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Where Futures Lies

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

 

Daily Futures Trading Strategy 14 September 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

 
Dow ends higher but Wall Street posts second straight weekly drop on tech slide on Friday. The Dow closed up 131-points to settle at 27,665.
 

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Plan A : Attempt short if market recovers but trades below 27826. Targets are 27666 and 27567.
Plan B : Cut above 27940.
Plan C : Consider long if market stays firm above 27567. Targets are 27666 and 27777.
Plan D : Cut below 27487.
 
 
E-Mini S&P 500
 
The Dow rose 131.06 points, or 0.48%, to 27,665.64. The S&P 500 was flat at 3,340.97. The Nasdaq Composite dropped 0.6% to 10,853.54. Wall Street suffered through another volatile session to end the tech-heavy Nasdaq's worst week since March, down 4%. It is off by 10% from its recent record.
 
Shares of the major tech companies fell broadly. Facebook closed 0.6% lower. Amazon slid 1.9%. Apple ended the day down 1.3%. Apple fell 7% on the week.
 
Lennar is set to report earnings on Monday. The Fed will hold its last monetary policy meeting before the election next week.

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Plan A : Short if market failed to support above 3369. Targets are 3341, 3315 and 3290.
Plan B : Long if market doesn't retrace much and supported firm above 3369. Targets are 3384, 3398 and 3420.
 


E-Mini Nasdaq

U.S. stock futures rose early Monday morning after a sell-off in tech shares led to the market’s first back-to-back weekly declines in months.

Sentiment was lifted in part by news of Nvidia buying chip maker Arm Holdings from SoftBank for $40 billion. Nvidia will finance the deal through a combination of cash and common stock. 

“There is nothing untoward about the fundamentals nor earnings expectations. An upside surprise would come from further dollar weakness, while the emergence of a vaccine and/or a rise in long-term rates would curb performance,” said Darby, a global equity strategist at the firm.

Investors are coming into the new week amid dwindling hope of lawmakers striking a deal on new fiscal stimulus.

Senate Majority Leader Mitch McConnell, R-KY, said on Friday the chances of Republicans and Democrats reaching a deal don’t “look that good right now.” Earlier this month, House Speaker Nancy Pelosi, D-Calif., said Democrats and the White House had “serious differences" over coronavirus aid.

Meanwhile, the number of U.S. coronavirus cases are growing by 5% or more in 11 states, according to a CNBC analysis of Johns Hopkins University data. Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said last week that recent coronavirus data was “disturbing.”

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Plan A : Short if market failed to support above 11260. 

Targets are 11215, 11168 and 11105.

Plan B : Long if market doesn't retrace much and supported firm above 11260. Targets are 11292, 11318 and 11359.
 

 
HSI
 
Hong Kong shares bounced on Friday, as investors snapped up tech stocks hit by this week's sell-off, though the benchmark index ended lower for the week as economic worries and Sino-U.S. tensions continued to weigh on sentiment.

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Plan A : Attempt short if market trades below 24518. Targets are 24368 and 24230.
Plan B : Cut above 24590.
Plan C : Consider long if market stays firm above 24368. Targets are 24444 and 24518.
Plan D : Cut below 24280.

 
 
WTI Crude
 
Oil prices edged higher on Friday as equities markets firmed but crude remained on track for a second weekly drop as investors expected a global glut to persist if demand weakens further with rising COVID-19 cases in some countries.
 

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Plan A : Consider buy if oil price holds resiliently above 36.7
Plan B : Exit below 36.1
Plan C : Attempt selling if oil price recovers but fails to breach above 37.6
Plan D : Cut above 38.7

 

Gold

 
Gold slipped on Friday on lack of further stimulus from the European Central Bank and the U.S. government, but for the week the safe-haven metal was set to end higher on concerns over an economic recovery.
 

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Plan A : Attempt buy if gold price trades firmly above 1935.2
Plan B : Cut below 1930
Plan C : Consider selling if gold price surges but fails to breach above 1955
Plan D : Cut above 1966

 

 

 

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 correction, 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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