January 2020 (Foreign Market)

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Publish date: Tue, 28 Jan 2020, 06:04 PM
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FUTURESCOIN IS GOING GLOBAL

 

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

 

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E-Mini Dow

U.S. stock index futures fell sharply on growing concerns about the financial fallout of a fast-spreading coronavirus outbreak in China as the country extended the Lunar New Year holidays and more big businesses shut down.

Travel-related stocks, including airlines, casinos and hotels, were the worst-hit in premarket trading on Monday. Several cities in China had been locked down for contagion fears and new cases were reported from across the world.

 

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Plan A : Attempt long if market rebounds from 28369. Targets are 28405, 28450 and 28495.

Plan B : Cut below 28335.

Plan C : Continue to hold short as long as market does not breach above 28645. Targets are 28610, 28565 and 28520.

Plan D : Cut above 28680.



 

E-Mini S&P 500

 

The Dow slid 453.93 points, or 1.57%, to end the day at 28,535.80. The S&P 500 dropped 1.57% to 3,243.63. The Nasdaq Composite fell 1.89% to 9,139.31. Wall Street suffered steep losses as coronavirus fears dented sentiment once again.

 

The number of confirmed coronavirus cased in China has broken above 2,800, with the death toll rising to 81. This has led to increasing uncertainty around how the virus would hurt the global economy. The S&P 500 also snapped a 74-session streak without a decline of at least 1%. Investors will now look to hear what companies say about how the coronavirus could impact businesses. The uncertainty also will make it harder for stocks to notch fresh record highs.

 

In other market news, 3M, Pfizer and Xerox are due to report before the bell. Apple, Alaska Air, Starbucks and eBay are due to update investors after the bell.

 

On the data front, durable goods are set to be out at 8:30 a.m. ET. Consumer confidence figures alongside the Richmond and Dallas Fed surveys are expected at 10 a.m. ET.

 

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for February subscription. 

 

 

Plan A : Long if market supported firm above 3243.25. Targets are 3258.25, 3267.75 and 3279.25.

Plan B : Short if market failed to support above 3243.25. Targets are 3228.50, 3217.50 and 3208.75.

Plan C : Short if market rebounded and resisted around 3267.50. Targets are 3252.25, 3242.50 and 3230.25. 

 

 

 

E-Mini Nasdaq

 

U.S. stock index futures were higher on Tuesday morning after the Dow posted its worst trading day in about three months.

 

At around 4:20 a.m. ET, Dow futures were up by 57 points, indicating a positive open of more than 49 points. Futures on the S&P 500 and Nasdaq were also higher.

 

Global investors have been concerned over the impact of the coronavirus on the economy, as the number of cases worldwide keeps rising. In this context, U.S. equities dropped on Monday, with the Dow falling by 1.6%, its biggest one-day drop since October. Shares of travel companies and consumer goods firms exposed to China were some of the biggest losers.

 

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for February subscription. 

 

Plan A : Long if market supported firm above 8982.50. Targets are 9013.50, 9033.25 and 9055.50.

Plan B : Short if market failed to support above 8982.50. Targets are 8945.25, 8912.25 and 8880.25.

 

 

 

 

WTI Crude


Oil dropped to its lowest level since October on Monday, as fears over a potential slowdown in crude demand, sparked by the coronavirus outbreak, continued to pressured prices.

 

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Plan A : Attempt selling if oil price stays below 53.3

Plan B : Cut above 54.3

Plan C : Consider buying only if oil price able to trade resiliently above 52.9

Plan D : Cut below 52.6

 

 



Gold


Gold climbed to a near three-week high on Monday as mounting concerns over the economic fallout of the coronavirus outbreak sent investors scurrying for safe heavens.

 

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for February subscription. 


Plan A : Remain buy as long as gold price stays firm above 1575

Plan B : Exit below 1571

Plan C : Consider selling if gold price surges but fails to breach above 1588

Plan D : Cut above 1591

 

 

 

 

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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