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Author: Futurescoin   |   Latest post: Fri, 7 Aug 2020, 6:11 AM

 

Daily Futures Trading Strategy 21 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

The Dow index was set to open lower on Monday as concerns about a jump in COVID-19 cases curbed risk appetite, with investors also hoping for more stimulus to shore up a battered global economy.

After the U.S. government’s $3 trillion commitment to the crisis 12 weeks ago, record levels of new infections have forced many states to backpedal their reopening plans just as those support programs are due to expire.

At least 14 states have reported record hospitalizations so far in July and Florida saw 12,000 new cases on Sunday. Furthermore, the U.S. Centers for Disease Control and Prevention has warned that cases and deaths could rise this autumn and winter. Congress is set to debate a new aid package this week.

Signs of progress on a potential coronavirus vaccine, improving economic data and a relatively upbeat start to the second-quarter earnings season helped the Dow rise for three consecutive weeks.

 

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Plan A : Short if market stays below 26715. Targets are 26675 and 26625.

Plan B : Cut above 26755.

Plan C : Attempt to long if market holds firm above 26650. Targets are 26695 and 26740.

Plan D : Cut below 26605.

 

 

 

E-Mini S&P 500

 

The Dow climbed 8.92 points, or 0.03%, to 26,680.87. The S&P 500 gained 0.84% to 3,251.84. The Nasdaq Composite jumped 2.51% to 10,767.09. Amazon shares popped, lifting the rest of the Big Tech and the broader market.

 

Amazon rallied nearly 8% after a Goldman Sachs analyst hiked his price target on the stock to $3,800 per share, the highest on the Street. Shares of Microsoft gained 4.30%. Netflix, Alphabet and Facebook all closed more than 1.4% higher. Tech’s gains came after a downbeat week, which led to the Nasdaq’s first weekly decline in three weeks, while beaten-down value names outperformed in that time period. 

 

Dow member Pfizer and BioNTech reported early positive data on a joint coronavirus vaccine candidate. Another vaccine candidate from Oxford University and AstraZeneca showed a positive immune response in an early trial. Traders also turned their eyes to Washington as lawmakers begin negotiations on new stimulus measures.


With Monday’s gains on Wall Street, the S&P 500 turned green for 2020 with a 0.6% gain on the year, while the Nasdaq has risen 20% this year. The 30-stock Dow lagged, however, down 6.5% for 2020.

 

Snap and Coca-Cola are among the companies set to report earnings.  

 

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Plan A : Short if market failed to support above 3230.25. Targets are 3204.25, 3180.75 and 3165.25.

Plan B : Long if market retraced but supported firm above 3210.25. Targets are 3232.50, 3254.75 and 3272.25.  


 

 

E-Mini Nasdaq

 

Stock futures were flat in overnight trading on Monday after a strong performance in technology shares pushed the S&P 500 in positive territory for the year. 

 

Futures on the Dow Jones Industrial Average dipped about 10 points, while the S&P 500 and the Nasdaq 100 futures were little changed.

 

The overnight action followed a strong performance in technology shares that pushed the Nasdaq up 2.5%. Amazon led the gains in popular tech names with a 7.9% jump on Monday, its best day since December 2018. The Nasdaq 100, which consists of the 100 biggest non-financial companies in the composite, popped 2.8% for its biggest one-day gain since April.

 

IBM gained 4.7% in extended trading after the company reported better-than-expected second quarter earnings. Notably, IBM improved gross margins in three of its five units in the past quarter.

 

Investors are also monitoring the talks in Washington on the next coronavirus relief bill. Lawmakers face pressure to pass legislation before the end of the month, when the $600 per week federal unemployment insurance benefit is set to expire. 

 

More companies will report quarterly earnings on Wednesday. Coca-cola and Philip Morris are set to drop results before the bell, while United Airlines will report after the close.

 

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

 

Plan A : Short if market failed to support above 10957.50. Targets are 10920.25, 10882.75 and 10820.25.

Plan B : Long if market retraced but supported firm above 10875.50. Targets are 10900.25, 10940.25 and 10980.50.

 

HSI

 

Hong Kong stocks fell on Monday but recouped much of their losses, helped by robust gains on the mainland as Beijing signalled support for its market.

 

At the close of trade, the Hang Seng index was down 31.18 points, or 0.12%, at 25,057.99 after falling as much as 1.3%.

 

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

Plan A : Attempt short if market breaks below 24970. Targets are 24895 and 24810. Cut above 25045.

Plan B : Attempt long if market rebounds from 24970. Targets are 25040 and 25135. Cut below 24890.

 

 

WTI Crude

 

Oil prices were little changed on Monday as coronavirus cases increased in many countries, though a flurry of announcements about a potential COVID-19 vaccine and ongoing talks over a European Union fund to revive economies hit by the pandemic curbed losses.

 

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

 

Plan A : Attempt buy if oil price trades firmly above 40.7

Plan B : Cut below 39.9

Plan C : Consider selling if oil price breaks below 40.7

Plan D : Cut above 41.6

 


 

Gold

 

 

Gold prices jumped to their highest since September 2011 on Monday, and silver hit a near four-year peak as a spike in COVID-19 infections and hopes for increased stimulus measures supported safe-haven demand.

 

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

 

Plan A : Remain buy as long as gold price stays firm above 1807.6

Plan B : Exit below 1804

Plan C : Consider selling if gold price surges but fails to breach above 1829

Plan D : Cut above 1838

 

 

 

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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