Where Futures Lies
Daily Futures Trading Strategy 4 May 2020 (Foreign Market)
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Publish date: Mon, 04 May 2020, 05:29 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 slid on Friday after President Donald Trump threatened to slap new tariffs on China over the coronavirus crisis, while Apple and Amazon became the latest companies to warn of more pain in the future.
Trump said late on Thursday his trade deal with China was now of secondary importance to the pandemic, as his administration crafted retaliatory measures over the outbreak. The threat pulled attention back to the trade war between the world’s two largest economies that has kept global financial markets on tenterhooks for nearly two years.
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Plan A : Continue to hold short if market stays below 23590. Targets are 23545, 23490 and 23435.
Plan B : Cut above 23635.
Plan C : Long if market able to sustain above 23590. Targets are 23645 and 23705.
Plan D : Cut below 23545.
E-Mini S&P 500
Stocks slumped on Friday as shares of Amazon led the major indexes lower on the month’s first day of trading.
The Dow fell 622.03 points, or 2.5%, to 23,723.69 as Dow Inc and Exxon Mobil each fell more than 7%. The S&P 500 dropped 2.8% to 2,830.71 with consumer staples and communications stocks leading the broad market index down. The Nasdaq Composite closed 3.2% lower at 8,604.95 as a host of big-tech names fell.
Tech titan Amazon led declining stocks on the week’s final day of trading with shares down 7.6% after announcing plans to spend all its second-quarter profits on its coronavirus response. The e-commerce behemoth also posted a first-quarter profit that missed analyst expectations.
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Plan A : Long if market doesn't retrace much and supported firm above 2799.50. Targets are 2825.25, 2843.50 and 2863.25.
Plan B : Short if market failed to support above 2799.50. Targets are 2770.25, 2752.50 and 2730.75.
E-Mini Nasdaq
Stock futures fell early Monday morning as traders weighed the re-opening of the economy along with brewing tensions between China and the U.S.
Dow futures were down by 214 points, pointing to a Monday opening decline of around 209 points. S&P 500 and Nasdaq 100 futures also pointed to losses at the open on Monday for the two indexes.
States across the U.S. are letting none essential businesses reopen and are easing stay-at-home orders in an effort to restart the economy after the coronavirus forced a near global halt in economic activity. However, this easing comes as data from the World Health Organization showed the U.S. had its deadlieast 24 hours between Thursday and Friday.
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Plan A : Long if market doesn't retrace much and supported firm above 8609.75. Targets are 8642.25, 8679.50 and 8709.25.
Plan B : Short if market failed to support above 8609.75. Targets are 8567.25, 8538.25 and 8512.25.
HSI
Hong Kong shares finished higher on Wednesday, lifted by financials after China’s biggest listed banks reported higher first-quarter profits and as easing coronavirus lockdowns in some parts of the world boosted global sentiment.
At the close of trade, the Hang Seng index was up 67.63 points, or 0.28%, at 24,643.59.
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Plan A : Short if market breaks below 24011. Targets are 23925 and 23840. Cut above 24095.
Plan B : Long if market tested and rebounds from 23553. Targets are 23628 and 23715. Cut below 24465.
WTI Crude
U.S. oil moved higher on Friday, with both benchmarks posting their first weekly gain in four weeks as OPEC and its allies embark on record output cuts to tackle a supply glut due to the coronavirus crisis.
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Plan A : Remain buy as long as oil price stays above 17.6
Plan B : Exit below 17.1
Plan C : Consider selling if oil price surges but fails to breach above 19.6
Plan D : Cut above 20.4
Gold
Gold jumped more than 1% on Friday, shaking off initial losses, as risk sentiment soured on U.S. President Donald Trump's threat to impose new tariffs on China, but bullion was still on track for its worst week since mid-March.
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Plan A : Attempt selling if gold price stays below 1709
Plan B : Cut above 1714
Plan C : Consider buying only if gold trades firmly above 1709
Plan D : Cut below 1700
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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I really doubt that you know how to trade
2020-05-04 18:02