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Author: Futurescoin   |   Latest post: Wed, 30 Sep 2020, 12:51 AM

 

Daily Futures Trading Strategy 10 August 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

 
Stocks on Wall Street meandered, with the S&P 500 and Dow in negative territory most of the session before turning positive at the close last Friday.
 
 

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Plan A : Attempt long if market trades firmly above 27010. Targets are 27280 and 27320.
Plan B : Cut below 26920.
Plan C : Attempt short if market surges but fails to breach above 27370. Targets are 27230 and 27010.
Plan D : Cut above 27420.
 
 
 
E-Mini S&P 500
 
The Dow rose 46.5 points, or 0.2%, to close at  27,433.48. The S&P 500 was up slightly to 3351.28. The Nasdaq Composite dropped 0.9% to close at 11,010.98. The Dow and S&P 500 eked out their sixth straight gains as strong jobs report outweighed U.S.-China tensions and concerns about a new fiscal stimulus package.
 
President Donald Trump issued on Thursday executive orders to address “the threat posed” by Chinese apps TikTok and WeChat. The U.S. on Friday also sanctioned Hong Kong Chief Executive Carrie Lam. Meanwhile, the White House and Congress are struggling to agree on a new stimulus package after a $600 per week enhanced federal unemployment benefit expired at the end of July.
 
Shares of Amazon fell more than 1.8% and Netflix slid 2.8%. Microsoft, Apple and Alphabet all closed lower.
 
Traders will keep an eye on Washington as talks over a new coronavirus stimulus package continue. July retail sales numbers are due for release next week.
 
 
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Plan A : Long if market supported firm above 3323.25. Targets are 3345.25, 3367.75 and 3390.25.
Plan B : Short if market failed to support above 3323.25. Targets are 3298.25, 3270.25 and 3251.25.
 
 
 
E-Mini Nasdaq
 

U.S. stock futures were mixed early Monday morning after President Donald Trump signed several executive orders aimed at extending corona
virus relief.

Those orders continue the distribution of expanded unemployment benefits, defer student loan payments through 2020, extend a federal moratorium on evictions and provide a payroll tax holiday. However, the unemployment benefit will be continued at a reduced rate of $400 per week. Originally, the benefit provided workers impacted by the pandemic with $600 per week.

Trump’s moves come after congressional leaders failed to make progress on a new coronavirus stimulus package last week. Several benefits from a package signed earlier in the year lapsed at the end of July, raising uncertainty about the U.S. economy moving forward.

Wall Street was coming off a strong weekly performance. The Dow rose 3.8% last week for its biggest weekly gain since June. The S&P 500 climbed 2.5% along with the Nasdaq Composite. Last week’s gains come during a historically tough time for the market as August kicks off the worst three-month stretch for the S&P 500.

Those gains were led in part by Facebook, Apple and Microsoft, all of which rose by more than 3% last week. They also left the S&P 500 just 1.2% below its Feb. 19 record high.
 

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Plan A : Long if market supported firm above 11113.25. Targets are 11140.25, 11175.25 and 11205.25.

Plan B : Short if market failed to support above 11113.25. Targets are 11070.25, 11025.25 and 10985.25.
 

 
 
HSI
 
 
Hong Kong stocks ended lower on Friday and posted a fourth straight weekly drop, after the Trump administration unveiled a plan to ban U.S. transactions with ByteDance's Tik Tok and Tencent-owned WeChat.
 

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Plan A : Attempt short if market does not breach above 24707. Targets are 24600 and 24540. Cut above 24810.

Plan B : Consider long if market trades firmly above 24600. Targets are 24707 and 24800. Cut below 24540.


 
 
WTI Crude
 
Oil prices fell more than 1% on Friday, limiting their weekly gain due to concerns the global recovery could falter from a resurgence of coronavirus cases.
 

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Plan A : Remain buy as long as oil price stays above 41.6
Plan B : Exit below 41.0
Plan C : Consider selling if oil price surges but fails to breach above 42.6
Plan D : Cut above 43.1
 


Gold
 
Gold slumped over 2% on Friday, snapping its record-breaking rally, after a decent U.S. jobs report boosted the dollar, but a worsening pandemic kept prices on course for their longest streak of weekly gains in about a decade.
 

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Plan A : Attempt selling if gold price stays below 2028
Plan B : Cut above 3037
Plan C : Consider buying if gold price firm its price above 2028
Plan D : Cut below 2018
 
 

 

 

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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