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Where Futures Lies

Author: Futurescoin   |   Latest post: Fri, 28 Feb 2020, 5:34 AM

 

Daily Futures Trading Strategy 16 January 2020

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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 were marginally lower on Wednesday ahead of the release of details of an initial U.S.-China trade deal, with investors also digesting the second round of bank earnings after a strong set of reports on Tuesday.

 

Wall Street eased from all-time highs on Tuesday after a report said Washington would likely maintain tariffs on Chinese goods until after the presidential election in November.

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Plan A : Attempt to long if market still stays firm above 28955. Targets are 28990, 29035 and 29080.
Plan B : Cut below 28920.
Plan C : Consider to short if market falls below 29005. Targets are 28970, 28925 and 28880.
Plan D : Cut above 29040.

 

E-Mini S&P 500

 

The Dow climbed 90.55 points, or 0.31%, to end the day at 29,030.22. The S&P 500 advanced 0.19% to 3,289.29. The Nasdaq Composite gained 0.08% to 9,258.70. Wall Street cheered stocks to record highs as China and the U.S. signed the much-anticipated phase one trade deal.

 

President Donald Trump and Chinese Vice Premier Liu He signed a partial trade deal in Washington on Wednesday, which would boost Chinese purchases of U.S. products. The agreement also includes provisions to curb forced technology transfers along with intellectual property theft. More importantly, however, the deal quells for the moment fears that the U.S.-China trade situation will keep escalating. Now, investors can focus more on corporate earnings and the broader economy.

 

Wall Street also kept an eye on Corporate America as the earnings season kicked into full gear. Bank of America reported quarterly results that beat analyst expectations as bond-trading revenue ripped higher.

 

 

 

Goldman Sachs posted a revenue for the quarter that surpassed estimates. BlackRock, UnitedHealth and PNC Financial also posted quarterly earnings that beat analyst expectations.

 

So far, about 30 S&P 500 companies have released their quarterly numbers. Of those companies, 82% have posted better-than-expected profits, according to FactSet data.

 

 

Morgan Stanley and Charles Schwab are among the companies set to report earnings on Thursday. On the data front, weekly jobless claims and retail sales will be released Thursday morning. 

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Plan A : Long if market supported firm above 3298.25. Targets are 3313.25, 3320.50 and 3331.25.

Plan B : Short if market failed to support above 3298.25. Targets are 3283.50, 3270.25 and 3262.50.

 

 

E-Mini Nasdaq

 

 

Stocks rose on Wednesday, but gave up most of their gains heading into the close even after the U.S. and China signed a highly anticipated phase one trade agreement.

Most of the details were already known and investors anticipated some speed bumps on the way to phase two’s signing.

 

The U.S.-China trade agreement includes provisions to curb intellectual property theft along with forced technology transfers. It also increases Chinese purchases of U.S. products. Investors had been eagerly awaiting the signing of the so-called phase one trade agreement as the conflict between the world’s largest economies has dragged on for nearly two years.

 

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Plan A : Long if market retraced but supported firm above 9079.50. Targets are 9108.50, 9129.25 and 9145.25.

Plan B : Short if market failed to support above 9079.50. Targets are 9048.50, 9028.25 and 9009.75.



 

HSI

 

Stocks in Hong Kong edged down on Wednesday after the United States warned that tariffs on Chinese goods will remain in place, hours before the two sides prepared to seal a Phase 1 trade deal.

 

At the close of trade, the Hang Seng index was down 0.4% at 28,773.59.

 

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Plan A : Above 29040, do nothing.
Plan B : Below 28545, do nothing.
Plan C : Attempt to long if market rebounds from 28826.
Plan D : Cut below 28750.
Plan E : Consider to short if market surges but does not breach above 29040.
Plan F : Cut above 29120.

 

WTI Crude

 

Oil prices fell on Wednesday after a U.S. report showed big increases in gasoline and distillates inventories and as crude production rose to a new record.

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Plan A : Remain sell as long as oil price stays below 58.3

 

Plan B : Cut above 58.9

Plan C : Consider buying only if oil price supports firmly above 57.9

Plan D : Cut below 57.4

 


Gold


Gold rose on Wednesday as details of the U.S.-China phase 1 trade deal failed to soothe investors' concerns about trade differences, as Washington retained tariffs on some Chinese goods.

 

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Plan A : Attempt sell if gold price fails to breach and stay firm above 1556.7

Plan B : Cut above 1558.2

Plan C : Consider buying only if gold price supports firmly above 1556.7

Plan D : Cut below 1554.0

 

 

 

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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