Daily Futures Trading Strategy 20 February 2020 (Foreign Market)

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Daily Futures Trading Strategy 20 February 2020 (Foreign Market)

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Publish date: Thu, 20 Feb 2020, 06:04 PM

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 advanced on Wednesday as signs of slowing coronavirus infections and expectations that China would take more steps to bolster its virus-hit economy helped investors return to equities after Apple’s sales warning.

China has unveiled several fiscal and monetary measures in an attempt to limit the damage from business shutdowns and travel curbs on the world’s second-largest economy, and many analysts predict further policy easing is likely.

China’s stimulus measures, confidence in the U.S. economy and hopes that the damage from the outbreak will be short-lived helped Wall Street’s main indexes notch fresh highs last week.

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Plan A : Attempt to short if market breaks below 29345.
Plan B : Cut above 29375. Targets are 29310, 29270 and 29225.
Plan C : Long if market rebounds from 29375.
Plan D : Cut below 29340. Targets are 29410, 29450 and 29495.

E-Mini S&P 500

The Dow climbed 115.84 points, or 0.40%, to 29,348.03. The S&P 500 gained 0.47% to 3,386.15. The Nasdaq Composite advanced 0.87% to 9,817.18. Worries over the coronavirus and its impact on the global economy were assuaged slightly, lifting two of the three major indexes to record highs.

China’s National Health Commission on Wednesday reported an additional 1,749 cases of the coronavirus nationwide. That’s the lowest number of newly confirmed cases since late January. This slowdown in new confirmed cases lifted investor sentiment as the S&P 500 and Nasdaq hit record highs. There were also reports that China would take action to mitigate the coronavirus’ impact on its airline industry. Still, the number of cases keeps rising around the world. The virus is also likely to significantly impact the global economy at least throughout the first quarter.

Apple shares gained 1.45%, recovering from a sell-off Tuesday sparked by a revenue forecast warning from the tech giant. Amazon, meanwhile, rose 0.67% to contribute to Wednesday’s gains.

Domino’s Pizza, Norwegian Cruise Line and Viacom are among the companies set to report earnings on Thursday. Weekly jobless claims are also scheduled for release.

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Plan A : Short if market failed to support above 3383.25. Targets are 3368.50, 3355.25 and 3347.75.

Plan B : Long if market doesn't retrace much but supported firm above 3383.25. Targets are 3398.50, 3405.25 and 3416.25

E-Mini Nasdaq

The S&P 500 and Nasdaq Composite rose to record highs on Wednesday as tech shares outperformed while investors continued to weigh the coronavirus’ impact on the global economy.

Dow futures indicated a higher open, priming the 30-stock average to snap a three-session slide and recovering some of Tuesday’s decline of 165 points. Dow futures were up by 91 points, indicating a gain of more than 80 points to start off Wednesday’s session. S&P 500 futures also traded higher while Nasdaq 100 futures pointed to a record high for the tech-heavy index.

The Dow and the S&P 500 were coming off losing sessions as a stark revenue warning from Apple pressured them. The tech giant said it will not meet its revenue guidance due to the coronavirus. Apple also failed to issue new revenue guidance.

On the data front, the Labor Department’s producer price index (PPI) rose by 0.5% in January, marking its biggest one-month increase since October 2018. The Federal Reserve’ also released the minutes from its January meeting, showing central bank officials think rates will remain at current levels for the time being. The minutes also reflected the coronavirus was being monitored by the Fed.

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Plan A : Short if market failed to support above 9724.25. Targets are 9684.25, 9658.25, 9627.75.

Plan B : Long if market retrace but supported firm above 9686.25. Targets are 9710.75, 9735.25 and 9756.25.

HSI

Hong Kong stocks ended higher on Wednesday, following a slight decline in the number of new coronavirus cases in mainland China and amid hopes of more stimulus to shore up the world’s second-largest economy.

At the close of trade, the Hang Seng index was up 0.5% at 27,655.81.

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

Plan A : Above 27797, do nothing.
Plan B : Below 27266, do nothing.
Plan C : Consider to short if market does not breach above 27797.
Plan D : Cut above 27875.
Plan E : Attempt to long if market rebounds firmly from 27535
Plan F : Cut below 27460.

WTI Crude

Oil prices rose on Thursday, extending gains from its previous session, as the market shifted focus to supply disruptions, while demand concerns eased some after a sharp drop in new coronavirus cases at the epicenter of the outbreak.

Conflict in Libya that has led to a blockade of its ports and oilfields shows no signs of a resolution, while U.S. sanctions on a subsidiary of Russian state oil major Rosneft could cut more Venezuelan crude from the market, rekindling global oil supply worries.

Brent crude futures were up 14 cents, or 0.2%, to $59.26 a barrel by 0505 GMT, after climbing to as high as $59.71 earlier in the day. The international benchmark rose 2.4% on Wednesday.

WTI Crude futures climbed 25 cents, or 0.5%, to $53.54 per barrel.

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

Plan A : Long if market supported firm above 53.63. Targets are 54.15, 54.46 and 54.70.

Plan B : Short if market failed to support above 53.63. Targets are 53.20, 52.87 and 52.59.

Gold

Gold prices fell slightly on Thursday, after hitting their highest since March 2013 in the previous session, as Chinese stimulus measures to cushion the economic impact of the coronavirus outbreak stoked investors to opt for riskier assets.

Spot gold was down 0.1% at $1,609.59 per ounce, as of 0253 GMT. Bullion rose to an intraday high of $1,612.62 in the previous session, the highest since March 25, 2013. U.S. gold futures were flat at $1,612.20.

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

Plan A : Long if market supported firm above 1611.20. Targets are 1619.10, 1624.50, 1629.20.

Plan B : Short if market failed to support above 1611.20. Targets are 1603.50, 1598.10 and 1593.40.

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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