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Where Futures Lies

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

 

Daily Futures Trading Strategy 12 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

U.S. stocks closed lower on Tuesday, with the S&P 500 and Dow snapping a seven-day streak of gains and falling late in the session on growing uncertainty about breaking a stalemate in Washington over a fiscal stimulus deal.
 

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Plan A : Attempt long if market trades firmly above 27590. Targets are 27710 and 27820.
Plan B : Cut below 27510.
Plan C : Attempt short if market surges but fails to breach above 27740. Targets are 27630 and 27590.
Plan D : Cut above 27790.
 
 
 
E-Mini S&P 500
 
The Dow lost 104.53 points, or 0.4%, to close at 27,686.91. The S&P 500 lost 0.8% to 3333.69. The Nasdaq Composite dropped 1.7% to 10,782.82. A late-day sell-off in tech shares dragged the S&P 500 into the red after it came within inches of its late-February all-time high.

A return of risk appetite following encouraging economic numbers and hopes of new coronavirus relief package and even a vaccine boosted the 500-stock index for much of the trading day on Tuesday.  However, the S&P 500 ended the day down 0.8% — snapping a seven-day winning streak — as technology stocks dropped. 

The S&P 500 has rallied more than 52% since its March low and is 1.8% from its record high. 

Sentiment over a coronavirus vaccine was lifted after local news agencies reported Russian President Vladimir Putin claimed the country had given regulatory approval for the world’s first Covid-19 vaccine. While there was skepticism about whether Russia had developed a safe vaccine so quickly, the news triggered optimism from investors about the race for an inoculation and perhaps that the market isn’t pricing in how quickly a valid one could be ready. This all led to traders piling into names that would benefit from the economy reopening at the expense of tech stocks.

As the day went on however, the tech selling grew and eventually took the whole market down.

Tech shares struggled, with Facebook and Amazon each falling more than 2%. Netflix slid 3% and Microsoft pulled back by 2%.

U.S. inflation data is set for release on Wednesday along with earnings from Cisco Systems and Lyft.

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Plan A : Short if market failed to support above 3339.25. Targets are 3312.25, 3285.50 and 3261.25.

Plan B : Long if market doesn't retrace much and supported firm above 3339.25. Targets are 3358.50, 3375.25 and 3399.25.

 
 
E-Mini Nasdaq
 

U.S. stock futures rose slightly in overnight trading and pointed to gains at the open on Wednesday after the S&P 500 closed lower for the first time in eight days.

After the bell on Tuesday, President Donald Trump said the U.S. government will purchase 100 million doses of Moderna’s experimental coronavirus vaccine, which is currently in late-stage human trials. 

The Nasdaq Composite was the underperformer, losing 1.7% as investors rotated out of technology stocks. Netflix, Microsoft, Amazon, Facebook, Alphabet and Apple all closed lower. 

Sentiment was boosted earlier in the day after local news agencies reported Russian President Vladimir Putin claimed the country had given regulatory approval for the world’s first Covid-19 vaccine.

The Labor Department is set to release key inflation data on Wednesday at 8:30 a.m. ET. Economists polled by Dow Jones are expecting the consumer price index increased 0.3% in July, after jumping 0.6% in June. Core CPI is expected to rise by  0.2%, or 1.2%  on an annualized basis, according to Dow Jones.

Earnings seasons continues on Wednesday with Cisco Systems, Lyft and SmileDirectClub all reporting after the closing bell. 

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Plan A : Short if market failed to support above 10949.25. Targets are 10900.50, 10865.25 and 10819.25.

Plan B : Long if market doesn't retrace much and supported firm above 10949.25. Targets are 10974.25, 11001.50 and 11027.25.

 
 
HSI
 
Hong Kong stocks ended higher on Tuesday, led by strong gains for consumer firms, as they were expected to be less impacted by the Sino-U.S. tensions.
 

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 does not breach above 25030. Targets are 24870 and 24730. Cut above 25120.

Plan B : Consider long if market trades firmly above 24815. Targets are 24920 and 25030. Cut below 24730.
 

 
 
WTI Crude
 
Crude oil prices turned negative on Tuesday, despite expectations of U.S. economic stimulus to support the world's biggest oil consumer as well as a rebound in Asian demand as economies reopen.
 

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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 fails to hold above 41.6
Plan D : Cut above 42.4
 


Gold
 
Gold sank as much as 5.3% on Tuesday, facing its worst one-day rout in seven years, as a return of risk appetite following encouraging economic numbers and hopes of new coronavirus relief package boosted the S&P 500 to near record highs.
 

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 sell as long as gold price stays below 1967
Plan B : Exit above 1974
Plan C : Consider buying if gold price firm its price above 1906
Plan D : Cut below 1899
 
 

 

 

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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