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Author: Futurescoin   |   Latest post: Tue, 12 Nov 2019, 11:08 PM

 

Daily Futures Trading Strategy 21 October 2019

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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 were little changed on Friday, as better-than-expected earnings reports were overshadowed by fresh jitters about the global economy after economic data from China revealed growth slowed to its weakest pace in almost 30 years.

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Plan A : Continue to hold sell as long as market does not breach above 26825. Targets are 26800, 26755 and 26705.

Plan B : Cut above 26858.

Plan C : Buy if market tested and rebounds from 26691. Targets are 26715, 26745 and 26780.

Plan D : Cut below 26660.

 

 

E-Mini S&P 500

 

Stocks will try in the week ahead to break the all-time highs set earlier in the year as a slew of S&P 500 companies get set to report.
 

The S&P 500 and the Dow are both around 1% below their all-time highs while the Nasdaq Composite is about 2% away from its record. The indexes got a lift this after a big chunk of this week’s reporters posted better-than-expected results. They were also boosted by improving sentiment around Brexit and U.S.-China trade negotiations.

 

The all-time highs could be tested as about 120 S&P 500 companies, or around 24%, are scheduled to release their quarterly results in the week ahead. Some of those companies include Caterpillar and Boeing, both of which are expected to report Wednesday before the bell. Amazon, Intel, McDonald’s and Chipotle Mexican Grill are also on deck for the week.

 

More than 14% of S&P 500 companies have reported through Friday, FactSet data shows. Of those companies, 81% posted earnings that beat analyst expectations.

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Plan A : Sell if market failed to support above 2986.50. Targets are 2971.25, 2960.50 and 2949.25.

Plan B : Buy if market retraced but supported above 2965.25. Targets are 2980.25, 2991.25 and 3002.25.

 

 

E-Mini Nasdaq

U.S. stock index futures were slightly higher Monday morning. The moves in pre-market trade come as investors continue to closely monitor global trade developments.

 

The two economic superpowers reached a limited trade deal last week, in an attempt to end a protracted dispute that has battered financial markets and hammered global growth. Both sides are working toward a comprehensive breakthrough.

 

Asia Pacific markets traded mixed on Monday as Brexit developments over the weekend created further uncertainty over the United Kingdom’s impending departure from the European Union.

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Plan A : Sell if market failed to support firm above 7888.50. Targets are 7849.50, 7820.25 and 7789.25.

Plan B : Buy if market retraced but supported firm above 7820.25. Targets are 7859.25, 7889.25 and 7919.50.

 

 

HSI

Hong Kong stocks weakened on Friday, tracking broader losses in other Asian markets following downbeat China growth data, but made weekly gains on hopes more measures would be taken to support the island city’s economy amid months-long protests.

 

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Plan A : Above 26998, do nothing
Plan B : Below 26350, do nothing
Plan C : Consider to sell if market trades below 26675
Plan D : Cut above 26776
Plan E : Consider to long if market tested and rebounds from 26350
Plan F : Cut above 26275

 

 

WTI Crude

 

Oil prices edged lower on Friday, as concerns about China's economy outweighed bullish signals from its refining sector, but losses were limited on hopes for progress towards a U.S.-China trade agreement.

 

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Plan A : Attempt buy as long as oil price stays firm above 53.0

Plan B : Cut below 52.6

Plan C : Consider selling if oil price fails to breach above 54.0

Plan D : Cut above 54.6

 

 

Gold

 

Gold steadied on Friday, helped by weaker dollar, with the possibility of a non-deal Brexit, uncertainty over U.S.-China trade and fears of a global slowdown keeping bullion on track for a small weekly gain.

 

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Plan A : Attempt buy as long as gold price stays firm above 1490

Plan B : Cut below 1484.8

Plan C : Consider selling if gold price surges but fails to breach above 1494

Plan D : Cut above 1498.7


 

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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