Where Futures Lies
Daily Futures Trading Strategy 7 February 2020 (Foreign Market)
Futurescoin
Publish date: Fri, 07 Feb 2020, 04:24 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 rose on Thursday as China’s plan to halve additional tariffs on some American goods helped allay fears over the financial fallout of the coronavirus epidemic.
Beijing said it would lower extra levies imposed last year against 1,717 U.S. products, weeks after the signing of a Phase 1 trade deal.
The tariff cut follows hefty monetary stimulus by China’s central bank earlier this week and is expected to lift investor sentiment, which has been impacted by shutdowns in the world’s second largest economy due to the virus outbreak.
A string of positive U.S. economic data too have helped mitigate worries, fueling a three-day rally on Wall Street.
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Plan A : Attempt to short if market falls below 29325. Targets are 29290, 29245 and 29205.
Plan B : Cut above 29360.
Plan C : Continue to long if market stays firm above 29325. Targets are 29360, 29405 and 29450.
Plan D : Cut below 29295.
E-Mini S&P 500
The Dow climbed 88.92 points, or 0.30%, to 29,379.77. The S&P 500 gained 0.33% to close at 3,345.78. The Nasdaq Composite advanced 0.67% to 9,572.15. Wall Street managed to recover coronavirus-related losses amid a raft of strong economic data and corporate earnings.
The Dow joined the S&P 500 and Nasdaq in record territory, erasing its losses from the recent coronavirus scare. Investors are still keeping an eye on the latest news around the virus, but better-than-expected economic data — such as the latest weekly jobless claims numbers — and solid earnings from companies such as Twitter have outweighed the negative sentiment from the virus.
Twitter shares gained 15.06% after the social media company reported it made money from more users in the previous quarter than analysts expected. Boeing was among the best-performing Dow stocks on Thursday, gaining 3.60%.
The January U.S. jobs report is scheduled for release Friday at 8:30 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 3340.25. Targets are 3353.50, 3364.25 and 3375.75.
Plan B : Short if market failed to support above 3340.25. Targets are 3325.50, 3313.25 and 3305.75.
E-Mini Nasdaq
Stocks rose to all-time highs on Thursday after China announced it will halve tariffs on a slew of U.S. products. Strong corporate earnings results and solid economic data also gave the major indexes a boost.
Boeing shares led the Dow higher with a 3.6% gain. Microsoft contributed to the advance, rising more than 2%. Communication services and tech were the best-performing sectors in the S&P 500, rising more than 0.8% each.
China announced overnight it will halve tariffs on U.S. imports totaling about $75 billion. China’s finance ministry said the tariff cut was timed in conjunction with a U.S. decision last month to halve tariffs on roughly $120 billion worth of Chinese products. Tariffs on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, which will take effect on Feb. 14.
That decision was made as part of a broader “phase one” trade deal between China and the U.S. The agreement put the U.S.-China trade war, which had been hurting global growth prospects, on hold. President Donald Trump has said previously a phase-two agreement would be struck at a later date.
The cut also comes after the coronavirus death toll in China rose to 563, with a total of 28,018 cases confirmed as drugmakers race to find a vaccine.
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 9433.50. Targets are 9460.25, 9483.25 and 9503.50.
Plan B : Short if market failed to support above 9433.50. Targets are 9405.50, 9385.25 and 9363.25.
HSI
Hong Kong shares jumped more than 2.5% on Thursday, the most in five months, after Beijing announced it will slash tariffs on some U.S. imports, in a move to aid an economy pressured by the coronavirus epidemic.
At the close of trade, the Hang Seng index was up 2.6% at 27,493.70, marking its largest daily percentage gain since Sept. 4, 2019.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for February subscription.
Plan A : Above 27918, do nothing.
Plan B : Below 27053, do nothing.
Plan C : Consider to short if market breaks below 27465
Plan D : Cut above 27568.
Plan E : Attempt to long if market stays firm above 27356.
Plan F : Cut below 27271.
WTI Crude
An OPEC+ technical panel has recommended a provisional cut in oil output of 600,000 barrels per day in response to the coronavirus' impact on energy demand as it awaits Russia's final position on the proposal.
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 oil price stays firm above 51.1
Plan B : Cut below 50.3
Plan C : Consider selling only if oil price fails to hold above 51.1
Plan D : Cut above 51.5
Gold
Gold rose on Thursday as expectations of central banks keeping interest rates low and uncertainties around the economic impact of the coronavirus epidemic fueled appetite for the safe-haven metal.
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 1556.7
Plan B : Cut below 1552.4
Plan C : Consider selling if gold price surges but fails to breach above 1568.2
Plan D : Cut above 1575
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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