Where Futures Lies
Daily Futures Trading Strategy 8 April 2020 (Foreign Market)
Futurescoin
Publish date: Wed, 08 Apr 2020, 06:49 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 bounced for a second straight day on Tuesday as risk appetite returned on tentative signs that the coronavirus outbreak was starting to plateau in hard-hit U.S. states.
The index rallied more than 7% on Monday after the governors of New York and New Jersey said their states, hot spots of the COVID-19 disease, were showing early signs of a “flattening” of the outbreak. But they warned against complacency as the nationwide death toll approached 11,000 and global infections surged past 1.3 million.
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Plan A : Short if market breaks below 22827. Targets are 22792, 22752 and 22707.
Plan B : Cut above 22863.
Plan C : Long if market tested and rebounds from 22511. Targets are 22550 and 22595.
Plan D : Cut below 22475.
E-Mini S&P 500
Stocks closed lower on Tuesday, giving up a massive rally from earlier in the day, as Wall Street assessed the latest news on the coronavirus outbreak.
The Dow closed 26.13 points lower, or 0.1%, at 22,653.86. The 30-stock average rose as much as 937.25 points, or 4.1%, at its session high. The S&P 500 ended the day 0.2% lower at 2,659.41 after jumping more than 3%. The Nasdaq Composite fell 0.3% to 7,887.26 following a 3% rally. Tuesday’s roll-over follows a massive rally in the previous session, in which the Dow had its third-biggest point gain on record.
Some investors believed stock prices were getting ahead of the reality where coronavirus shutdowns are likely to weigh on the economy significantly beyond the second quarter.
The S&P 500 has made a major comeback. After hitting the lows of the sell-off on March 23, the benchmark index has rocketed 21% higher.
A handful of its stocks have led the change ----MGM, Capri, Coty, Nvidia and Halliburton have all soared off their March lows.
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Plan A : Short if market failed to support above 2641.25. Targets are 2616.50, 2595.25 and 2576.75.
Plan B : Long if market doesn't retrace much and supported firm above 2641.25. Targets are 2666.25, 2685.25 and 2704.50.
E-Mini Nasdaq
U.S. stock futures in early morning trade pointed to a largely unchanged open on Wednesday, continuing a volatile week for stocks gripped by the coronavirus shutdown.
At around 4:20 a.m. ET, Dow futures were 41 points higher, indicating an implied opening drop of about 11 points on Wednesday. S&P 500 and Nasdaq futures also pointed to a largely flat open.
On Tuesday, the Dow Jones Industrial Average fell 26 points or 0.1%, giving up a 900-point surge earlier in the day. The S&P 500 also registered a slight decline, falling 0.2%, having been up more than 3%. The Nasdaq Composite closed the day down 0.3% following a 3% rally.
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Plan A : Short if market failed to support above 7994.25. Targets are 7952.25, 7928.25 and 7896.50.
Plan B : Long if market doesn't retrace much and supported firm above 7994.25. Targets are 8034.75, 8065.25 and 8095.50.
HSI
Hong Kong stocks closed more than 2% higher on Tuesday, in line with mainland gains, after Beijing’s latest economic stimulus and a fall in cases of the new coronavirus.
At the close of trade, the Hang Seng index was up 504.17 points, or 2.12%, at 24,253.29.
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Plan A : Short if market falls below 24195. Targets are 24105 and 24010. Cut above 24280.
Plan B : Long if market declines but still supported above 24060. Targets are 24145 and 24240. Cut below 23975.
WTI Crude
Oil dropped on Tuesday as hopes that the world's biggest producers would agree to cut output were tempered by a worsening crude oil glut and the threat of a deeper-than-expected global recession.
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Plan A : Remain sell if oil price stays below 25.8
Plan B : Cut above 26.2
Plan C : Consider buying only if oil price able to hold firm above 24.4
Plan D : Cut below 24.1
Gold
Gold prices fell 1% on Tuesday, retreating from a one-month high hit earlier in the session as risk sentiment improved on wider market optimism after there were tentative signs of progress against coronavirus outbreaks in some countries.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for April subscription.
Plan A : Attempt buy if gold price able to trade firmly above 1644.8
Plan B : Cut below 1640.7
Plan C : Consider selling if gold price recovers but fails to breach above 1661.3
Plan D : Cut above 1669.8
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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