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Where Futures Lies

Author: Futurescoin   |   Latest post: Mon, 3 Aug 2020, 3:10 AM

 

Daily Futures Trading Strategy 13 July 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 slipped on Friday as a record increase in coronavirus cases raised fears of another hit to Corporate America with several states delaying the easing of business restrictions.

About 41 of the 50 U.S. states have reported an increase in COVID-19 cases over the last two weeks, while the country registered the largest single-day increase in new infections globally for the second day in a row on Thursday. 

The surge has forced Americans to take new precautions, with several states backpedaling on reopening plans but likelihood of a lockdown similar to February and March seems unlikely, according to market experts.

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Plan A : Short if market does not breach above 26230. Targets are 26185 and 26140.

Plan B : Cut above 26275.

Plan C : Attempt to long if market supported firmly above 26015. Targets are 26060 and 26105.

Plan D : Cut below 25970.

 

 

 

E-Mini S&P 500

 

Stocks ended the day sharply higher and investors cheered positive news about a coronavirus treatment from Gilead Sciences. The Dow Jones Industrial closed the trading session up 368 points or 1.43% on Friday. The S&P 500 gained about 32 points or 1.04%. The Nasdaq Composite jumped 0.66% for a record close. All three major average finished the week with gains. 

 

Stock futures rose in early morning trading on Monday as investors looked past a record spike in coronavirus cases in Florida.

 

Futures on the Dow Jones Industrial Average gained 185 points, pointing to a more than 200-point gain at Monday’s open. The S&P 500 futures and the Nasdaq 100 futures contracts also pointed to a positive Monday start for the two indexes.

 

 

The Dow and the S&P 500 are coming off two consecutive weeks of gains, while the resilience in tech shares pushed the Nasdaq to a new record after three straight positive weeks. For July, the Dow and the S&P 500 have risen 1.0% and 2.7%, respectively. The tech-heavy Nasdaq outperformed, climbing 10.7% this month as Amazon, Apple, Netflix, Alphabet all reclaimed new highs. 

 

Earnings season is set to kick off this week with big banks and others reporting their quarterly results. JPMorgan, Citigroup and Wells Fargo are scheduled to report on Tuesday. Pepsi will report earnings on Monday before the market open.

 

 

Corporate profits are expected to fall by 44% in the second quarter, which would be the biggest drop in quarterly earnings since the fourth quarter of 2008, according to Refinitiv data. However, the market could shrug off the sharp profit decline as long as companies signal a recovery on the horizon.

 

 

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Plan A : Long if market retraced but supported firm above 3153.25. Targets are 3178.50, 3197.75 and 3218.25.

Plan B : Short if market failed to support above 3153.25. Targets are 3128.25, 3103.50 and 3085.25. 

 

 

 

E-Mini Nasdaq

 

This stock market is like the old line about having one foot in a bucket of scalding water and the other in a bucket of ice, netting out to a neutral, if not comfortable, temperature.

 

There’s the blistering Nasdaq, with its unassailable technology gatekeepers and a combustible frenzy in Tesla stealing much of the market’s oxygen. Then there’s the chill enveloping smaller stocks, vestiges of the physical consumer economy and legacy financial institutions.

 

The crucial question swirling around the Nasdaq’s ascent and refusal of the Big Six stocks to take anything but a quick rest for months is whether investors are in danger of overpaying for the perceived certainty of secure cash flows, durable growth and entrenched franchises in the digital economy.

 

There is no denying both that the Nasdaq complex in the short-term appears technically stretched and over-loved, while large-cap tech is getting richly valued.

 

SentimenTrader.com notes that about three-quarters of Nasdaq stocks are above their 200-day moving average, the shorthand definition of a longer-term uptrend.

 

The Nasdaq 100 has pushed more than 22% above its 200-day average, according to Baycrest Partners’ Jonathan Krinsky, the most extreme spread with the index at a high since 2000.

 

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Plan A : Long if market retraced but supported firm above 10779.25. Targets are 10809.50, 10836.25 and 10868.50.

Plan B : Short if market failed to support above 10779.25. Targets are 10745.25, 10715.25 and 10689.50.

 

 

HSI

 

Hong Kong stocks fell on Friday, tracking Chinese equities as a heated rally there ground to a halt after state funds announced stake cuts in companies and on signs of renewed Sino-U.S. tensions.

 

Record-breaking rises in coronavirus cases across several U.S. states further dented sentiment, stoking concerns that lockdown measures may be re-imposed, derailing a nascent economic recovery.

 

At the close of trade, the Hang Seng index was down 482.75 points, or 1.84%, at 25,727.41.

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

Plan A : Attempt short if market does not breach above 26017. Targets are 25945 and 25860. Cut above 26105.

Plan B : Attempt long if market rebounds firmly from 25885. Targets are 25960 and 26045. Cut below 25808.

 

 

WTI Crude

 

Oil prices climbed more than 2% on Friday after the International Energy Agency (IEA) bumped up its 2020 demand forecast but record-breaking new coronavirus cases in the United States tempered expectations for a fast recovery in fuel consumption.

 

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Plan A : Remain buy as long as oil price trades firmly above 39.9

Plan B : Exit below 39.5

Plan C : Consider selling if oil price stays below 40.7

Plan D : Cut above 41.6

 


 

Gold

 

Gold fell on Friday as gains in U.S. equities trimmed flows into bullion, which was still on track fro a fifth straight weekly gain after soaring to its highest in nearly nine years this week on surging COVID-19 infections.

 

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

 

Plan A : Attempt selling if gold price fails to regain footing above 1807.6

Plan B : Cut above 1817

Plan C : Consider buying if gold price trades above 1807.6

Plan D : Cut below 1802

 

 

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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